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2015 Honda Fit set for Detroit reveal

We've got one more debut confirmed for next month's Detroit Auto Show, as Honda has announced that it will be showing off the 2015 Fit in the Motor City. Honda has released a singular image of the new Fit's rear taillight, above.
From the sole image, we can see that the American-spec Fit will share at least its taillights with the Japanese variant, which we've helpfully included an image of to the right. Now, technically, the blue car to the right is the Fit Hybrid, a car we aren't expecting to see in the US market. But the gallery of images we've included below should give those interested in the car a very good idea of what the new Fit will look like when it hits the auto show stage next month.
As for what will be under hood when it debuts in January, Honda is touting its Earth Dreams Technology engine, which we take to mean some sort of four-cylinder, gas-powered mill. Expect excellent fuel economy from the new car, and according to the Japanese brand, "leading-edge connected car technologies."

Next Honda Civic to get 1.5L turbo

The low-displacement, turbocharged engine is all the rage these days throughout the auto industry, whether considering the 1.0-liter, three-cylinder EcoBoost from Ford or even Ferrari opting for a downsized turbo V8 in the latest 488 GTB. It looks like Honda might be the next one to follow this trend, and it could happen as soon as the next-gen Civic. "Downsized turbocharging will be the base, even for the Civic," Honda Research and Development boss Yoshiharu Yamamoto said to Automotive News. That included the US, he indicated. "Quite a bit will switch over to turbo, but there will still be some naturally aspirated ones remaining." The engine reportedly is a turbocharged 1.5-liter four-cylinder that offers better fuel economy, lower emissions and the power of a naturally aspirated mill of between 2.0- and 2.4-liters, according to AN. Since the current Civic gets 143 horsepower from its 1.8-liter four that suggests a healthy power bump for the future model. Making the news even more tantalizing, the new Civic with the 1.5-liter turbo could be revealed before the end of the year, according to Automotive News. Honda already confirmed a $340 million investment into its Anna, Ohio, plant to build the engines later this year. Honda first mentioned a 1.5-liter turbocharged four-cylinder in 2013 along with the 2.0-liter turbo now in the Civic Type R in Europe. At the time, the brand said these engines would appear in "a number of future global models." The HR-V in the US was also previously rumored to use the same powerplant.

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.