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Average new-vehicle transaction price hits a whopping new peak in December

Elevated prices for products and higher borrowing rates led to record high transaction prices for new vehicles in December, with the average cost in the U.S. rising to a record $49,507, according to data from Kelley Blue Book released today. The report notes that ATPs — average transaction prices — have climbed above suggested retail prices — MSRPs — for more than a year. Sales volumes were up in December on a year-over-year basis by more than 5%, a situation Kelley attributed to improved supply. Overall sales for 2022, however, were off 8% year over year. “The transaction data from December clearly indicates overall prices showed no signs of coming down as we headed into year-end,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. “Luxury prices fell slightly in December, but non-luxury transaction prices were up. Truck sales were particularly strong last month, and with many trucks selling for more than $60,000, a new record was all but inevitable.” Industry analysts claim the most obvious headwinds in the new car market are generated by higher interest rates, forced by the Federal Reserve's rate hikes intended to tame inflation, and by generally limited inventory. A recent report from J.D. Power showed that the average monthly payment for a new vehicle loan in December was $718, up $47 from a year ago. But 16% of consumers in December took out loans with monthly payments of over $1,000. Consumers think vehicles, and electric vehicles especially, are way too expensive. Fortunately, manufacturersÂ’ incentives, all but extinct in the past two years, are returning, especially in the electric-vehicle and luxury market, the Kelley data suggest. Plus, "With the new tax credits on the way, electric vehicle ATPs will drop lower for qualifying vehicles,” Rydzewski said. Non-luxury brands, such as Honda and Kia, showed particularly strong performance in December, with the average price paid at $45,578 — a record high and an increase of $994 month over month. Meanwhile, the average luxury buyer paid $66,660 for a new vehicle last month. Mercedes-Benz and Land Rover showed the most price strength in the luxury market, transacting between 2.6% to 6.5% over sticker price. But luxury brands Audi, BMW, Infiniti, Lexus, Lincoln, and Volvo showed the least price strength with some discounting in effect, selling 1% or more below MSRP in December, according to the survey.

2016 Mercedes-Benz Metris First Drive

We're sitting 8,700 feet above sea level in the idyllic old mining town of Dunton Hot Springs, nestled deep in the Rocky Mountains of Colorado. We've come to drive the newest and cheapest Mercedes-Benz, a midsize work van called the Metris. As the day begins, Mercedes van boss Bernhard Glaser states the obvious, "We're setting up camp in the US." It's a good line, perhaps a little too fitting given our surroundings, but it's accurate. Though the US commercial van market is dominated by Ford and General Motors, Mercedes has staked out a competitive position and is digging for more. The tall, capable Sprinter relaunched with a Mercedes badge in the United States in 2010 and has grown into a $1-billion enterprise in America. Now comes Phase 2, dubbed "Mission Metris," starring a tweener van that's smaller than the towering Sprinter yet larger the Ford Transit Connect and Nissan NV200. The 2016 Metris enters a crowded and evolving segment that also includes the Ram ProMaster City and GM's super-old Chevy Express and GMC Savana. Mercedes will sell the Metris in cargo and passenger forms, meaning it will be outfitted for a range of roles, including taxi and limousine companies, delivery duties, service, and maintenance. Yes, your cable guy might show up in a Mercedes. That's part of the plan, actually. Though the Metris was engineered to be a pack-mule of a van, if the shine of the star on its grille helps attract new buyers – like a chain of upscale hotels that needs a fleet of shuttles – all the better. Our short test drive begins outside the small canyon town of Dolores, CO, as we haul four people and some luggage to the airport in a pre-production Metris. Normally test programs staged by automakers are a little contrived – many feature an off-road course or track time for even the most mundane vehicles – but our stint behind the wheel of the Metris is almost exactly how the van could be used in real life. We make our way along Colorado's winding highways, cruising around 60 miles per hour for much of it. The Metris offers an excellent view of the road and the snow-capped mountains that rise in the distance. It's an easy van to drive. We don't feel like we're piloting a U-Haul or something else cumbersome. Mercedes is billing this as the 'right-sized' option, and our initial impressions support that sentiment as we navigate the curves flanked by steep drop-offs.

Brabus tunes new Mercedes GLE Coupe up to 700 horsepower

With 576 horsepower on tap, the new Mercedes-AMG GLE 63 S Coupe would be more than enough machine for most. For the rest, there's Brabus. Now the Benz tuner extraordinaire has revealed its own tuning program for the performance fastback crossover, turning the dial way past 11 to a massive 690 hp. Since the engine is already turbocharged, the 114-horse boost comes courtesy of modifications to the intake, charge-air pipes, engine control unit, and exhaust. Brabus also upgraded the turbo spools themselves, boosting torque up to 708 pound-feet. The result, according to the tuner, is a 0-62 time of 4.0 seconds flat and a top speed of 186 miles per hour. Those would have been considered supercar figures not that long ago. But this is a luxury crossover, for crying out loud. Still not enough? Brabus will further tune your GLE to 838 horsepower and a mind-blowing 1,069 lb-ft for a 3.8-second 0-62 sprint and a 200-mph top speed. In either state of tune, the aftermarket modifier will also gladly fit its aero kit, rolling stock, air-suspension control unit, and fully refit the interior to the buyer's specifications. The example you see here is making its world premier this week at the Dubai Motor Show. Brabus is also unveiling the Rocket 900 Desert Gold edition based on the Mercedes-AMG S65 sedan at the same show. They're being showcased alongside a number of regional debuts as well as a couple from its non-Benz brand, Startech. World premiere at the DUBAI INTERNATIONAL MOTOR SHOW 2015 BRABUS 700 Coupe 515 kW / 700 HP, 960 Nm, 300 km/h top speed, carbon and 23-inch forged wheels for the brand-new Mercedes GLE 63 S Coupe Brand-new on the market and already exclusively and professionally refined: BRABUS (Brabus-Allee, D-46240 Bottrop, phone + 49 / (0) 2041 / 777-0, fax + 49 / (0) 2041 / 777 111, Internet www.brabus.com) presents the BRABUS 700 Coupe based on the new Mercedes GLE 63 S in a world premiere at the DUBAI INTERNATIONAL MOTOR SHOW 2015. This high-performance SUV capable of reaching a top speed of 300 km/h (186 mph) includes a 5.5-liter twin-turbo engine uprated to 515 kW / 700 HP (690 bhp) and 960 Nm (708 lb-ft), sporty carbon aerodynamic-enhancement components and 23-inch high-tech forged king-sized wheels. The BRABUS fine leather interior with quilted azure-blue seats and door panel elements creates an especially luxurious atmosphere.