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Jaguar wants to become the British electric company

Jaguar has been telegraphing its electric future for years, and this week we're beginning to see it come to fruition. The company's Formula E race team officially launched September 8 with sponsorship, livery, and an interesting name for its racecar, the I-Type 1. It marks Jaguar's return to factory-supported racing and serves as a model for the company's future strategy. "The Formula E championship will enable us to engineer and test our advanced technologies under extreme performance conditions," Nick Rogers, executive director of product engineering at Jaguar Land Rover, said in a statement. "We will apply this vital knowledge as part of our real-world development." Formula E competition starts October 9 as the all-electric racing series begins its third season. Panasonic signed on as the title sponsor of the team. Formula E is a natural move for Jag and allows the British company to remain true to its racing heritage while still looking toward. The company claims seven Le Mans titles, which is the fourth-most in history, even though it hasn't won one since 1990. That's a great lineage, but Jaguar knows it's getting dusty. Launching a Formula E effort allows it to compete in a form of motorsports that should prove relevant to road-car technology. Jag is drawing on Williams Advanced Engineering (you might have heard of its F1 team) for the electric powertrain. Williams also helped with the development of Jaguar's C-X75 plug-in concept car. Meanwhile, we also captured an F-Pace crossover silently testing this week in the Alps. Though it looks like a normal F-Pace, spy shooters report it was producing no engine noise, leading (or perhaps leaping) to the conclusion it's the rumored electric SUV Jaguar is working on. Likely, this prototype has a diesel engine as a range extender. View 11 Photos Though the camouflaged F-Pace is great fodder for speculation, Jag's electric efforts are not a secret. Jaguar and Land Rover showed off three electric-vehicle demonstrators last year and the company is exploring everything from mild hybrids to full electric powertrains. JLR has filed paperwork to secure trademarks for I-Pace and E-Pace. "JLR is definitely rushing headfirst into electrification," said Ed Kim, vice president of industry analysis for research firm AutoPacific.

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.

Kahn and Evanta team up for hot-rod Defender, custom Barchetta

If you're familiar with the work of Afzal Kahn, it's probably for his tuned Range Rovers. And if you live in London, you may have seen his Bugatti Veyron with the F1 license plate. But the British tuner and self-styled "automotive fashion designer" is now embarking on a far more ambitious project. Kahn is teaming up with Ant Anstead of Evanta fame – responsible for rebodying Aston Martin DB7s to look like DB4 GTs and that full-scale DBR1/2 model kit – on a new outfit called Ant-Kahn. Far more than a tuning endeavor, Ant-Kahm is setting about creating truly unique (and uniquely British) automobiles. Their first project is called the Flying Huntsman, a long-nose Land Rover Defender that we imagine will emerge as something like a British take on the 1998 Jeepster concept crossed with something Icon might concoct. It'll pack a 6.2-liter GM LS3 V8 producing 550 horsepower, mated to a push-button six-speed automatic transmission, mounted close to the bulkhead with over 15 inches of extra bodywork and set to be unveiled within the coming months. Their second collaboration is set to yield the Evanta Barchetta previewed by rendering above. "Inspired by the design language of 1950s motorsport," the Barchetta pays homage to classic British and Italian roadsters. It's being built around a tubular frame with handcrafted composite Kevlar bodywork and powered by that same LS3 tuned to 450 hp but in a much lighter form than the Flying Hunstman. Only 20 examples will be made after its debut at the Goodwood Revival come September. An Aston Martin project codenamed WB12 is also in the works, painting a picture of an ambitious startup backed by two experienced operators whose projects we're looking forward to seeing come to fruition. Ant-Kahn – The birth of a groundbreaking collaboration between two leading figures in the UK automotive industry. Ant-Kahn is a collaborative partnership between Afzal Kahn - innovative automotive fashion designer and founder of the Kahn group of companies, and Ant Anstead, founder of expert vehicle manufacturer Evanta, and star of Channel 4's "For The Love of Cars". Working together under the Ant-Kahn banner, they will lead a resurgence in British specialist vehicle manufacture, with a number of projects already underway. Their focus is on luxury and quality, using modern prototyping and manufacturing technology, while maintaining the attention to details associated with traditional coach building.