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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 previews sleek crossover concept ahead of Beijing debut

With the Beijing Motor Show approaching just a couple of weeks down the road, automakers have begun announcing the concept cars they have in store. Nissan has a new sedan concept coming, Lexus will reveal the production NX crossover and Citroën has a tempting sports sedan concept lined up for the Chinese auto expo. And now Audi has hinted at what it has in store.
Revealing only a trio of renderings with no details to accompany them so far, Audi appears to have a new crossover concept in the works. Referred to only as the Audi Showcar Beijing 2014, the brief calls for a five-door crossover with a rather coupe-like roofline, rugged lower body cladding and a flexible cabin with quad bucket seats.
The form bears telltale similarities to the new TT, suggesting that this concept could be a further evolution of the Allroad Shooting Brake concept that Audi revealed in Detroit. If put into production, we could see it wearing the Q4 badge, giving Ingolstadt a rival to the likes of the BMW X4, Porsche Macan and Range Rover Evoque. However, until Audi tells us otherwise, that's all speculation...

Audi reveals R8 E-Tron Piloted Driving concept at CES Asia

Designed as they are to take the driver out of the equation, you might think that the idea of an autonomous vehicle would seem diametrically opposed to that of a supercar. But Audi disagrees. The German automaker has cooked up a series of "piloted driving" concepts that are increasingly focused on performance, and this could be the ultimate iteration yet. Audi's latest Piloted Driving demonstrator is based on the R8 E-Tron. It's altogether almost identical to the one we saw in Geneva, packing an electric powertrain to deliver 456 horsepower, 679 pound-feet of torque and a 0-62 time of 3.9 seconds. Only in this case, it can do it all on its own, without any driver intervention. To pull that off, Ingolstadt has fitted this show car with an array of sensors, including a new laser scanner, multiple video cameras, ultrasonic sensors and radar transmitters at both ends – all handled by a central "driver assistance control unit." It's the latest in a series of concept cars that has already included a version of the RS7 Sportback designed to lap the racetrack, and the Prologue concept that drove itself to CES. This concept was similarly unveiled at CES Asia, the Eastern counterpart to the tech expo we usually catch in Las Vegas. Just what the point is in engineering (or buying) one of the best-driving cars on the market and then handing over its operation to a computer, we don't quite get. But at least we can rest easy knowing that Audi is not giving up on performance as autonomous tech turns the driver into just another passenger. Related Video: Audi R8 e-tron piloted driving technical concept car 340 kW of power, 0 to 100 km/h (62.1 mph) in 3.9 seconds and a driving range of 450 km (279.6 mi) – Audi has extensively developed its all-electrically powered high-performance R8 e-tron sports car further. The technology study is one of the highlights of CES Asia, and it brings together future technologies – which relate to lightweight design, high-performance drive systems and functions for piloted driving. The Audi R8 e-tron piloted driving concept car is based on the multimaterial Space Frame of the new production R8. A rear car body module made of carbon fiber reinforced polymer (CFRP) integrates the luggage compartment, which extends the frame structure. The walls of the luggage compartment shell are corrugated, so that they can absorb extreme amounts of energy with little material weight in case of a rear-end collision.