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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.

Honda favoring turbo over hybrid for US-market Vezel

While Honda gears up to unveil the new Fit to the US market at the Detroit Auto Show next month, back in its home market, the car's crossover cousin is just going on sale. The Vezel was unveiled at the Tokyo Motor Show last month and already has a three-month waiting list in Japan, where Honda projects that 90 percent of customers will opt for the hybrid version. Not so in the United States, however.
When the Vezel reaches American showrooms, there'll be a number of key differences. For starters, it will carry a different name, though Honda isn't saying what that will be. For another, it will be built for North American consumption at Honda's new plant in Mexico, roughly half of whose production capacity is reportedly being allocated to the new crossover. And finally, it'll have a different engine.
In Japan the Vezel is being offered with a 1.5-liter four-cylinder engine, with or without electric assist. Honda won't offer the hybrid version here - at least not initially - but it is preparing to offer a turbo option. Although it has yet to announce US specifications and options, the 1.5-liter turbo four (also unveiled at the Tokyo show) is considered a stronger likelihood than the 1.0- or 2.0-liter versions.

2021 Acura TLX to start at $38,525, hits dealers this fall

The 2021 Acura TLX will start at $38,525 (including a $1,025 destination fee) when it arrives in dealerships this fall. The flagship Type S model, which will be powered by a twin-turbocharged V6, will not arrive until spring, and while Acura has not yet finalized pricing, we're told it will start above the $50,000 mark.  The $38,525 base price of the 2021 TLX makes it $4,500 more dear than the model it replaces, but competitive with most of its luxury peers, largely thanks to its far more potent base engine. In fact, the 272-horsepower 2.0-liter turbo mill in the 2021 model in only down 18 horsepower from the V6 offered as the upgraded engine in the 2020. The new also TLX gets an updated platform that brings back its traditional double-wishbone front suspension, introduces a new turbocharged four-cylinder engine, and marks the return of the sporty Type S to the model lineup. To further make up for the rather large price increase, Acura has seen to it that the TLX is more feature-rich pretty much across the board. For example, base models now get a 10-speaker audio system with twin subwoofers and 12-way powered front seats. All models also come standard with Android Auto and Apple CarPlay integration for 2021. We'll come back to the Type-S momentarily; first, here's a breakdown of 2021 TLX pricing with destination included: 2021 TLX 2.0T — $38,525 2021 TLX 2.0T with Technology Package — $42,525 2021 TLX 2.0T with A-Spec Package —  $45,275 2021 TLX 2.0T with Advance Package — $47,325 A-Spec models are focused on sporty appearance and handling add-ons, while the Technology package is geared more toward those who want more convenience features. The Advance trim effectively blends them together and adds more premium features, such as Milano leather seating surfaces, heated seats and a heated steering wheel. Acura's Super Handling All-Wheel Drive system (SH-AWD) is available across the lineup for $2,000.  As for the 355-horsepower Type S model, Acura says it won't appear in showrooms until spring 2021, and while pricing has yet to be finalized, Acura says it will cost more than $50,000. That tracks, considering the Advance Package with SH-AWD is already a $49,325 car. Related Video: 2021 Acura TLX unveiling