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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.

Kia blind spot monitoring and crash avoidance wins 2020 Autoblog Technology of the Year Award

The Autoblog 2020 Technology of the Year winner is Kia’s blind spot system. We judged the combination of blind spot monitoring and active blind spot crash avoidance on the 2020 Kia Telluride as the best in the industry. The Kia blind spot system won with 204 points, beating the Mercedes E-Active Body Control (189), Subaru DriverFocus (182) and Ram Multifunction Tailgate (139). AutoblogÂ’s editorial staff extensively tested the technologies last fall in Michigan. Three main questions were asked, and editors assigned point values out of 10 based on how well these technologies answered them. The questions were: What is its purpose? Does it work? Does it advance the industry? KiaÂ’s system starts with a traditional blind spot warning light in the side mirror. When equipped with the available head-up display, thereÂ’s a second warning light beamed onto the windshield in your line of sight adjacent to other information. This lets you know if thereÂ’s a car in your blind spot without even turning around to look. It isnÂ’t a feature exclusive to the Telluride (Mazda does something similar), but Kia takes it a step further. The next level of warning is slightly more intense. If you activate the turn signal while the car senses something is in your blind spot, the steering wheel begins to gently vibrate. ItÂ’s not a violent or distracting buzz, but itÂ’s enough to grab your attention. A warning chime is also activated at this time. 2020 Tech of the Year Winner.00_12_25_10.Still030 View 24 Photos The cherry on top is something Kia calls the “Blind Spot View Monitor.” It uses a system of cameras to display a live camera feed of either the left or right blind spot in the central digital portion of the gauge cluster when the turn signal is activated. Hyundai uses a similar system in the Palisade and new Sonata. The monitor in the cluster allows you to see your blind spot from the ground up in the gauge cluster without having to turn your head. The view is dependent upon road conditions, but itÂ’s a nicely integrated blind spot camera feed – the resolution is solid, and itÂ’s still useful to a degree at night. We find KiaÂ’s implementation to be superior to HyundaiÂ’s, where the camera feed takes over the digital speedometer or tachometer when you flip on the turn signal. Kia sets the camera feed in the center screen where the trip computer normally displays.

Lexus GX and TX, and Volvo EX30 revealed | Autoblog Podcast # 784

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. They've been driving the Mercedes-Benz GLB Class, as well as the Kia EV6 and EV6 GT. In the news, the new Lexus GX and TX SUVs have been revealed, Ram previewed its compact Rampage truck, Chevy has a Panther-inspired Camaro Collector's Edition, and Volvo unveiled is EX30 city EV. Our hosts take to Reddit for car recommendations, and to the Mailbag for beer tips. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 784 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Mercedes-Benz GLB Kia EV6 vs. EV6 GT 2024 Lexus GX revealed 2024 Lexus TX revealed Ram Rampage is a 1500-like unibody truck for Latin America 2024 Chevy Camaro Collector's Edition pays tribute to Panther code name 2025 Volvo EX30 revealed Spend my Money Mailbag Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: