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Audi-only rental car company expands

With the lines and occasional hassle, getting a rental car after a long flight can be daunting, even if you already have a reservation. Now, a company called Silvercar is trying to inject some luxury and modern, high-tech features into the process to make it less of a chore. The business recently expanded to O'Hare International Airport to offer visitors to Chicago a fleet exclusively comprised of silver Audi A4s. Silvercar is based in Austin, TX, and is being run by Luke Schneider, a former chief technology officer at ZipCar. He told Crain's Chicago Business that the rental industry "hasn't innovated in 30 to 40 years." Silvercar's big innovation is in the booking process. Like ordering practically anything today, it's all done through a smartphone app. Customers then scan a QR code on the Audi's windshield to get going. At the end of the rental, the bill is emailed to you. Prices start around $59 a day on weekends and $89 during the week, according to Crain's. Because they're all A4s with GPS and Wi-Fi, everyone gets the same car. In the world of ridesharing companies like Uber and Lyft, rental cars might seem passe, but according to Crain's, the rental market at O'Hare alone amounts to over $300 million a year. Silvercar's location there isn't at the actual airport, though. Instead, a shuttle picks up customers to take them to the company's site nearby. The business is working on a national rollout to 10 airports by the end of June, including major locations like LAX and Denver. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

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 4.2-liter V8 to live again in next-gen R8

Fellow auto enthusiasts, it looks like the car gods have smiled upon us. Word is that Audi's stupendous 4.2-liter V8 will once again be available in the next-generation R8. Rumors pegged the trusty 4.2 as a dead engine revving, thanks to Audi's newer 4.0-liter twin-turbocharged V8 found in models like the S6 and S7.
We expected the 4.0-liter to be the go-to engine in the next R8, but according to Car and Driver, there have been some issues cooling the force-induced mill in the mid-engine R8. The issues are so severe, in fact, that the 4.2 is going to be retained in the car's second generation.
It's more than just practical matters like cooling that are keeping the R8 from going turbocharged. C/D reports that even with the current state of forced induction, a turbocharged R8's throttle response and its resultant exhaust note would suffer too much to be feasible.