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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.

Is Acura working on a premium minivan?

Here's a vehicle that nobody saw coming. Unless Honda/Acura is keen to play tricks on us, our spy shooters recently caught what appears to be an Acura minivan fully camouflaged for testing on some back roads on a rainy day.
Details on the disguised minivan are rather scarce, but it certainly bares all the hallmarks of an Acura. The front grille alone gives it away with a look that mimics the latest MDX, and note that the orientation of the rear door handle heavily suggests that it slides to open. Moving inside, the tester appears to borrow some tech from the luxury brand's parts bin too, and the Acura logo seems to be covered in tape right in the middle of the steering wheel.
Mechanically, our spies believe that the production version of Acura's minivan might borrow the brand's V6, nine-speed automatic and Super Handling All-Wheel Drive - a similar layout to some trims of the TLX. The photographers also think that the vehicle is a little wider than the current Honda Odyssey to give occupants a bit more room. Given the more luxurious focus, the high-end model would surely carry seven people with a bit more opulence than the standard Odyssey, especially, we'd imagine, for second-row passengers. A launch for this posh hauler could be slated for the 2016 or 2017 model years.

2015 Honda Civic Type R First Drive [w/video]

"VTEC just kicked in, yo." What's now a tired meme was once the greatest part of Honda ownership: the abrupt switch in power and tone as the engine's variable valve timing switched to the high-rev profile. The original VTEC gave way to i-VTEC, a continuously-variable system that works better on paper, but lacked the two-mode thrill. Fast forward to the 2015 Civic Type R, which combines modern VTEC with turbocharging for the first time on this nameplate. It's a pair as perfect as peanut butter and jelly. Or Han and Chewie. With ratings of 306 horsepower and 295 pound-feet, it's the most powerful Civic ever sold. Boost just kicked in, yo. The Civic Type R has always been an object of unfulfilled desire for enthusiasts in the US and Canada. While Europe and Japan have had multiple generations of the hottest Civic, we made do with the less powerful versions carrying the Si badge. Unfortunately, the 2015 model is another one we can't have. That said, this Euro-spec car's heart will form the basis of a new Civic Type R that's coming to America, possibly as early as 2016 as a 2017 model. The US will even get a cool five-door hatchback shell similar to the one you see here. If the next North American model – previewed by the coupe concept from this year's New York Auto Show – is any indication, our tenth-generation Civic is headed in a welcome styling direction. And before the Type R arrives, sweet turbo/VTEC goodness is promised in the form of a 1.5-liter four-cylinder engine that will power less sporty Civic models, including an Si that will slot below the Type R. There is an anchor's worth of stopping power available. Proving how focused the new Type R is towards gearheads, the sole transmission option is a six-speed manual, which makes it easy to exploit the engine's 7,000 rpm redline and 6,500 rpm power peak. This engine-speed ceiling is a thousand revs lower than the last naturally aspirated Type R. Indeed, the era of turbocharging seems like the end of Honda's history of screaming high-rev motors. But forced induction trades revs for torque. The new car has more than twice the oomph of the previous, 198-hp Type R. Our question then, is if that power and torque come with any character. The 2015 Honda Civic Type R is a very capable car, both on the street and at the track. We expected a stiff ride, but it's not bone-jarring. Double-jointed front struts and a clever knuckle design isolate steering from the up-and-down movement of the suspension.