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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.

Welcome Audi RS6 Avant, goodbye Lincoln Continental | Autoblog Podcast #592

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Assistant Editor Zac Palmer. Our editors cover a lot this week, starting with the news. They geek out over the Audi RS6 Avant coming to America, and mourn the loss of the Lincoln Continental. They address rumors of the Toyota Land Cruiser's demise, and analyze spy photos of the Ford Mach E electric crossover. They also honor the memory of the godfather of spy photography, Jim Dunne. Finally, they talk about driving the BMW Z4, Ram 1500 EcoDiesel, and another diesel, the diesel-powered Mazda CX-5 Skyactiv-D. Autoblog Podcast #592 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Audi RS6 Avant headed to U.S. Lincoln Continental discontinued Rumor: Toyota Land Cruiser to be canceled Ford Mach E spied RIP spy photographer Jim Dunne Cars we're driving: 2019 BMW Z4 sDrive30i 2020 Ram 1500 EcoDiesel 2019 Mazda CX-5 Diesel Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:      

Audi Nanuk Concept likes Parcour, puts four rings on it

Without a doubt, one of the coolest (and weirdest) debuts from this year's Geneva Motor Show had to be the Italdesign Giugiaro Parcour concept. And ever since the off-road performance coupe with Lamborgini guts made its debut, we've sort of been smitten with it. We figured this neat two-door would be a one-and-done show car, but to our delight, the folks at Italdesign worked with Audi to create this, the Nanuk Quattro Concept, which makes its debut here at the 2013 Frankfurt Motor Show.
Unlike the original Parcour, the Nanuk ditches the high-revving Lambo-sourced 5.2-liter V10 in favor of a twin-turbocharged 5.0-liter diesel V10. That's a beast of an engine, and with 544 horsepower and 738 pound-feet of torque on hand, it means the 4,189-pound, all-wheel-drive Audi can scoot to 62 miles per hour in under four seconds. Of course, being a diesel, it's surprisingly efficient, and we're told the Nanuk can achieve up to 30 miles per gallon.
As much as we sort of hate the term, the Audi Nanuk is a proper coupe-crossover if we've ever seen one, and utilizes the automaker's next-generation adaptive air suspension (the Parcour had a different pushrod arrangement) that offers a range of almost three inches of height adjustment. There's also an integral steering setup, meaning the rear wheels can turn up to nine degrees in the opposite direction of the front rollers, improving maneuverability.