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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.

Watch Honda lay waste to world's fastest lawnmower record

Honda has been working on its high-performance Mean Mower for a while now. In a recent attempt to take the top speed title, it didn't make its 130-miles-per-hour top speed target, but it still managed to set a new Guinness World Record has the world's fastest lawnmower at 116.57 mph. While the video certifying the run was uploaded to YouTube on April 1, this is no prank. The Guinness run was made on March 8 at the Idiafa Proving Ground in Tarragona, Spain.
To claim the record, the lawnmower had to run through a 100-meter speed trap, and it had to make two passes in opposite directions within an hour with the average taken between them. Guinness also specifies that to take the title the vehicle must still be able to cut grass and look like a lawnmower. The speed was still plenty to beat the previous record of 96.529-mph set by Bobby Cleveland on a Snapper race mower at the Bonneville Salt Flats in September 2010.
The Mean Mower is based on a Honda HF2620 Lawn Tractor that's been modified by British Touring Car Championship squad Team Dynamics. It has a newly fabricated chassis from 4130 chromoly steel and packs a 1.0-liter engine from a Honda VTR Firestorm motorcycle with a six-speed sequential gearbox. The engine produces 109 horsepower and 71 pound-feet of torque - enough power to reach 60 mph in around four seconds. The suspension and wheels come from an ATV, and the cutter deck has been remade in fiberglass. The grass bag holds the fuel tank, oil cooler and secondary radiator. The engine no longer actually cuts grass. Instead, the blade is driven by two electric motors.

In Honda Super Bowl ad, Ridgeline teaches sheep to sing

Honda hopes that its Super Bowl ad's combination of a classic Queen song and an adorable premise are enough to get customers excited about the 2017 Ridgeline. The 60-second spot for the new pickup airs during the game's third quarter, and the commercial is sure to leave Somebody to Love stuck in your head. The spot titled A New Truck to Love stars a sheep rancher who likes to listen to Freddie Mercury while hauling animals to the field. He even uses the truck's bed-mounted stereo to enjoy some tunes while at work. The sheep apparently like Queen's songs because they start singing along when their owner is away. This is the one of the better auto ads for Super Bowl 50 that we've seen yet. A look at the truck's capabilities would be nice, but at least the commercial's premise is highly enjoyable. Plus, it's hard not to enjoy Queen. Honda's spot could be a popular one during this year's game. Innovative 2017 Honda Ridgeline Pickup Leads the Flock in New Super Bowl Commercial Feb 1, 2016 60-second commercial features music by Queen, performed by some unlikely and unforgettable co-stars Directed by Bryan Buckley, creator of more than 40 Super Bowl ads Extensive multiplatform campaign to support launch of new TV spot Consumers can enter to win a first drive of new Honda truck at "Camp Ridgeline" Honda today offered a sneak peek of the brand's commercial for Super Bowl 50 starring the highly innovative 2017 Honda Ridgeline pickup, a wily herding dog and a flock of sheep singing a classic Queen song, "Somebody to Love." Fans tuning in to Super Bowl 50 on Sunday, Feb. 7, will see the 60-second spot, "A New Truck to Love," during the third quarter, but the entertaining commercial is now available for viewing in its entirety on Honda's YouTube channel (http://honda.us/BigGameCommercial). Directed by Oscar-nominated director Bryan Buckley — dubbed "King of the Super Bowl" for his role in bringing to life more than 40 commercials for the big game — the new Honda commercial imagines how a rancher might use one of Ridgeline's available features, the industry's very first factory truck-bed audio system, enabling music to play outside the truck. This poses the question, "What if his sheep learned how to sing?" with the commercial showing the sheep being dropped off by the new Ridgeline and then performing the classic Queen hit after the rancher departs. The spot signals not only Honda's return to the Super Bowl, but the return of the all-new Ridgeline to market.