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F1 cancels season-opening Australian Grand Prix over coronavirus

Workers pack up in pit lane after the cancellation of the Australian Formula One Grand Prix in Melbourne, Friday. / AP   MELBOURNE, Australia — As thousands of fans queued to get into the Australian Grand Prix, seemingly unperturbed by the coronavirus pandemic, the Formula One teams and drivers were packing up to leave. The rapid spread of the virus left organizers with little choice Friday but to cancel the season-opening race, particularly after McLaren withdrew because a team member tested positive for the COVID-19 illness and following heavy criticism from six-time world champion Lewis Hamilton. The two practice sessions that usually showcase what the teams have been improving in the off-season were less than two hours from starting when the decision was publicly announced. Principals of nine F1 teams and organizers met overnight and “concluded with a majority view of the teams that the race should not go ahead," a joint statement by FIA, motorsport's governing body, local organizers and F1 said. “It's been a very fluid situation," F1 chairman Chase Carey said. “We're all disappointed not to have it, but I think we've made the decision we had to make." “It's not like it came out of the blue," Carey told a news conference beside the F1 paddock that ended in light rain. “A week ago, when teams started traveling here, we felt it was the right decision (to stage the race). Clearly the situation changed in the interim." Practice, qualifying and Sunday's race were all scrapped, casting doubt over the Bahrain Grand Prix which is scheduled to be held next week and the Vietnamese GP, scheduled for April 5. Authorities in Bahrain have already said no fans will be allowed into the circuit. Carey said a decision on whether or not to go ahead with the the race would be made in coming days. The Chinese GP has already been postponed from April. Hamilton used the first official news conference with F1 drivers in Melbourne to say he was shocked that organizers planned to proceed with the Australian Grand Prix, which regularly attracts more than 300,000 people over four days. McLaren's decision to withdraw was ultimately the catalyst for the cancellation. That person and 14 other McLaren team members have been placed in quarantine in a Melbourne hotel for 14 days. Hamilton's Mercedes-AMG Petronas team said it sent a letter to the FIA and F1 requesting the cancellation and had commenced preparations to leave before the decision was publicly announced.

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.

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.