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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.

Honda Civic Tourer images arrive early on web

Honda provided a teaser sketch of its Civic Tourer concept wagon about a month ago (right), but today, just a couple days before its official debut at the Geneva Motor Show, we've found these official pics of the car in question from WhatCar?
The Civic Tourer concept adds a little length and height to the current Civic hatchback sold in Europe, stretching the shape every which way to make a new wagon model that will compete with cars like the new Volkswagen Golf Variant, which is also making its debut in Geneva this week.
As we mentioned when Honda released the teaser sketch last month, the European Civic is different from the Civic sold here in the US, so the production version of this concept, which should debut in the fall, will never see the inside of a dealership in the States. Do you care, or does the smaller Fit fill that role well enough for Americans?

Honda installs 3-minute, fast-fuelling hydrogen fuel station in California

OK, but let's see how well Honda can control hydrogen refueling temperature in Houston or Buffalo. That's what some pessimists may be saying now that the Japanese automaker has installed a fast-fueling hydrogen station in the oh-so-temperate environs of Torrance, CA. That city is about 20 miles southwest of downtown Los Angeles and a sliver of it actually touches the Pacific Ocean, so we're not talking about wild swings in air temperature here. Honda is calling its fast-refueling platform the MC Fill (we'd expect a lawsuit if it was McFill, even though that'd be clever) and says that filling up takes about 45 percent less time than the typical hydrogen-refueling station. That's because the system monitors the ambient temperature in order to speed up the process. There's more scientific stuff in there - for example, the fact that the MC name comes from the "two key values in a heat transfer equation- 'M' for mass and 'C' for specific heat" - but the long and the short of it is that a hydrogen fuel-cell vehicle can fill up in less than three minutes. That's pretty impressive, despite the distinct lack of vehicles needing to charge that fast today. Honda unveiled its FCEV Concept vehicle at the Los Angeles Auto Show last November. The five-seat vehicle has a range of more than 300 miles, while its fuel-stack power density is about 60 percent higher than its previous version. The production version is due to arrive in the US in 2015. Check out Honda's press release below. Honda R&D Installs Advanced Fast-Fill Hydrogen Refueling Station -- New station on Honda R&D Americas' Torrance, California campus built in anticipation of Honda's next-generation fuel cell electric vehicle, due in 2015 -- Honda-developed hydrogen refueling protocol significantly reduces fill time TORRANCE, Calif., March 3, 2014 /PRNewswire/ -- Preparing for the 2015 introduction of the next Honda fuel cell-electric vehicle (FCEV), Honda R&D Americas has installed a state-of-the-art hydrogen refueling station on its Torrance, California campus. This advanced station will serve as a platform for demonstrating and validating the enhanced hydrogen fueling protocol developed by Honda, named the MC Fill. With the aim of standardizing this new protocol, Honda will make the new research station available to other automakers to further validate the MC Fill protocol's performance and functionality.