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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.

A luxury crossover for people who like to drive | 2018 Audi Q5 First Drive

1.6 million. That's how many Q5s Audi has sold since the model's 2008 debut, making the agreeable but stylistically neutral sport-ute the best-selling premium SUV on the planet. One in four Audis sold is a Q5, which is a big part of why the German carmaker made significant improvements intended to ensure the 2018 Audi Q5 is another success story. For starters, the Q5 has swollen in size. Not by much – we're talking 1.3 inches in length, half an inch in wheelbase, and incrementally more height – but enough to boost rear legroom by 0.39 inch and add 0.31 inch to rear headroom. If you're worried that curb weight has bloated in direct proportion to the larger footprint, fear not: The 2018 model is actually up to 198 pounds lighter than the model it replaces, thanks to a carefully modulated blend of high tensile steels and aluminum in the chassis, and incremental weight savings throughout. Two turbocharged engines are available: the Q5's 2.0-liter TFSI engine producing 252 horsepower and 273 pound-feet of torque (doing the 0-to-62-mph sprint in 6.4 seconds), and the SQ5's 3.0-liter TFSI mill that turns 354 hp and 369 lb-ft (capable of whisking it to 62 mph in 5.2 seconds). The 2.0-liter meets a new seven-speed dual-clutch S tronic transmission, while the beefier 3.0-liter gets a conventional eight-speed torque-converter-equipped gearbox to handle the higher torque. Audi's new Quattro ultra setup (already seen in the A4 and Q7) offers fully variable torque distribution that helps achieve 20/27 mpg with the 2.0-liter and 18/26 mpg for the 3.0-liter. The system can de-couple the rear axle via an electronic clutch, which improves fuel economy; with 100 percent of torque directed to the front wheels during straight-line driving, the parasitic losses of running power needlessly through the rear differential are avoided, while a second clutch controls front/rear torque distribution. Audi says the ultra setup works proactively, not reactively, using torque vectoring to distribute power and anticipating changes in vehicle dynamics 500 milliseconds before the torque is redistributed. While there are numerous tech updates under the skin, the body itself is very familiar. In person, the Q5's looks are tweaked ever-so-slightly thanks primarily to a curvier, crisper character line that is so sharp, it casts its own shadow under certain lighting conditions. Inside, a Q7-like upgrade gives the cabin a more sophisticated feel.

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.