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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.

1,682 miles in a 2014 Audi A8 L TDI - Part 2

Interruptions like the Canadian Grand Prix, Le Mans, Pikes Peak, that ridiculous Porsche 911 GT3 and the really good, really outrageous Jeep Cherokee, are among the distractions that delayed the conclusion of this tale. If you'll remember, in Part 1 we started off in a parking lot in Sebring with an Audi A8, headed anywhere that would empty our tank, and after five days in Miami and Ft. Lauderdale and Pompano Beach we bolted in the middle of the night for a breakfast date at an IHOP a couple hundred miles away.
We last left proceedings at a Chevron pump beside the West Florida Turnpike, somewhere around midnight in the humid wilds, having done 660 miles and spent $89.40 to put 20.992 gallons in the great white whale. We had done average speed of 31 miles per hour at an average rate of 27.5 miles per gallon. Those kinds of numbers, as we demonstrated, are good enough to put you in the fuel economy orbit of the Toyota Corolla - to be precise, it only cost $6.40 more to cover that 660 miles in the A8 TDI than it would in the Japanese compact. That led us to conclude that there were just a couple of Starbucks Venti lattes between the A8 and the Corolla, assuming we conveniently ignore the two cars' purchase prices. Turns out we were wrong: it didn't take long for a commenter named "mike" to set us straight when he wrote, "It's clear you weren't lying about not frequenting Starbucks...no way could you get two venti lattes for $6.40." Mike, we salute you - our ignorance of terrible coffee has served the higher purpose of emphasizing the strong case made by the diesel Audi.
But that A8... well, the wheels were still on the damn thing and we had to drive them off. That meant five more days of pilot duty to get us from wherever the hell we were to Wildwood and Daytona Beach, FL, then Brunswick, Macon and Atlanta, GA, then Birmingham, AL, and back to Atlanta.

Audi A6 gets styling, powertrain tweaks

The Audi A6 is already a fairly handsome, German luxury sedan, but the whole range is receiving some styling updates in Europe this fall. Audi's US arm would not directly confirm which of these updates will be coming to America, instead just telling us that an updated A6 will be coming next year.
On the outside, the tweaks are fairly minor. The company's single-frame grille, which shows up throughout the model lineup, gets some very subtle styling changes, and the lower bumper and its air intakes are also reshaped. More obviously, the headlights have a new form with the LED running lights cutting through them in roughly the shape of a T, as opposed to outlining them, as before. A similar shape is also used for the updated taillights, and there are now rectangular exhaust outlets around back, as well. In profile, the side sills also get a harder crease toward the rear of the sedan.
Inside, things are kept generally the same, as well. There's a new Flint Gray interior color for the A6 and Salsa Red for the S6. But the biggest change is a power-retracting eight-inch infotainment system using the Nvidia Tegra 30 graphics chip. The optional night vision assist system is also improved with new functions, according to Audi.