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Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.

GMC explains why the Hummer EV SUV has only 830 horsepower

GMC's 2022 Hummer EV pickup made its debut in late 2020 with a headline-grabbing 1,000-horsepower rating. Its SUV sibling broke cover yesterday with 170 fewer horses, so GMC executives had some explaining to do. Al Oppenheiser, the EV's chief engineer, pointed out that the SUV's wheelbase is about nine inches shorter than the truck's, which is called an "SUT" in GMC-speak. It's also about 20 inches shorter overall. Size matters in the electric car world; GMC can't stuff the SUT's big battery pack in the more compact SUV, and this directly influences power. He added that it would have been possible to build a 1,000-horsepower SUV by making changes to the battery pack's layout. His team would have needed to reduce cargo capacity and get rid of the flat loading floor, which were compromises that engineers were not prepared to make. Ultimately, 830 horses should be plenty for most drivers. "Frankly, we are not sorry that it's only 830 horsepower. There aren't many internal combustion engines that can say that. Will we be able to grow horsepower in the future? We are going to push that capability, and as the technology gets to the point where our batteries are smaller and more efficient, we will improve performance with any chance we get," Oppenheiser said. It helps that the Ultium battery technology GMC uses is extremely modular. Less powerful versions of the Hummer SUV are in the cards, too. At launch in early 2023, the model will exclusively be offered with the aforementioned 830-horsepower drivetrain, which offers around 300 miles of driving range. Pricing will start at $105,595 before options are factored in. Several months later, GMC will release an EV2X variant with up to 625 horsepower, about the same amount of driving range, and an $89,995 price tag before incentives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. GMC Hummer EV reveal

2019 GMC Sierra shows off new headlights in Los Angeles

Despite being just three weeks in to 2018, it's not too early to dub this the year of the truck. At last week's Detroit Auto Show, we saw the debuts of the 2019 Chevy Silverado, 2019 Ram 1500 and the return of the 2019 Ford Ranger. As with every new Silverado, a sister vehicle follows from GMC. Just take a look at these new spy shots of the 2019 GMC Sierra 1500. These photos were taken out in Los Angeles, presumably for some warm weather testing outside of Michigan. At the Silverado's debut, GM VP Mark Reuss said there would be a significant difference between the Silverado and Sierra with this new generation. The grille on the Sierra appears to be far more upright and rectangular, contrasting the rounded look of the new Silverado. The headlights are larger and more upright. The same goes for the foglights. The profile and rear look fairly similar, though the fenders on the Sierra are more squared off. While we don't know what will rest under the Sierra's hood, expect it to share powertrains with the Silverado. That would mean updated versions of the 5.3-liter V8 and 6.2-liter V8 would be joined by 3.0-liter inline-six diesel. Look for the new Sierra as soon as the Chicago Auto Show next month. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 GMC Sierra spy shots Image Credit: Brian Williams Design/Style Spy Photos GM GMC Truck gmc sierra 1500