2006 Land Rover Lr3 Se / Dual Moonroof / Memory Seat on 2040-cars

Auto blog

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.

Autoblog Podcast #402

Episode #402 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the Audi A3 TDI Challenge and luxury car features we not-so-secretly love. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #402: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Audi A3 TDI road trip Luxury features we're sort of ashamed we love In The Autoblog Garage: 2014 Land Rover LR4 2015 Aston Martin Vanquish 2015 Dodge Challenger R/T Scat Pack Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:17:40 Rundown: Intro & Garage - 00:00 Audi A3 TDI Challenge - 42:51 Luxury Features We Love - 01:00:05 Q&A - 01:09:17 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Podcasts Aston Martin Audi Dodge Land Rover Diesel Vehicles Luxury Performance aston martin vanquish

Jaguar Land Rover recalls Takata airbag-equipped cars

In the latest chapter of what feels like the never-ending recall, Jaguar Land Rover announced that it's calling back 2009-2011 Jaguar XFs and 2007-2011 Land Rover Range Rovers for defective Takata airbags on the front passenger side. These Takata airbags have propellant that may have degraded and, if activated, could release metal shrapnel. The company is breaking up the recall into four phases, since currently there are not enough parts to do a full recall. Since the airbags can be more seriously affected by high heat and humidity, the first phase will cover vehicles that were sold and/or registered in regions with high temperatures and humidity. The regions included are as follows: Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico, American Samoa, Guam, the Northern Mariana Islands, and the US Virgin Islands. Other phases will begin as parts become available, and priority will be given to regions at greater risk of having defective equipment. Jaguar Land Rover encourages owners of affected vehicles to go to www.SaferCar.gov to check if their vehicle is included in the current recall. The first phase includes 54,000 of 108,000 affected vehicles. The company is also notifying owners of the issue, who will eventually get a second notification when parts are available so they can schedule a time to have the airbags replaced. Related Video: