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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.

Mercedes teases IAA Concept for Frankfurt

Mercedes-Benz is being coy about the IAA Concept you see above. The Germany automaker admits its name is short for Intelligent Aerodynamic Automobile, but isn't letting out much more. In a very short statement, Mercedes describes the IAA as "two cars in one: an aerodynamics world champion and a four-door coupe embodying irresistible design." Does that mean the IAA points the way forward for the next version of the brand's shapely CLS, which it also refers to as a four-door coupe? Probably, but we're not sure where the "Intelligent" part comes in. Will it be an electric machine that presages a competitor to the Tesla Model S? We'll just have to wait and see. One thing is for certain: The Mercedes IAA looks sleek. While the details of its design are shrouded in strategically placed shadows, we can clearly see a double-bubble roofline that flows seamlessly into a graceful hatch that reminds us of the Audi A7, which isn't a bad design to borrow cues from. The overall shape of the Intelligent Aerodynamic Automobile makes it look like bodywork shrink-wrapped atop the chassis as tightly as possible. We're keen to take a look at the IAA ourselves, and that's going to happen rather soon. Mercedes promises a debut at the Frankfurt Motor Show in the early afternoon (Eastern). Stay tuned. The Mercedes-Benz "Concept IAA" (Intelligent Aerodynamic Automobile) is two cars in one: an aerodynamics world champion and a four-door coupe embodying irresistible design. World premiere. September 14, 7.30 pm (CEST). Featured Gallery Mercedes IAA Concept teasers News Source: Mercedes-Benz via Facebook Design/Style Frankfurt Motor Show Mercedes-Benz Coupe Concept Cars Sedan

New Mercedes-Maybach concept set to debut at 2018 Beijing Motor Show

Mercedes-Maybach builds some of the most kitted out and opulent production cars in the world. Think of the Maybach S 560 and S 650 as a Mercedes S-Class taken to the next level of luxury. Today, Mercedes-Maybach revealed a new teaser for what looks like a concept for a new EV. The car is set to debut in just a few weeks at the 2018 Beijing Motor Show. This might be the Maybach SUV we reported on a few weeks back. It's difficult to make out too many details, but it definitely looks different than the Vision Mercedes-Maybach 6 that we've seen floating around for the past couple of years. A close-up shot of the steering wheel shows the soft blue glow that Mercedes has put on the EQ-branded concept cars. Other images show clean white leather, rose gold trim and a pair of seats flanking a flower-encrusted panel. All the shots appear to be of the concept's interior, so we can't say for sure that this is the rumored Maybach SUV. Either way, it's sure to be just as luxurious and formidable as anything the automaker currently has on the road. We're hoping they come up with another G-Class Landaulet. Related Video: News Source: Facebook: Mercedes-Benz Design/Style Green Beijing Motor Show Maybach Mercedes-Benz SUV Concept Cars Electric Luxury Videos mercedes-maybach