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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.

Audi reveals R8 E-Tron Piloted Driving concept at CES Asia

Designed as they are to take the driver out of the equation, you might think that the idea of an autonomous vehicle would seem diametrically opposed to that of a supercar. But Audi disagrees. The German automaker has cooked up a series of "piloted driving" concepts that are increasingly focused on performance, and this could be the ultimate iteration yet. Audi's latest Piloted Driving demonstrator is based on the R8 E-Tron. It's altogether almost identical to the one we saw in Geneva, packing an electric powertrain to deliver 456 horsepower, 679 pound-feet of torque and a 0-62 time of 3.9 seconds. Only in this case, it can do it all on its own, without any driver intervention. To pull that off, Ingolstadt has fitted this show car with an array of sensors, including a new laser scanner, multiple video cameras, ultrasonic sensors and radar transmitters at both ends – all handled by a central "driver assistance control unit." It's the latest in a series of concept cars that has already included a version of the RS7 Sportback designed to lap the racetrack, and the Prologue concept that drove itself to CES. This concept was similarly unveiled at CES Asia, the Eastern counterpart to the tech expo we usually catch in Las Vegas. Just what the point is in engineering (or buying) one of the best-driving cars on the market and then handing over its operation to a computer, we don't quite get. But at least we can rest easy knowing that Audi is not giving up on performance as autonomous tech turns the driver into just another passenger. Related Video: Audi R8 e-tron piloted driving technical concept car 340 kW of power, 0 to 100 km/h (62.1 mph) in 3.9 seconds and a driving range of 450 km (279.6 mi) – Audi has extensively developed its all-electrically powered high-performance R8 e-tron sports car further. The technology study is one of the highlights of CES Asia, and it brings together future technologies – which relate to lightweight design, high-performance drive systems and functions for piloted driving. The Audi R8 e-tron piloted driving concept car is based on the multimaterial Space Frame of the new production R8. A rear car body module made of carbon fiber reinforced polymer (CFRP) integrates the luggage compartment, which extends the frame structure. The walls of the luggage compartment shell are corrugated, so that they can absorb extreme amounts of energy with little material weight in case of a rear-end collision.

Sunday Drive: Taking a gaze into the automotive crystal ball

Mankind has long been fascinated by the future. So it makes sense that this past week's top stories were all about cars, trucks, and SUVs that won't be hitting the market until the 2019 model year. And right at the top of the list is the Ram 1500. We've come to know Ram as the truck maker that styles its pickups with cues cribbed from big rigs, but that look has slowly evolved over time into something uniquely its own. The next Ram 1500 continues this trend, with a newly refined look that we can't wait to see in person. Up next is the 2019 Chevy Silverado. Pickup trucks have been, continue to be, and will remain the best-selling vehicles in America. And General Motors is a leader in the field, with two distinct offerings with which to entice buyers, one from the bread-and-butter Chevrolet brand and one wearing the slightly more upscale GMC badge. The Chevy looks to get LED lighting elements for 2019, which ought to keep the truck from looking dated when compared to the Ford F-150 and the previously mentioned Ram 1500. From there we move past pickup trucks and into SUVs and sedans. The 2019 Jeep Cherokee looks to get toned down a bit with its next refresh, and the '19 BMW 3 Series continues its slow evolutionary journey at the top of its aspirational sales pedestal. Finally, spy shots give way to official production reveals for the 2019 Audi A7 and Polestar 1. This pair of European luxury cars won't compete with one another – one is a rakish hatchback and the other a sports coupe – any further than for the eyeballs of our readers, but both proved popular enough to merit inclusion in our weekly roundup. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2019 Ram 1500 spotted without the classic crosshairs 2019 Chevy Silverado spied with new LED accents 2019 Jeep Cherokee reveals a much more normal face 2019 BMW 3 Series spy shots reveal production lights, new interior details 2019 Audi A7 revealed: More torque, refined styling Polestar 1 First Look | The 600 horsepower hybrid Scandinavian Green Audi BMW Chevrolet Jeep RAM Volvo Truck Hatchback SUV Future Vehicles Hybrid Luxury Performance Sedan sunday drive polestar 1