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Honda returning to F1 as McLaren partner

Honda must really love Formula One racing, as evidenced by today's announcement that the Japanese automaker is returning to the world's most popular motorsport for the fifth time in its history. Honda has entered into a team partnership with McLaren to develop and manufacture power systems - the engine and energy recovery system - for the 2015 F1 season. McLaren will be in charge of chassis development and running the day-to-day operations of this newly formed team, which will be called McLaren Honda.
Honda says its decision to reenter F1 racing had to do with new regulations for the 2014 season that require cars to be powered by a 1.6-liter direct-injection turbocharged V6 engine paired with an energy recovery system. Apparently the chance to develop this particular powertrain for F1 racing was too enticing for Honda to pass up, which suggests it has bigger plans for the knowledge learned while developing these systems beyond just winning races.
As mentioned, this is Honda's fifth foray into F1 racing, the first being back in 1964 when it participated as its own team through 1968. Its longest stint came from 1983-1992 as an engine supplier, during which time it partnered with many teams, including McLaren, and won six Constructor Championships. Honda then returned from 2000-2005 as an engine supplier for British American Racing (BAR) before buying that team outright and running it as Honda Racing from 2006-2008. Then the global economic crisis hit. Honda's return to the sport will surely be welcomed by fans as its partnership with McLaren should produce a formidable team. It's a strong signal that the company has returned to health after a few tumultuous years, and hopefully its rediscovered motorsports mojo will help yield more passionately engineered street cars.

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.

8 excellent minivans you can't buy in the United States

Americans have fallen out of love with minivans. For some reason, a super-practical, multi-seat vehicle that can haul almost anyone and anything is less popular than giant SUVs that make it difficult to access the third row. The rest of the world hasn’t forgotten the minivanÂ’s virtues, and many well-known automakers offer a whole rainbow of family carriers, some of which offer clever camping and luxury features. Here are some forbidden-fruit vans we canÂ’t buy in the United States. Toyota Noah/Voxy The Toyota Noah and Voxy have been around since the early 2000s and sit below the Alphard (more on that below) in the automakerÂ’s van line. ToyotaÂ’s sales model in Japan seems complicated from the outside, as the company sells different vehicles at different types of dealerships. The Noah was originally sold at ToyotaÂ’s Corolla Stores before the automaker shifted its model to the van in all locations in 2020. Now in their fourth generation, the van twins offer unique family-friendly features like a step system and use ToyotaÂ’s latest hybrid system. Toyota Alphard The Toyota Alphard is a stately minivan sold in several countries and regions, including Bangladesh, China and the Middle East. ItÂ’s now in its third generation and features Lexus-like styling with a massive cabin. The Alphard is available with several powertrain options, including some it shares with Lexus and other Toyota models, including the ES 350 and Highlander. Toyota equips the Alphard with several advanced safety features, and the van can comfortably carry up to eight people. That said, the Alphard is more expensive than many of its rivals in the markets where itÂ’s sold, so people may consider other options. Mitsubishi Delica If youÂ’ve spent any time in the automotive corners of social media, youÂ’ve seen a Delica. TheyÂ’re everywhere now, as Americans figure out that a small, light van with real ground clearance and four-wheel drive is a great thing. Mitsubishi has made different vehicles under the Delica name, including a truck and a kei car, but the minivan is the one most of us recognize. The Delica entered its fifth generation way back in 2007 and got a facelift in 2019. ItÂ’s still available with four-wheel drive, though Mitsubishi also sells a front-drive version. TodayÂ’s van is light years away from the classic models we can import here and features a massive grille with unique front lighting fixtures.