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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 reveals Prologue Allroad concept ahead of Shanghai

Audi kicked off the Prologue series of design studies with the coupe concept unveiled in LA, then followed up with the Prologue Avant wagon at the Geneva show. Now, we're seeing the third iteration in the form of the Prologue Allroad concept. Set to be unveiled next week at the 2015 Shanghai Motor Show, the Prologue Allroad picks up where the previous two left off, but takes it in a more rugged direction. At 16.8 feet, it's longer than both of the previous concepts, and stretches out to the same length as a standard-wheelbase A8. It also rides three inches higher than the Prologue Avant concept. Not only is it larger than the preceding showcars, it's also more powerful. Under the hood sits a hybrid powertrain that pairs a 4.0-liter twin-turbo V8 to an electric motor integrated into eight-speed automatic transmission. Together they produce a whopping 738 horsepower and 664 pound-feet of torque, driven to all four wheels to send the concept to 62 miles per hour in a scant 3.5 seconds – all the while returning a claimed equivalent of 98 miles per gallon. If that's not the best of both worlds, we don't know what is. Plus, the car packs an inductive charging system that Audi says it's developing for production. Massive 20-inch brake discs keep that performance in check, sitting inside 22-inch wheels, all mounted to an adaptive air suspension and four-wheel adaptive steering. Other exterior features include door lock sensors integrated into the window frame, Matrix laser headlights and LED taillights. Inside it's all angular yet elegant, swathed in dark blue, beige and brown. Display screens abound, stretching across the dashboard with a deployable OLED infotainment display in the center console. There's another OLED screen for the passengers in the pair of rear seats, who can also dock OLED tablets in the front seatbacks. A pop-up "sound spoiler" promises to envelop the cabin in music, and there's inductive charging for mobile devices as well. Together with its conceptual stablemates, the Prologue Allroad concept points towards a stylish and technologically advanced future for Ingolstadt, and we're looking forward to seeing this show car transition into production as the next A6 Allroad. In the meantime, you can scope out all the details in the press release below and view the concept from every angle, inside and out, in the slideshow above.

Editors' Picks February 2021 | Ford F-150, Genesis GV80, Mazda CX-30 and more

If we’ve driven and reviewed it, thereÂ’s an Autoblog Rating for it. ItÂ’s been over two years since we launched a new rating system to help you evaluate cars at a glance. We tweaked and improved it along the way and quickly arrived at a consistent process for giving each and every car on sale today a fair score. Cars that are exemplary or stand out in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. Every car we rate gets a score from 1 to 10, making it easy for you to tell if itÂ’s a car worth pursuing and possibly purchasing. YouÂ’ll find the scores of previously-rated cars attached toward the top of our written reviews. For example, the Bronco SportÂ’s rating can be found here. The Acura TLXÂ’s rating is in this post, and the Nissan RogueÂ’s rating is right here. There are hundreds of examples to be found. The above examples make up the most natural ways to find the Autoblog rating when researching for your next car, but starting today, weÂ’re going to begin calling out each new set of Editors' Picks per month in their own breakout stories. This will put the newest and most recently refreshed cars on sale on a pedestal for you to see which ones are worth your while. WeÂ’ll typically rate anywhere between 5-10 new cars per month, so you can count on just a select few from those to make this list. Expect to see this recurring ratings post each month going forward, and read on for FebruaryÂ’s EditorsÂ’ Picks.   2021 Genesis GV80 2021 Genesis GV80 View 18 Photos Quick take: The stylish GV80 offers useful safety features, compelling design and sporty dynamics to push it near the top of the segment. Genesis takes risks with this aggressive crossover, and the result is a luxurious vehicle that is rewarding to drive. Score: 8.5 What it competes with: Lincoln Aviator, Volvo XC90, BMW X5, Mercedes-Benz GLE-Class, Acura MDX, Lexus RX Pros: Beautiful design, good road manners, awesome value Cons: Small third row and cargo space, less comfortable standard suspension  From the editors: Editor-in-Chief Greg Migliore — “The GV80 is a hugely important vehicle for Genesis. It makes a style statement, has an elegant interior and is a compelling all-round execution. It looks like a Bentley, and I give Genesis props for taking some risks with the GV80 and largely pulling it all off.