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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.

Tom Kristensen walks through a perfect lap of Le Mans in Forza 5

One of the best ways of learning a new track, aside from driving it, is to hear someone that's intimately familiar with it give you a good walkthrough. That's just what you'll get here, as the winningest driver in 24 Hours of Le Mans history, Tom Kristensen, walks you through the Circuit de la Sarthe's high-speed, 8.5-mile strip of pavement.
Kristensen is dubbed over scenes of drivers from a Forza Motorsport 5 contest lapping the track at the wheel of an Audi R18 E-Tron Quattro, adding a bit of visual sense to the Danish drivers description of the track.
With the 2014 24 Hours of Le Mans kicking off this weekend, this is just the sort of video you'll want to watch to get you in the mood. Take a look below, and then let us know what you think in Comments.

Audi 3D-printed this tiny Type C racer, we want to drive it

See this little guy? No, not the one driving – that's Professor Hubert Waltl, Audi's head of production and Volkswagen's chief toolmaker. The thing he's driving, though, is a 1:2 scale replica of the 1936 Auto Union Type C. And it was 3D-printed entirely in house. Not in one piece, mind you. It's too big for that. But the Audi Toolmaking division employed metal printing technology to fabricate all the parts that went into this replica of one of the most dominant of the Silver Arrow grand prix racers of the pre-war era. It's essentially like the pedal car Audi rolled out nine years ago, or the E-Tron concept it showed us nearly five years ago. Only this one uses more advanced manufacturing techniques. Aside from making us want to drive it like nobody's business, the half-sized vehicle serves to showcase the advancements which Audi and the VW Group are making in manufacturing – particularly in the area of 3D printing. The German automaker presently has the technology to print laser-melted layers of metallic powder – either steel or aluminum – with grains measuring half the diameter of a human hair. The equipment can handle objects as large as 7.9 inches high by 9.5 inches wide – which, as small as this little car looks, is still a bit too large to simply print out in one piece. Audi Toolmaking prints "Auto Union Typ C" - Exact model of the "Silver Arrow" from a 3D printer - Audi Board of Management Member for Production Prof. Dr. Hubert Waltl: "This underscores our pioneering role in toolmaking." From powder to a component: With a 3D printer, Audi Toolmaking has produced a model of the historical Grand Prix sports car "Auto Union Typ C" from the year 1936. The company is now examining further possible applications of metal printers for the production of complex components. At the same time, Audi is creating important synergies with toolmaking in other parts of the Volkswagen Group. "We are pushing forward with new manufacturing technologies at Audi Toolmaking and at the Volkswagen Group," stated Prof. Dr. Hubert Waltl, Audi's Board of Management Member for Production and Head of Toolmaking at the Volkswagen Group. "Together with partners in the area of research, we are constantly exploring the boundaries of new processes. One of our goals is to apply metal printers in series production." The Volkswagen Group has a total of 14 toolmaking units in nine countries. Under the leadership of Prof. Dr.