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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.

Infiniti shows Q30 interior ahead of Frankfurt debut

Infiniti is supposed to debut the all-new Q30 hatchback at the 2015 Frankfurt Motor Show, but as the show is still a couple of weeks away and the company has elected to release yet another image, we aren't sure there'll be all that much to see come Sept. 15. With that in mind, then, we give you the first images of the entry-level hatch's cabin, and they're, um, wow. We knew the Q30 had a lot in common with the Mercedes-Benz A-Class but as these images show, this is far more than a common platform. The steering wheel, instrument cluster, switchgear, and shifter are direct from the Mercedes parts bin. From the looks of the images, the Q30 will even have a Mercedes-style key. This might not garner much attention in the budget ranks – take the Scion iA and Mazda2, for example – but this degree of parts sharing in the premium market is sure to raise some eyebrows. It's also a rather bewildering move for Infiniti. The company is, in effect, selling a Mercedes-Benz to any new customers it attracts. That'll certainly make a Q50 a hard sell when it comes time for an upgrade. Now, in Infiniti's defense, there are some differences in the layout here. The triple nozzle-style HVAC vents have been replaced with a more conventional pair of outlets, and the instrument cluster hood extends over the built-in navigation screen. That design decision, in particular, will certainly appeal to critics of the tacked-on-tablet look offered by Mercedes. The analog buttons for the multimedia system have also been tweaked, with the result looking far cleaner than the mess of buttons offered on Mercedes' products (we wouldn't be shocked to see this layout arrive on a facelifted A-, CLA-, or GLA-Class in the near future, though). Beyond those changes, though, there are multiple Mercedes design hallmarks here, including the location of the controls for the seat adjustments. You can check out the Q30's cabin in both right- and left-hand drive varieties courtesy of the images above. And for comparison's sake, we also included our most recent gallery of the Mercedes-Benz GLA-Class at the bottom of the page. Have a look and be sure to scroll down for the official press release. September 1, 2015 Countdown Frankfurt: First ever Infiniti Q30 active compact opens its doors before world premiere ? Q30 – The first global Infiniti compact ? Q30 interior design echoes daring expression of exterior ?

Mercedes-Benz C-Class named 2015 World Car of the Year

It's been a good morning for Mercedes-Benz, with three of the company's wares taking home awards today at the New York Auto Show. The 2015 World Car of the Year awards have just been announced, and the charming new C-Class sedan has taken top honors, beating both the new Volkswagen Passat and Ford Mustang. But Car of the Year isn't the only award Mercedes received this morning. Here are the other World Car announcements, where M-B was honored two more times. World Performance Car of the Year: Mercedes-AMG GT World Luxury Car of the Year: Mercedes-Benz S-Class Coupe World Green Car of the Year: BMW i8 World Car Design of the Year: Citroen C4 Cactus Congratulations, all around, to this fantastic group of cars.