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Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.

Renault Scenic EV takes first place as (European) Car of the Year

The automobile awards season may not be over, but two of the more prestigious annual races came closer to a climax this week. One might need a scorecard to keep track. We’re focused here on two events: the World Car of 2024, now reduced to three finalists in six categories. Then thereÂ’s the Car of the Year, known in some quarters as the European Car of the Year. Except that the car doesnÂ’t have to be European to win, only sold there. Got that? Winners out of the way first: At the Geneva Motor Show on Monday, the Renault Scenic E-Tech all-electric has been voted Car of the Year 2024. The Scenic is a fairly compact, somewhat stylish SUV for Europe only, and is the seventh vehicle from the French brand to win the award. It sells in the United Kingdom for about $47,500. The other six finalists that had made the first cut of voting in November were the BMW 5 Series, BYD Seal, Kia EV9, Peugeot E-3008/3008, Toyota C-HR, and Volvo EX30. The trophy winner was chosen by a jury of 59 motoring journalists from 22 countries. Scenic came in first place with 329 points. The Seal was the first Chinese-made car to make this awardÂ’s shortlist; it finished sixth out of seven, just up from the Toyota. One judge explained his decision to grant the Seal zero votes. Writing in Top Gear, Paul Horrell wrote this entertaining critique: “It looks good and is well specified, so makes a strong market entry. The advanced electric system and cobalt-free battery are commendable too, and it's enjoyable enough to drive quickly. That's undermined by an agitated ride over bumps, and the logic of screens and switches is pretty eccentric.” Recapping the World Car of the Year 2024 update, the sponsors shared the stage at Geneva on Monday with the Europeans as well, although they revealed only the top three finalists in six categories. For the ultimate prize, they are the Kia EV9, the Volvo EX30 and the BYD Seal. The winners will be announced March 27 at the New York International Auto Show. Here's more on the World Car finalists. By the Numbers Geneva Motor Show New York Auto Show BMW Kia Toyota Volvo Peugeot Renault Green Automakers Best Cars

Volkswagen could outsell GM in China for the first time in nine years

As of the end of November, Volkswagen had sold 70,000 more cars than General Motors in China in 2013, making it appear inevitable that VW will outsell GM there. The feat would return the German brand to the top of chart in China for the first time in nine years, but even the second-place getter won't be complaining too loudly: both automakers sold more than three million vehicles in a market pegged to hit 16 million sales this year.
Volkswagen said it could have sold more cars if it had had more production capacity in China. The arrival of a new-to-China Audi A4, a China-built A3 sedan, the VW Bora and Skoda Octavia, as well as an $18.2-billion-euro investment in the country to construct new factories, means VW should see its numbers grow in 2014. GM's lineup is expanding next year, too, adding four Chevrolet nameplates and two vehicles to its Baojun brand as it tries to get to five million in sales by 2015.
Among other automakers, Ford benefited from good product and woes for Japanese automakers over a territorial dispute with China, outselling Toyota by almost 32,000 units through the end of November. The Ford Focus is China's best-selling vehicle so far this year.