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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.

Daimler eMERGE2 test proves ignorance breeds dislike of EVs

Out with the old EVs, in with the new. Daimler announced today that it has finished up the eMERGE electric vehicle project that used Smart Fortwo Electric Drive cars and will now start up eMERGE2, which will use Mercedes-Benz B-Class Electric Drive and PHEV vehicles. As before, the tests will take place in Germany. The first, just-finished eMERGE program ran from May 2013 to June 2015 and put over a million kilometers (621,000 miles) onto 146 Smart Fortwo EDs. Daimler said that over the two years, the vehicle with the most efficient annual energy consumption used just 10.4 kWh for all of its 100 kilometers. The best full-charge range over the year was 161 kilometers (100 miles). Perhaps most interesting, though, was one of the projects findings: "the less an interviewee knew about electric mobility, the more negative their opinion" about the technology. In other words, here's some more proof that getting "butts in seats," as it were, is one reasonable way to promote electric driving. eMERGE: key contribution to developing the mobility of the future Stuttgart/Berlin, Jul 30, 2015 Broad-based real-world trial of eMERGE project completed Especially for daily distances of 50 km or over the E-car is financially attractive eMERGE2 fleet project now launching with 200 Mercedes-Benz B-Class Electric Drive and plug-in hybrid models Stuttgart/Berlin – After more than one million kilometres in two years – from May 2013 to June 2015 – the real-world trial of electric cars known as eMERGE has been completed. Those taking part in the project were private and business customers with 146 smart fortwo electric drive cars from Berlin, Potsdam and North Rhine-Westphalia. Some of them set records: the lowest average energy consumption over one year was 10.4 kWh/100 km, while the longest range was 161 kilometres. The smart fortwo electric drive is certified with a consumption of 16.3 kWh/100 km and a range of 145 kilometres. The broad-based field trial within the framework of the eMERGE project has not only provided information on user behaviour and e-car technology; it also studied intelligent charging systems for improving the utilisation of the power supply as well as various pricing systems with regard to customer acceptance. Based on transport models, the project partners examined the need for a publicly available charging infrastructure. Within the project Daimler was responsible for collecting the driving and charging data required for evaluation of the field trial.

Buy a V8 Mercedes-Maybach, or splurge for a V12? Oh to have such problems

There's a certain air that surrounds the Maybach badge, and it's not just the scent being pumped out by the ionizer in the car's glovebox. It's the cream of the crop when it comes to German luxury. These cars are filled with an acre's worth of wood and a herd's worth of cows, ensuring your fingers rarely touch materials as pedestrian as plastic. It's as quiet, as smooth, and as imposing as you think it would be. Though the latest model from Mercedes-Maybach, the S550, might have swapped in a V8 and all-wheel drive in place of the V12 at the heart of the S600, no other amenities have been lost in translation. The car's size gives it a certain presence. Staring at the profile shows a wheelbase that spans two counties, necessitating a microphone and speaker setup simply so that the driver can converse with the passenger – and a Maybach will almost always have a passenger. No one buys a Maybach to drive. You buy a Maybach to be driven. No means of transport short of business-class airline seating offers this much space. Sit back, recline the seat, roll up the shades and enjoy your $167,125 cocoon. But you know all of that already. What you really want to know is if $25,000 - the V12-powered S600 starts at $192,225 - is worth it to gain an extra four cylinders, 74 horsepower, and 96 lb-ft of torque. On paper, no, it's not. The two cars have identical performance numbers, and the S550 benefits from Mercedes' 4Matic all-wheel-drive system. Even with all-wheel drive, the S550 weighs less than the nose-heavy S600. Fuel economy is, as expected, superior in the S550. It's rated at 16 city, 24 highway and 19 combined as opposed to 13 city, 21 highway, and 16 combined. Visually, the two cars are identical save for a few badges. The V12 badge on the S600 is replaced with a 4Matic badge on the S550, and that's where things start to get murky. When you're spending six figures on a car, decisions become more emotional than practical. $25,000 is a lot of money, but there's a bigger difference between $25,000 and $50,000 than there is between $167,000 and $192,000. As stated, you don't buy these cars to drive. Performance needs to be merely adequate. A smooth, torquey V12 is likely preferable to a hairy-chested V8, refined as it may be. These cars will never touch redline, lest the passengers spill their champagne. Plus, that V12 badge is worth its weight in country club memberships. Driving an S550 is fine until an owner shows up at an event behind an S600.