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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.

Acura NSX and David Lee Roth wail together in Super Bowl spot

Super Bowl 50 is just over a week away, but carmakers are already rolling out their big ads. Acura's newly released commercial uses the screams and moans from Van Halen's David Lee Roth and the song Runnin' with the Devil to build excitement about the upcoming supercar. As Van Halen plays, the NSX evolves from a slab of metal into the turbocharged, hybrid coupe. In a patriotic touch, the commercial uses red, white, and blue to subtly communicate the supercar's US development and production. It's a clever ad, sure, but we wish it showed more of the new NSX's high-performance capability. There's never a bad time to listen to some Van Halen, though. The video above is the 30-second Super Bowl commercial, which airs during the first quarter. However, the clip below is a one-minute version that lets the visuals breathe more. The longer cut is the better one, but Acura's choice is understandable given the expense of Super Bowl ad time. Acura Rolls Out American-made NSX Supercar with Super Bowl Commercial Set to Van Halen Classic, Runnin' with the Devil Jan 29, 2016 - TORRANCE, Calif. Iconic Van Halen song infuses high-voltage energy into NSX rollout Comprehensive activation includes social media sweepstakes, enabling consumers to experience the NSX Acura is one of the first brands to use Twitter Conversational Video to launch Super Bowl spot Acura is showcasing the next generation NSX, the only supercar made in America1, to the soundtrack of an iconic American rock song in a new commercial that will debut during Super Bowl 50. The high-energy vocal effects of the Van Halen classic Runnin' with the Devil provide the powerful beat for the Acura commercial that will appear during the first quarter of the big game. The spot is a showcase of the Precision Crafted Performance brand direction that is core to the Acura brand and vividly represented in the NSX supercar. The new Acura Super Bowl commercial is posted to Acura.com and Acura social media channels for previewing before the big game and is augmented with a series of unique social media activations and live experiences, including one of the first applications of Twitter Conversational Video to launch a Super Bowl spot. "In our Acura commercial, we wanted to convey the excitement of the NSX to a big Super Bowl audience," said Jon Ikeda, vice president and general manager of Acura.

Honda HR-V Prototype looks awfully familiar

Is there anything quite so exciting as seeing a brand-new vehicle for the very first time? Part of the allure of auto shows is the chance to see new ideas, just before they're fully baked and ready for public consumption. "Prototypes" you might say, of production models that are just around the corner. Or, in the case of the Honda HR-V, already down the block a ways.
Here in Paris, Honda has unveiled its HR-V Prototype, a nearly production-ready version of a "new SUV for Europe." Before we take umbrage with that SUV designation - as far as we can tell the Fit-based crossover isn't much of a mudder - we should address the fact that at this year's New York Auto Show in April, Honda handed over just a few images and specs of the actually production-read HR-V for the US. Presumably this is a "prototype" for Europe, where the NYC car is US-specific, but we're still scratching our heads a bit.
No matter! Here in France, Honda tells us that the utile little hatch will be available powered by both a 1.5-liter gasoline engine (the one American customers will see), and a 1.6-liter diesel unit, both wearing the company's Earth Dreams Technology label and presumably running cleaner and more frugally than ever. In Europe, a standard six-speed manual will come with both mills, while the 1.5-liter will offer the option of a continuously variable transmission.