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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 confirms autonomous tech for next-gen A8

Like so many of its rivals, Audi is hard at work getting its autonomous driving technology up to speed and ready to reach the market. And now it's revealed when we can expect that time to come – or at least in what form it will arrive. In announcing the achievements of its latest RS7 Piloted Driving prototype, Audi has confirmed that the system will be offered for the first time on the next A8, the upcoming iteration of the German automaker's flagship sedan. Just as we heard this past January, the next-gen A8 will be able to drive itself around town at speeds of up to 37 miles per hour. Ingolstadt still isn't saying when we can expect the new A8 to arrive, but considering that the current model has been around since 2009 (albeit with periodic updates along the way) and that its key rivals – the Mercedes S-Class and BMW 7 Series – are both much newer models, Audi shouldn't be waiting much longer to launch its new flagship. The announcement was made as part of the reveal for "Robby," the latest version of the company's self-driving RS7 concept. The previous version, dubbed "Bobby," was based on the same model, and gave our man Jonathon Buckley over at Translogic a run for his money around Ascari a few months ago. (We'll let you watch the video below to see who fared better). But the new version is a good 882 pounds lighter, lapping the Sonoma Raceway (previously known as Infineon or Sears Point) in 2:01.01. That's in what is ostensibly still a road car, just one that's operated by a computer. The fastest lap ever recorded on the full 2.5-mile circuit, in case you were wondering, was also achieved in an Audi, but that was the R8 Le Mans Prototype that Allan McNish hustled around in a 1:20.68 qualifying lap. Related Video: 07/13/15 Sonoma/Ingolstadt Faster than a sports car driver: Audi pilots itself on US race track - Testing the new-generation Audi RS 7 piloted driving concept - Top lap times on Sonoma Raceway in California Piloted driving at Audi is approaching production readiness at race pace. On one of the world's most challenging race tracks, the Sonoma Raceway in California, the latest generation of the Audi RS 7 piloted driving concept has surpassed previous top performances once again. Audi will be offering piloted driving for the first time in the upcoming generation of the Audi A8.

Audi moves to patent electric Quattro and active-shutter wheels

Audi might have a few tricks up its sleeve for the coming years, with the Brits at Autocar uncovering a pair of patent filings made by the German luxury brand. The first is something we've seen before - wheel flaps - while the second is an evolution of one of Audi's trademark technologies.
We last saw wheel flaps on the Ford Atlas Concept in 2013, but the futuristic fuel-saving tech has so far failed to arrive on a production car. Audi may be seeking to change that, patenting the flaps that open and close automagically based on airflow. They can also open if the brakes get too hot.
The second patent is an evolution of Audi's Quattro all-wheel drive. The new AWD system uses an electrically driven rear axle and wheel sensors to figure out when and at which corner the car might lose traction, and is targeted largely at hybrid offerings, which is a field Audi has only recently dipped its toe into.