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Toyota Camry, Honda Civic inventories mounting as US automakers make inroads

Two of the hottest-selling cars in America aren't quite as hot as they used to be. The Toyota Camry and Honda Civic are both seeing dealer supplies increase in the face of renewed competition from the much-improved Detroit Three.
According to a report from The Detroit News, the Camry's dealer inventory is 15 days higher than its seasonal average, while the Civic is 25 days above average. Things aren't expected to get better for Toyota and Honda, as RBC Capital Markets analyst Joseph Spak marked the two Japanese offerings as "at risk for reduced output."
The Detroit Three, meanwhile, are seeing supplies dwindle as demand increases, especially for the Ford Fusion, which has seen an 18-percent increase in 2013 sales, and the Chevrolet Cruze, which was second only to the Camry in June 2013 sales.

2017 Honda Civic rolls into dealerships Monday starting at $20,535

Honda announced pricing for the British-built Civic hatchback today as well as availability. Starting this Monday, you'll be able to walk into a Honda dealership and pick up a hatch for as low as $20,535. For that price, you can take home a base-level Civic LX with the 1.5-liter, turbocharged engine and a 6-speed manual transmission to channel the 174 horsepower and 167 lb-ft of torque to the pavement. Stepping up to the Sport trim adds a dual-outlet center-mounted exhaust and brings the power total to 180 and torque up to 177. The price also jumps to $22,135. Adding the CVT to either trim adds an extra $800 and, although horsepower ratings remain unchanged, the torque output drops down to 162 on both models. The highest Civic hatchback trims are the EX, EX-L with navigation and Sport Touring, and they are all only available with a CVT. The EX and EX-L trims start at $23,635 and $26,135 respectively, and bring niceties including heated seats and dual-zone climate control. The new Sport Touring trim tops the range and takes everything the EX-L and normal Sport trims have and adds red illuminated instruments, and a 540-watt 12-speaker sound system. Unlike the other trims, the Sport Touring model will not be available until later this year and pricing hasn't been announced yet. Compared with other hatchbacks in the compact car segment, the Civic hatch has a slightly higher starting price. Most of the competition starts at just under $20,000. However, the Civic does effectively top the charts for horsepower. The only car that beats it is the Mazda3 hatchback with the 2.5-liter engine, which produces 184 horsepower. However, you'll have to spend at least $26,280 to get that version of the 3. The next closest model is the VW Golf with 170 horsepower and a starting price of $20,715, and the rest of the competition produces 160 horsepower or less. So if you're looking for some pep on a budget, the Civic looks like a solid choice, and if it drives like the sedan and coupe, it looks even better. Related Video: Featured Gallery 2017 Honda Civic hatchback Image Credit: Honda Honda Hatchback Economy Cars pricing honda civic hatchback compact cars civic hatchback

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.