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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 Super Cub first vehicle to receive 3D trademark in Japan

The term "iconic" gets thrown around a lot, but if there was ever a design worthy of the honorific, surely it's the Honda Super Cub. That's not just our opinion, though: it's the official word from the Japanese Patent Office, which has recognized the classic scooter's shape with a three-dimensional trademark.
The category was introduced in Japan back in 1997 to immortalize distinctive designs, and is subject to very strict criteria. In fact, this marks the first time it has been applied to a vehicle - and one of the few industrial products to be awarded the recognition.
Little wonder it was applied to this little wonder, too. With over 87 million units made since its introduction in 1958, Honda claims the Super Cub to be "the world's largest selling vehicle," with production taking place at 15 factories in 14 countries and sales in 160 markets around the world.

Honda worker dies in forklift accident at Ohio R&D complex

Ghouse Gulam, a contract worker at the Honda R&D Americas complex in Raymond, OH, died January 4 after being hit by a forklift and suffering a skull fracture. Union County Sheriff's Office Lieutenant Michael Justice tells Autoblog that this is still an open investigation, but there are no pending charges. He said it could be about three months for the authorities to make a final determination until the coroner's report is complete. According to Automotive News, the accident happened between two buildings on the site's campus, and the forklift was carrying an empty trash bin when it struck Gulam. A media release (as a PDF) from the Union County Sheriff's Office showed that police responded at 6:01 AM. Justice would not reveal the name of the driver, but said that the person had retained legal council. The US Occupational Safety and Health Administration also opened an investigation, according to AN. In a statement (in full below), Honda expressed sympathy to Gulam's family. "Associates of Honda R&D Americas are deeply saddened and extend heartfelt sympathy and condolences to family members, friends and colleagues." On Monday, January 4, 2016, at approximately 6:00 a.m. Ghouse Gulam, a contract worker at Honda R&D Americas, Inc. in Raymond, Ohio, was injured in an accident involving a forklift driven by another contract worker. On-site emergency personnel responded immediately to the incident, followed by emergency responders from the Raymond, Ohio based Liberty Township Fire Department. Mr. Gulam was transported by Liberty Township Fire to Memorial Hospital of Union County where he later passed away. Mr. Gulam, 61, was a resident of Livonia, Michigan. Local law enforcement officials were notified of the incident. With respect for the privacy of Mr. Gulam and his family, no additional details will be provided. Associates of Honda R&D Americas are deeply saddened and extend heartfelt sympathy and condolences to family members, friends and colleagues.