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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.

Volkswagen Group, BMW Z4 top Total Value Awards by Strategic Vision

It was just nine months ago that Strategic Vision announced its 2011 Total Value Awards, but you don't have to wait until next year for the 2012 awards. The Volkswagen Group keeps its lead as the number one brand, with seven products taking top category spots: Golf, Jetta Wagon, CC, Eos and Audi A3 Wagon, Q5 and Q7. Strategic Vision says "true innovation" - "rich and impactful, intuitive, motivational, in-depth and is able to trigger description by the user in great specificity" - is the open secret of the brands with the strongest showings. Results are culled from 77,153 owners covering more than 350 new cars bought between September of 2011 and 2012 ranked in the Total Value Index (TVI).
Other notable winners are Hyundai-Kia following VW in the brand category and having the Hyundai Elantra and Kia Sorento among category winners, the BMW Z4 taking the premium roadster category and the highest overall score of any vehicle, the Chevrolet Volt continuing to gather silverware in the Special Category, nabbing the second-highest score of all and representative of "nearly perfect innovation," and Chrysler and Dodge being most improved.
Check out the press release below for your day's dose of jargon and all the winners.

Kia's Super Bowl ad parks the Optima in a Walken closet

Kia has a weird marketing strategy to sell the Optima in its Super Bowl commercial titled Walken Closet. The humorous spot stars actor Christopher Walken who appears to live in a closet, and he describes the South Korean brand's midsize sedan as "as the world's most exciting pair of socks." Walken is famous for his unique voice, and he enunciates Kia Optima in this ad like no one else can. The ad markets the Optima as the midsize sedan for customers who want something more exciting from the segment. According to Walken, other vehicles are like beige socks, but the Kia has "pizzazz." Comparing a vehicle to a pair of socks still doesn't get the heart racing, though. You can watch a 90-second version of Walken Closet above. Kia will premiere the 60-second cut during the four quarter of the Super Bowl. CHRISTOPHER WALKEN ADDS "PIZZAZZ" TO KIA MOTORS' SUPER BOWL COMMERCIAL FOR THE ALL-NEW OPTIMA MIDSIZE SEDAN Kia is the First Brand to Utilize a New Technology Solution from Influential That Taps IBM Watson for Influencer Identification as Part of Multifaceted Marketing Campaign Extended cut of "Walken Closet" can be viewed now at YouTube.com/Kia; 60-second broadcast version will debut during the fourth quarter of Super Bowl 50 #AddPizzazz social media campaign includes partnerships with Mobile First influencer platform Influential, social media creator network Niche, and lifestyle apparel brand Stance, to engage creators and generate content across a variety of channels IRVINE, Calif., February 2, 2016 – There's no one quite like Christopher Walken – he is an original. And in Kia Motors America's (KMA) 2016 Super Bowl commercial, the Academy Award-winner employs a colorfully stylish sock to demonstrate how the next generation Optima stands out in the midsize sedan segment filled with entries that look and drive the same. Premiering today on YouTube.com/Kia – and set to air in the fourth quarter of the big game – "Walken Closet" is the centerpiece of Kia's multiplatform campaign spotlighting the all-new 2016 Optima as the vibrant alternative for those searching for more in a vehicle segment whose hallmarks are basic, boring and uninspired. As Walken explains in the spot, "There are two kinds of people in this world. Those who are content to blend in ... then there are those who expect more. They're exciting.