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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.

MTM Audi RS6 Clubsport might be overkill for grocery shopping

As automotive journalists, we're biologically wired to love station wagons. We really don't have a choice. And while we prefer brown, diesel-powered, manual-transmissioned long-roofs, we suppose a 750-horsepower Audi RS6 Avant would be just dandy. This is the MTM RS6 Clubsport, and as we mentioned, it's very powerful. That's thanks to a modified version of Audi's critically acclaimed 4.0-liter, twin-turbocharged V8. While 750 hp out of just 4.0 liters is impressive, 697 pound-feet of torque is an equally big accomplishment. And if that's not enough, MTM has managed to shave nearly 200 pounds of body fat from the big wagon. Needless to say, it's very, very fast. MTM has displayed a degree of aesthetic restraint, eschewing the gaudy body kit favored by some other tuners and simply opting for a questionable paint job. The 21-inch wheels look good, although with the smattering of rubber around them, we wouldn't bet on a comfortable ride. As for the cabin, well, MTM got a bit out of hand. It's very, very orange. The seats are essentially carbon-fiber shells lined with bits of orange, leather-wrapped padding here and there. Orange, quilted-leather in the door panels, center armrest and on cushions on the side of the center console – a nice touch we wish more automakers would add to their performance cars – contrasts nicely with the black plastics and carbon fiber found on the rest of the dash and center console. That said, we aren't crazy about space for passengers, thanks to the large cage that's there to boost structural stiffness. We have a full gallery of photos of the MTM RS6 Clubsport direct from Geneva. Trust us, you'll want to have a look at this one. Related Video:

2015 Audi R8 Competition ready to rock LA

The heyday of the first-generation Audi R8 is winding down, and the Four Rings already has a bespoke factory to start building the next model soon. In the meantime, the German brand is sending its supercar off with a bang at the 2014 Los Angeles Auto Show in the form of this limited-edition 2015 R8 Competition - the most powerful production vehicle ever made by the company.
Audi is earmarking just 60 examples of the Competition for the US, and this is more than just a trim package to say farewell. Power for the supercar comes from the usual 5.2-liter V10 that's massaged to develop 570 horsepower, an extra 20 hp over the already quite potent V10 Plus, and the only available transmission is the seven-speed, dual clutch S Tronic gearbox. The tweaks let this limited R8 rocket to 60 miles per hour in 3.2 seconds and achieve a maximum velocity of 199 mph. To haul that speed to a stop, it also gets ceramic brake disks with red calipers.
Of course, having such a rare supercar means showing off a little. Audi takes inspiration from the R8 LMS Ultra racecar for the Competition and tries to bring some of its details to the street. The model wears matte carbon fiber pieces replacing the rear spoiler, mirror housings, side blades, front spoiler and rear diffuser. For an extra mean-looking touch, it also has high-gloss black paint covering the wheels and exhaust pipes.