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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.

Mercedes-Benz C-Class 'bleeding seat' problem resurfaces [UPDATE]

UPDATE: We received the following statement from Mercedes-Benz: "In rare instances, we incorrectly ordered some of the replacement parts for the seating surfaces. The approved replacement parts will not demonstrate the previous symptoms." It appears Mercedes-Benz has another problem with "bleeding seats" in 2015 C-Class sedans. As we reported in January, an oily residue has been appearing on some versions of the C-Class with man-made MB Tex upholstery, making it look as though the seats were grimy or "bleeding." Mercedes issued a technical service bulletin to its dealers to remedy the problem, but now we're hearing the fix isn't complete. Small parts of the seats – the rear bolsters and a piece below the center armrest – weren't replaced during service and then developed the oily reside again, a source tells us. This occurred within a few days of their service appointment. The dealer followed Mercedes' instructions, our source said, and their C-Class appears to have been one of the first cars fixed. "I'm absolutely flabbergasted at this point ... The new C-Class is such a good car. This is just a shame," they told Autoblog. The bleeding seat issue appears to affect US-built C-Class models with the MB Tex vinyl and possibly other interiors. The bleeding often occurs when a car has been sitting in the cold and then heats up quickly. The number of cars affected is unclear, though the C-Class owners have been vocal in the MBWorld.org forum. At the time of our original report, Daimler AG, parent of Mercedes-Benz USA, said it was aware of the issue and that no injuries had been reported. The residue usually washes off with soap and water. The National Highway Traffic Safety Administration had no recalls, complaints or investigations recorded about the issue as of Wednesday. The fix at the dealer involves changing out the headrest and seat covers, except for a part of the passenger seat that needs to be calibrated by the factory, according to the bulletin. The C-Class is a critical car for Mercedes as it battles BMW, Lexus and others for supremacy in the ultra-competitive luxury segment. The C-Class, which launched last fall, is moving upmarket as Mercedes reshuffles its lineup with the addition of the CLA sedan. The C-Class was the company's best-selling model in January with volume of 6,236 units.

Aston Martin Vantage vs. Mercedes-AMG GT C Review | Translating German into English

GROssBRITANNIEN — No car matches the new Aston Martin Vantage as closely as the Mercedes-AMG GT, the two sharing both their 4.0-liter twin-turbocharged V8 and electrical architecture while competing for the same market niche. So, of the many challenges Aston Martin faced when developing it, ensuring that the Vantage had a unique identity must have weighed more heavily than any other. The added spice to this confrontation is the GT's status as halo model for AMG. Meanwhile, Aston Martin's brand identity, built on the sharp-suited machismo embodied by a certain big-screen spy, is a make-or-break issue for the company. The identity problem has fascinated me since the AMG deal was first announce in 2013. So exploring the Vantage on British roads with the GT literally filling the mirrors is a big deal. Now, finally, we have directly competing products with which to explore the theory. And there's much to like in both, not least of which is that common powerhouse of an engine. While they don't share a platform, both use the classic front-engine, rear-drive, transaxle layout, with traditional driving manners to match. Some quick number-crunching as an appetizer: The AMG GT C you see here has the dry-sumped M178 derivative of the V8, with 550 horsepower and 501 pound-feet of torque, driving the rear wheels through a transaxle-mounted, seven-speed dual-clutch transmission and fully active electronic locking differential. It's 179 inches long, weighs 3,748 pounds and will clear 0-60 mph in 3.6 seconds en route to 197 mph. The Vantage has the wet-sumped M177 version of the same engine, as featured in countless AMGs and shared with the DB11 V8. It makes 503 hp, 505 lb-ft and drives the rear wheels through a transaxle-mounted, eight-speed automatic gearbox and fully active electronic locking differential. Sounding familiar? It's comparable in overall length but a couple of inches longer in wheelbase, and weighs pretty much the same as the GT C, give or take a few pounds. It hits 60 in 3.5 seconds and tops out at 195 mph. Both have adaptive dampers and a variety of driver modes, both are built from aluminum and both are at the sportier end of the GT spectrum. The two U.K.-market cars you see here cost just more than $180,000 with options. Pretty darned close, then. Numbers are one thing.