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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.

Brabus boosts big Benz plug-in hybrid

With vehicles like the BMW i8 and Porsche 918 Spyder, the Germans have demonstrated as well as anyone that "performance" and "hybrid" can go in the same sentence. And now Brabus is plugging in to the performance hybrid station as well. Though nowhere near as extreme as the aforementioned PHEV sports cars, the Brabus PowerXtra B50 Hybrid performance kit kicks the Mercedes S550 Plug-In Hybrid up a notch. The electric side of the powertrain remains untouched, but the internal combustion engine has been boosted by 51 horsepower and 52 pound-feet of torque. That gives the 3.0-liter turbocharged V6 a total of 385 hp and 405 lb-ft, which is nothing to cough at – but with the electric boost kicking in, the vehicle now packs a combined output of 493 hp and 656 lb-ft. That slots its twist figure in between that of the S600 and S63 AMG. As a result, the big Brabus hybrid will now reach 62 miles per hour from a standstill in just 4.9 seconds (down from 5.2) – almost as quick as the 12-cylinder model but with half the pistons – though the top speed remains pegged at 155 mph. Naturally, Brabus didn't stop there, giving the sedan a new exhaust, aero kit, rolling stock and interior, all catered to the customer's specifications. BRABUS PowerXtra B50 Hybrid with 368 kW / 500 hp (493 bhp) and 890 Nm of torque The eco-friendly performance upgrade for the new Mercedes S 500 PLUG-IN HYBRID For more than 35 years, BRABUS has been the synonym for powerful high-performance automobiles and exclusive refinement at the highest level of perfection. One philosophy has always been paramount in all these years: combining top performance with exemplary eco-friendliness, immaculate durability and perfect everyday practicality. With the new BRABUS PowerXtra B50 Hybrid performance kit for the new Mercedes S 500 PLUG-IN HYBRID, the engine specialists of the world's largest independent tuner once more demonstrate their unrivalled know-how. The power increase of the V6 engine by 38 kW / 52 hp (51 bhp) and the boost in torque by 70 Nm (52 lb-ft) bumps the system output of the hybrid sedan to 368 kW / 500 hp (493 bhp) and system torque to 890 Nm (656 lb-ft). As a result, the luxury liner sprints from rest to 100 km/h (62 mph) in just 4.9 seconds, and impresses in daily driving with even further enhanced superiority. Due to the hybrid system, the top speed remains electronically limited to 250 km/h (155 mph).

Recharge Wrap-up: BMW i3 goes against Mercedes B-Class ED, Tesla good for business

Car and Driver has published a comparison test pitting the 2014 BMW i3 against the 2014 Mercedes-Benz B-class Electric Drive. The test not only measured the quality of the driving experience, but also all the quantitative details that are especially important when looking at electric vehicles. For instance, the Benz's real-world MPGe surpassed its own rating, but it still couldn't match the BMW. The B-Class, though, won in the range department. We won't spoil all the results, or Car and Driver's overall pick, but you can head over to the article to find out for yourself. Tesla's expanding business, including the Gigafactory being built in Reno, NV, is encouraging growth in the locales and associated businesses. Some of Tesla's suppliers are talking of relocation, wanting to be close to the action stirred up by the electric automaker's expansion. It makes good business sense to be in the same neighborhood as Tesla. "We can react quickly, and our engineers are constantly working with Tesla," says Futuris General Manager Sam Coughlin. Brookings Institute fellow Jennifer Vey says, "The land around Tesla is being redeveloped and reimagined. It's a mash-up of an anchor campus, startups, housing and transit, in a physically compact area where companies can cluster and connect." Read more at San Jose Mercury News. EVs are doing even more to reduce energy use clean up the air, according to new analysis from the Union of Concerned Scientists. According to findings, 60 percent of Americans now live in areas where EVs do more to reduce emissions than hybrids, up from 45 percent in 2012. Average electricity use is now 0.325 kWh per mile, down five percent from 2011. EV performance - in terms of mileage and emissions - is improving compared to traditional fuel vehicles, based on the sources of electricity in various regions. Read more from the Union of Concerned Scientists. Zipcar's carsharing network has launched in Paris. Zipcar is expanding across Europe, and has already established itself in Austria, Spain and the UK. According to Zipcar France's General Manager Etienne Hermite, "In a highly populated city, Zipcar's model has been proven to remove up to 15 personally owned vehicles from the road for each Zipcar in service, reducing parking demand, congestion and emissions." Zipcar European President Massimo Marsili hopes that most Parisians will eventually be just a short walk from a Zipcar.