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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 to reveal new Civic Coupe in LA

Honda will reveal 2016 Civic Coupe next week at the Los Angeles Auto Show. The company isn't saying much, but promises the two-door will "showcase even sportier lines" than the sedan that launches this week. The coupe will also feature the same engines as the four-door model, which is powered by either a 2.0-liter inline-four or a 1.5-liter turbo. These will just be the tip of the iceberg in what Honda promises will be "the most diverse and innovative lineup in Civic's 43-year history." Additional variants to follow, including a five-door hatchback, a warmed-up Si model, and a smokin' hot Type R version that will be the first of its kind to be offered in the US. The first sedans will begin arriving at dealers this month, with the coupes to follow in the new year. For now, the 2016 Honda Civic Coupe will be showcased alongside the new Clarity FCV that debuted in Tokyo last month and will be marking its North American debut in LA. Honda to Debut 2016 Civic Coupe and Next-Gen Clarity Fuel Cell at 2015 Los Angeles Auto Show Nov 10, 2015 - TORRANCE, Calif. - World debut of all-new 2016 Civic Coupe elevates sporty styling and dynamic performance on 10th-generation Honda Civic platform - 2016 Civic Coupe marks next step of ambitious cadence in new Civic lineup - Clarity Fuel Cell vehicle makes North American debut in advance of U.S. launch in 2016 Honda will reveal details on two exciting new expressions of its Clean, Safe, Fun brand values at the 2015 Los Angeles Auto Show with the world debut of the all-new 2016 Civic Coupe, the second in a line of new 10th-generation Civic models that will be launching over the next 18 months, and the North American debut of the all-new Honda Clarity Fuel Cell sedan, providing an early look at Honda's next-generation approach to low-carbon mobility, scheduled to launch in the U.S. next year. 2016 Honda Civic Coupe Built on the same athletic Civic platform that underpins the highly anticipated 2016 Civic Sedan that goes on-sale at Honda dealerships nationwide on November 12, the 2016 Civic Coupe will showcase even sportier lines, with an intimate, high-tech interior and engaging powertrain options to continue Honda's focus on launching the sportiest and most expansive Civic lineup in brand history.

Sunday Drive: Variety is the spice of life

If there's any one new vehicle the entire world is anxiously waiting for, it's the Jeep Wrangler. Yes, of course the iconic off-roader has a loyal following here in America, but you could plop a Wrangler pretty much anywhere on the globe and everybody will know what it is. Put simply, the redesigned 2018 Jeep Wrangler JL has big, muddy shoes to fill, and the readers of Autoblog are just as interested in the Wrangler's rebirth as anyone else. Moving along, we were fortunate enough last week to spend a bit of time in nearly every version of the venerable Volkswagen Golf all in one day. There isn't a Golf we don't like, but there's one, easily identifiable by its three-digit name, that stands above all the rest: GTI. We think it's the best Golf you can buy, even if there's an R-badged variant that slots above the GTI in VW hierarchy. Rounding out our recap are three vehicles that could hardly be more different. The 2019 GMC Sierra, which was seen wearing pretty light camouflage, is a truck. The Lamborghini Terzo Millennio – which isn't going to go on sale, ever, at any price – is a conceptual supercar. And the Honda CB1000R is a retro-themed naked standard motorcycle. Variety really is the spice of life. 2018 Jeep Wrangler spy shot mega gallery Driving nearly every VW Golf: Base, GTI, R, Alltrack — here's what we learned 2019 GMC Sierra spied sporting just a thin wrapping The Lamborghini Terzo Millennio is a brutally fantastic EV supercar concept Honda unveils 2 new motorcycles, including retro-flavored CB1000R Image Credit: Brian Williams GMC Honda Jeep Lamborghini Volkswagen Technology Truck Convertible Crossover Hatchback SUV Performance sunday drive vw golf gti lamborghini terzo millennio