2010 Mercedes-benz Glk-class Glk350 Low Miles No Reserve We Finance on 2040-cars

Auto blog

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.

Mercedes CLA a sub-$30k car no more

To be honest, the sub-$30,000 Mercedes-Benz CLA was more a theoretical than a real thing. Squeaking in at $100 below that magical threshold, not counting a $925 destination charge, snagging a CLA anywhere near $30k meant exercising extreme self-control with the options catalog. Perhaps with that thinking in mind, Mercedes is set to effectively scrap the entire idea, with Cars Direct claiming the price on a new CLA is set to increase by about five percent, to $31,500. Adding 4Matic all-wheel drive brings the starting price to $33,500. Even the hot CLA45 AMG is getting a price bump, from $47,450 to $48,500. Frankly, it's impossible to miss where Mercedes is coming from with this move, if it actually happens. The CLA has been one of 2014's unmitigated success stories, selling so well that Mercedes has struggled to keep up with demand. Considering that, a modest price hike is to be expected.

Man makes record-setting drive across the US in 28 hours, 50 minutes

Records, as the say, are made to be broken. Whether that's cramming the most hot dogs down your gullet, running a faster mile, or yes, driving across the United States, odds are that there's someone out there wants to eat more, run faster or drive harder. Speaking of that last example, the record for driving from a set location on the east coast, in particular the Red Ball Garage in Manhattan to the Portofino Hotel in Redondo Beach, CA, has been one that has fascinated gearheads since a guy named Cannonball Baker made the trek from New York to LA in 53 hours, 30 minutes, in 1933.
The competition saw its glory days when Car and Driver's Brock Yates came up with the Cannonball Baker Sea-To-Shining Sea Memorial Trophy Dash (more affectionately known as the Cannonball Run), although the record was most recently set by Alex Roy and his 32-hour, seven-minute trek behind the wheel of a BMW M5 in 2006. Now, there's a new champion, who made the trip from east to west in a scarcely imaginable 28 hours and 50 minutes, behind the wheel of a 2004 Mercedes-Benz CL55 AMG. That's works out to an average speed of 98 miles per hour over the course of 2,813.7 miles.
His name is Ed Bolian, and Jalopnik has a writeup of the epic voyage that details everything from the history of the Cannonball Run to Bolian's preparation and trouble finding co-drivers, to the trip itself. It is well worth a read.