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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 C-Class Coupe caught

The Mercedes C-Class Coupe is getting ready for a launch later this year and that means it has to come out and test its long, wide shoulders. Spy photographers caught it in camo around Stuttgart, and there's a bolt-on piece that makes it appear to have a BMW 6 Series-like trunk, but you can ignore that. Genuine changes include it being lower, wider, and "noticeably sportier" as we've been told, and the side mirrors are mounted on the doors instead of in the triangle between the A-pillar and beltline, where they are on the sedan. As with the new sedan, this coupe looks much more mature than the current model, and even under the camo you can see how the sculpting has been emphasized. Notice how the upper swage maintains its punch as it runs through the door handle and over the rear wheel, instead of dipping below the door handle and softening as it does on the sedan. It could get an intro at the Paris Motor Show, maybe even with the convertible by its side, and it's expected to go on sale in Europe later this year. Let your eyes have a taste in the spy shots above.

Mercedes gets handy with Apple Watch app

Whether you yourself have been caught up in Apple Watch fever or not, automakers have been embracing the new wearable device one after the other. The latest is Mercedes-Benz. The MB Companion App for the Apple Watch initially focuses on seamless navigation. Punch in your destination on your watch or iPhone and it'll port over to the onboard navigation system in your Merc. Park the car, get out and the directions will switch back over to the Apple Watch to guide you from your parking spot to your destination on foot. It's similar to the app Mercedes had designed for Google Glass, only in this application it actually stands a chance of catching on. Designed by Benz's Silicon Valley R&D center, the Apple Watch app is being rolled out this fall in the new C-Class and S-Class equipped with the COMAND Online navigation system. It's earmarked to to spread to other models as well, with further updates to the app planned to allow it to display the vehicle's fuel level, range, odometer and maintenance code. Of course, Mercedes isn't the first automaker to release an app for the Apple Watch. It's not even the first German automaker to do so: BMW previewed its app for the device back in September, and Volkswagen got on board earlier this month. Mercedes-Benz to introduce new App: Guided all the way: Mercedes-Benz is one of the first to introduce Door-to-Door Navigation with Apple Watch May 15, 2015 Stuttgart/Sunnyvale. Mercedes-Benz creates an intelligent integration between Apple Watch and Mercedes-Benz vehicles with its new MB Companion App. The MB Companion App allows Mercedes-Benz costumers to search for directions on the Apple Watch or on iPhone initiating a complete door-to-door experience. A seamless integration unfolds: giving walking directions to the car on the Apple Watch, driving directions on the vehicle navigation system and again walking directions on the Apple Watch from the car to the final destination. The destination that the driver selects on Apple Watch is passed to Mercedes-Benz COMAND Online once the driver starts the vehicle. He then receives safe and non-distracting driving directions to his selected destination from Mercedes-Benz navigation. When the driver parks and leaves his car, Apple Watch gives him walking directions to the final destination making it the perfect guide for "Last Mile Navigation".