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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.

Audi A3 E-Tron is a look at battery-operated things to come

Audi officially unveiled the A3 Sportback E-Tron at the 2013 Geneva Motor Show. While not a production model, the plug-in hybrid gives us a good glimpse at what the German automaker has in store for future products. The five-door gets around thanks to parallel hybrid drivetrain comprised of a turbocharged 1.4-liter four-cylinder engine and a small electric motor integrated into the vehicle's six-speed dual-clutch transmission. While the four-cylinder churns up 150 horsepower and 184 pound-feet of torque, the motor contributes 100 horsepower and 242 lb-ft of twist. All told, the design allows the E-Tron to serve up its full power from just 1,750 rpm.
An 8.8-kWh lithium-ion battery sits under the floor beneath the rear seat, complete with a liquid cooling system designed to keep the pack in its optimum temperature range. The A3 Sportback E-Tron can be charged in as little as 2.5 hours with a 3.6-kW charger, yielding an EV range of up to 31 miles. The machine can also travel using the electric motor, ICE or a combination of the two for a total range of 584 miles. Check out the full press release below.

Audi Quattro tech shoots for the moon

Most automakers seem satisfied building vehicles to drive on the Earth's surface. But not Audi. The German automaker is quite literally shooting for the moon with the vehicle you see here. Called the Audi Lunar Quattro, it forms what promises to be an integral part of one team's campaign for the Google Lunar Xprize. That team calls itself Part-Time Scientists, and is the only German contingent of the 25 that originally entered from around the world and the 15 that are still in the race. Sponsored and technically assisted by Audi, the Lunar Quattro is a solar-powered moon rover. It packs an adjustable solar panel and a lithium-ion battery powering four individual hub motors – one in each wheel. It can only travel at a theoretical maximum of 2.2 miles per hour, but outright speed isn't the point here. It's been designed to traverse the difficult terrain of the moon's finely dusted and craggy surface. It'll need to travel at least 500 meters (1,640 feet) and will transmit high-definition video footage from the twin stereoscopic camera on its swiveling head back to Earth. The lunar rover is scheduled to be launched aboard a rocket from Earth to the moon by the end of 2017. The 240,000-mile trip will take five days and is targeted to land north of the moon's equator – close to the place where Apollo 17 (NASA's last manned lunar mission) landed back in 1972. Before that, though, it'll be presented by Audi sales chief Luca de Meo (who's since been named the head of Seat) at the Cannes Innovations Days forum. You can check it out in the gallery and extensive press release below, but first, we suggest you watch the video playlist above while preparing to check out tonight's red moon eclipse. Related Video: Moon landing mission: AUDI AG supports the German Team at Google Lunar XPRIZE Audi is taking off for the moon – together with the Part-Time Scientists team. The group of German engineers are working within the framework of the Google Lunar XPRIZE competition to transport an unmanned rover onto Earth's natural satellite. Audi is supporting the Part-Time Scientists with its know-how in several fields of technology – from quattro drive and lightweight construction to electric mobility and piloted driving. The moon rover will be named the "Audi lunar quattro." "The concept of a privately financed mission to the moon is fascinating," says Luca de Meo, Audi Board Member for Sales and Marketing. "And innovative ideas need supporters that promote them.