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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.

2018 Range Rover Sport Coupe spied in Scotland

Sport utility vehicles are the rage. SUVs with coupe styling are pretty popular, too, as BMW and Mercedes have demonstrated. Now it's Land Rover's turn. Believed to be the upcoming Range Rover Sport Coupe, this ute was spied this week during top secret testing at a remote location in Scotland. The vehicle would slot between the Range Rover Sport and Evoque, giving Land Rover an answer to the Mercedes GLE and BMW X6. These shots show what appears to be a chopped roofline, giving the new model a sportier profile than the traditional upright silhouette of Rovers. We expect it will use a version of the aluminum Jaguar F-Pace platform and offer V6 and V8 engines. It could also offer a hybrid or full electric version. The new crossover might also be lower set in a bid to differentiate it from traditional Rovers and give it a performance vibe. The Range Rover Sport Coupe – or whatever it is ultimately called – would enter a strong segment that's found favor in the United States. Once derided for potentially offering less function than traditional utes, these lifestyle vehicles have developed a strong following for their style and capability. The X6 was so successful, BMW added the smaller X4, and this forced Mercedes to follow suit with the GLE and GLC coupe variants. In this context, it's about time for Land Rover to join the fray. Related Video: Featured Gallery 2018 Land Rover Range Rover Sport Coupe View 12 Photos Image Credit: KGP Photography Design/Style Spy Photos BMW Land Rover Mercedes-Benz

Mercedes-Benz C-Class scores well in TUV lifecycle analysis

Mercedes-Benz drivers and treehuggers don't always go hand in hand, but, like a lot of other companies, the German automaker is looking to boost its green cred. This time, it's all about the car's lifecycle carbon footprint. The Daimler AG unit is using its new C-Class sedan as an example of how it's making progress in that department. Mercedes-Benz, citing the inspection authority TUV Sud, says the 2015 C-Class has a 10-percent lower lifecycle carbon footprint than its 2014 predecessor, based on driving about 125,000 miles over the life of the car. About 95 percent of the car (by weight) is recyclable, slightly higher than the average for most vehicles, and the model has upped its amount of recyclable materials up by 23 percent and increased its use of "natural materials" by 55 percent. Better aerodynamics also helps things out on the fuel-economy front, Benz says. Taking a longer view, the 2015 C-Class's carbon footprint is 28 percent better than the 2007 version that launched the vehicle line. The 2015 C-Class hasn't received a fuel-economy rating from the US Environmental Protection Agency, which tagged the 2014 C350 with a combined fuel-efficiency rating of 24 miles per gallon from its 3.5-liter 6-cylinder engine. Check out Mercedes-Benz's press release below and find the Autoblog First Drive impressions here. TUV Environmental Certificate: The new C-Class makes its mark with an exemplary life cycle assessment Stuttgart, Mar 28, 2014 The C-Class sets efficiency benchmarks for its class, helped by an intelligent lightweight concept, excellent aerodynamics and new, frugal engines. The neutral inspectors from the TUV Sud technical inspection authority have confirmed the high level of environmental compatibility of the new Mercedes-Benz C-Class. Besides a sensuous, clean-cut design, a top-class interior and a host of technical innovations, the premium saloon also boasts an exemplary life cycle assessment, which is why it has been awarded the Environmental Certificate in accordance with the ISO 14062 standard. Professor Dr. Herbert Kohler, Chief Environmental Officer at Daimler AG: "Our engineers have pulled out all the stops in an effort to lower fuel consumption while at the same time further accentuating the car's sporty character. By employing an intelligent lightweight design with a high proportion of aluminium, for example, it has been possible to make the new C-Class up to 100 kilograms lighter than its predecessor.