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2016 Honda Civic Reveal | Autoblog Minute

Honda reveals the 2016 Civic in Detroit and Autoblog was on hand for a first look. Honda Autoblog Minute Videos Original Video Sedan Detroit reveal civic

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 asked for Takata inflator change without telling Feds

Honda and Takata could be in legal hot water after the automaker requested a design change to the supplier's airbag inflators in 2009 without notifying the government. According to internal documents obtained by Reuters, the updated parts had extra vents to reduce the force directed occupants if a rupture occurs. Automakers generally need to tell the National Highway Traffic Safety Administration about any safety-related changes to their vehicles, but Honda argues to Reuters that the disclosure wasn't necessary in this case. The company wanted the changes to the parts to "protect against the possibility of future manufacturing errors – it was not an acknowledgement of a larger design flaw in the inflators," Honda spokesperson Chris Martin told Reuters. The revised components started going into some Honda models in 2011. However, a jury might not agree with Honda's position, and a lawyer could argue the company had a responsibility to report the alterations. There's already a pending class action lawsuit against automakers and Takata for violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act, and there are many more from individuals. Among those is the case of a pregnant woman in Malaysia who died from a rupturing airbag. An investigation by the Independent Testing Coalition found three factors for the inflators'' rupturing. The use of ammonium nitrate is part of the problem, but the inflator's assembly doesn't keep moisture from reaching the chemical. If a vehicle is in a high humidity area, the danger is even worse. When they combine, these issues make the explosions more likely. Takata allegedly knew about the problem as far back as 2000 but hid the failures. Emails even reportedly showed workers joking about changing the data. Related Video: