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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.

Minnesota tinkerer selling off 500-plus motorcycles, dirt bikes and scooters

For 25 years, Tony Joslyn's entire life has orbited around motorcycles. After getting into bikes at an early age, Joslyn turned his passion into Road Rash, a salvage house where Joslyn would buy and sell two-wheelers and their parts. He wasn't picky with his workings, either, as he has accrued motorcycles across a huge range of decades and brands. And now it's all up for sale.  Suzukis, Yamahas, Harley-Davidsons, Hondas, Kawasakis, and more from the '60s, '70s, '60s, '90s, and '00s are all currently listed on K-Bid.com. There is a variety of size, styles, colors and setups, and a press release says most of the bikes are 'complete and ready for restoration or a tuneup." For Joslyn, the collection just became too much to deal with after all these years.  "It's time to clear the herd and slow down," Joslyn said in a release. "Once it starts to feel like a job, you lose some of the joy. I'm looking forward to getting back to working a few motorcycles now and then. ... It's hard to pick a favorite out of the collection, as I am partial to all of them, but I've always enjoyed the Kawasaki 3-cylinders." The bikes are located in Clarks Grove, Minnesota, directly south of Minneapolis roughly near the Iowa border. Interested parties can visit and inspect the bikes before purchasing, and there's plenty of time to do so. Open now, the auction will close October 2, 2019.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auto News Honda Suzuki Auctions Motorcycle honda scooter Harley-Davidson Yamaha Kawasaki

Petition to bring Honda Civic Type R to US picking up steam

Never mind what the executives say - we've had a sneaking suspicion all along that the upcoming Honda Civic Type R won't be coming to North America. And with good reason: both the prototype we drove in Japan and the concept unveiled at the Geneva Motor Show last week were based on the European-spec Civic hatchback - not to mention that some of the best hot hatches remain out of our reach.
Well it turns out we're not the only ones with that concern. There are legions of Honda hot hatch enthusiasts right here in the good old U S of A who want to see the new Civic Type R ripping up the Great American Road. And many of them are taking to the cyberclouds demanding that Honda bring it Stateside, post haste.
As of the time of writing, this online petition has gotten over 6,000 digital signatures, needing less than 1,500 more to get to the author's target of 7,500 votes. Of course, if and when the petition reaches its target, that still won't mean that Honda will bring it over, but it could mean that extra bit of encouragement the Japanese automaker's executives would need to tip the scales in our favor.