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Lewis Hamilton wins in Hungary to stretch F1 title lead over Sebastian Vettel

BUDAPEST (Reuters) - Formula One world champion Lewis Hamilton won the Hungarian Grand Prix from pole position for Mercedes on Sunday to go into the August break with a 24-point lead over Ferrari rival Sebastian Vettel. Vettel was runner-up in Hungary, 17.1 seconds behind, and survived a late collision with Hamilton's team mate Valtteri Bottas who also banged bodywork with Red Bull's Australian Daniel Ricciardo. The victory was Hamilton's record sixth in Hungary, fifth of the season and 67th of his career. Ferrari, mourning the death of former chairman Sergio Marchionne, had Kimi Raikkonen finish third to complete a podium of champions on a dry and sweltering afternoon at the Hungaroring outside Budapest. In a race effectively decided by Saturday's wet qualifying, when Mercedes locked out the front row of the grid against expectation, Hamilton was never challenged. "We came here knowing Ferrari would be really quick this weekend so to come out with these points, we'll definitely take it as a bonus," said Hamilton in a pitlane interview after embracing team members. "I'm really happy with how strong it's come in the last couple of races. We've got to come strong in the next half," added the 33-year-old, who won in Germany from 14th place on the grid a weekend earlier. After 12 races, Hamilton has 213 points to Vettel's 189. Tire strategies were also crucial at a relatively slow and twisty circuit where overtaking is always difficult, with track temperatures hovering around 50 degrees Celsius. Vettel started on the softs and went for a longer first stint than Mercedes, worried by Ferrari's quick getaways, who opted for ultrasofts that were quicker at the start but faded more rapidly. Lining up in fourth place on the grid, Vettel grabbed third from Raikkonen immediately but could not find a way past Bottas who slotted in behind Hamilton as a defense against the red threat. "We were out of position. I think we could have gone with Lewis today with the race pace," said Vettel. "P2 is not really what we wanted this weekend but I think it was the maximum today." ANGRY VERSTAPPEN Raikkonen, without water during the race after Ferrari forgot to connect the bottle, made two stops and agreed third – his fifth successive podium finish – was the best he could have hoped for in the circumstances. "We caught up with Bottas after the first stop but there was no chance to overtake. So our option was to stop again and try again.

Mercedes-AMG GT3 thunders into Geneva debut [w/video]

Mercedes-Benz took the opportunity to debut its replacement for the SLS AMG GT3 at the 2015 Geneva Motor Show today, showing off the new AMG GT3. Unlike the road car on which it's based, Mercedes ditched the turbocharged V8 for its awesome 6.3-liter V8, which also powered the GT3's predecessor. That's far from the only change found for the racing variant of the new model, however. Mercedes conducted a serious overhaul of the car's aerodynamics, fitting a huge rear wing and an equally enormous front splitter. The front bumper is also home to a quartet of winglets, which add even more downforce to the front end. As we suspected in our original post on the GT3, the rear of the car has been fitted with a none-too-subtle rear diffuser. The cooling needs of the track have also been enhanced, courtesy of large ducts on the fenders and a deep vent in the hood, while meaty slats sit over the front wheel wells. In addition to the rear diffuser, large ducts have been fitted to both sides of the rear bumper. The AMG GT3 looks like a compelling offer in the world of customer racers, although we won't know that for certain until it hits the track for some competition. That should be later this year at the earliest, as Mercedes is targeting late 2015 for the first customer deliveries. Check out our live gallery of images of the new AMG GT3, direct from the floor of the 2015 Geneva Motor Show. World premiere in Geneva for spectacular AMG racing car All-out attack : the new Mercedes-AMG GT3 Affalterbach. Mercedes-AMG will ring in the 2015 motorsport season at the beginning of March with the sonorous sound of the V8 engine: the new Mercedes-AMG GT3, with which the Mercedes-Benz sports car and high-performance brand is systematically expanding its motorsports presence, will be making its debut appearance at the Geneva Motor Show. Developed to comply with the FIA's GT3 race rules, the racing car will compete in the world's most hotly contested customer race series. Cutting-edge racing technology and spectacular design predestine the new challenger for victories. The new GT3 is based on the Mercedes-AMG GT, which is being launched in just a few days' time. Following an intensive test phase, the new AMG racing car will be shipped to the first customer teams at the end of 2015. The Mercedes-AMG GT3 will blaze new trails in customer sports with its intelligent vehicle concept.

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.