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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 leading rival BMW in worldwide luxury sales race

If you thought competition among the German luxury automakers was hot before, it looks like things are just getting started. For the first two months of the year, Audi has sold more cars than BMW worldwide by just 383 cars.
Audi claims to have sold 242,400 vehicles through February, up 9.3 percent from last year, compared to 242,017 units from BMW, up 8.9 percent, in the same period. While the advantage is tiny, its implications could be huge because Bimmer has been the leader in the premium car segment for the last nine consecutive years. Mercedes-Benz lags behind them somewhat at 229,630 vehicles through February. According to Bloomberg, at this time last year Audi had sold 429 fewer cars than BMW.
The growth is all part of Volkswagen Group's goal to become the world's largest automaker. It currently ranks in second when its heavy truck businesses are considered. The German automotive giant also wants to be the world's leading premium carmaker. "Competition in the premium segment is more intense than ever," said Audi CEO Rupert Stadler to Bloomberg.

Audi rolls out new A6 L E-Tron hybrid for China

Audi is expanding its range of hybrid models with the introduction of the A6 L E-Tron at the Shanghai Motor Show. It's earmarked specifically for the Chinese market and is based on the long-wheelbase A6 L already produced there. The new E-Tron model marries a 2.0-liter turbo four good for 211 horsepower and 258 pound-feet of torque to an electric motor with 122 hp and 162 lb-ft integrated into the eight-speed automatic transmission. A lithium-ion battery pack provides 14.1 kWh power. Mounted in the trunk, it limits cargo capacity to 11.9 cubic feet. The system produces net output of 245 hp and 369 lb-ft – enough to send the long-wheelbase hybrid to 62 miles per hour in 8.4 seconds en route to a top speed of 130 mph. All the while, it'll return 106.9 miles per gallon by the Chinese standard, traveling over 30 miles on electric power alone (at speeds of up to 83.9 mph) and up to 546.8 miles without needing to stop. The A6 L E-Tron is one of three new hybrids Audi is showcasing in Shanghai this year, alongside the Q7 E-Tron and Prologue Allroad concept. Ingolstadt, 2015-04-16 The new Audi A6 L e-tron for China - First Audi plug-in hybrid model from Chinese production - Output of 180 kW (245 hp) with extremely low consumption - 50 km (31.1 mi) electric range and total range of 880 km (546.8 mi) With the A6 L e-tron, Audi is taking an important step toward even greater fuel efficiency in China. The sedan has been developed specifically for the Chinese market. Its plug-in hybrid drive with 180 kW (245 hp) provides for powerful performance. The model consumes on average just 2.2 liters of fuel per 100 kilometers (106.9 US mpg). After launching the e-tron era in China with the imported A3 Sportback e-tron* in 2015, Audi is taking the next step with the local production of the A6 L e-tron beginning in 2016. The model is based on the long version of the Audi A6, which is already built in China, and is configured as a highly efficient parallel hybrid, meaning that its two drives are arranged one directly behind the other. The 2.0 TFSI is a state-of-the-art, four-cylinder, gasoline engine producing 155 kW (211 hp) and 350 Nm (258.1 lb-ft) of torque. The disk-shaped electric motor provides 91 kW and 220 Nm (162.3 lb-ft) of torque. Together with a decoupler, this is integrated into the eight-speed tiptronic transmission, which transfers the power to the front wheels. System output is 180 kW (245 hp); maximum system torque is 500 Nm (368.8 lb-ft).