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Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.

The 11 most expensive American cars ever

Here's a Pro Tip for all you would-be classic car investors out there: buy Ferraris. With the Pebble Beach festivities kicking off this week, including any number high end car auctions, we thought it would be entertaining to compile a list of some to the most expensive cars ever sold with the bang of a gavel. Trouble is, once you get past the splendor of everyone's favorite Italian sports car maker, that list is pretty boring.
Ferrari dominates the all-time auction sales list; seven of the top ten most expensive cars sold wear the Cavallino Rampante badge, as well as more than half of the top fifty. Sure, a nearly $30-million Mercedes-Benz W196 racecar might be the new top dog as of last year, but it's even possible that Ferrari could take that title back in Monterey this weekend. Long story short: we think a list of the most expensive American cars ever sold at auction is a lot more entertaining to read. Hell, our list has a friggin' Batmobile on it, how can it go wrong?
Follow on below for the top ten cars that are red, white, blue and a whole lot of green.

Ford, Volvo join Redwood in EV battery recycling push in California

Ford and Volvo will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid vehicles and recover the materials for use in new batteries, the companies said Thursday. Redwood Materials, co-founded by former Tesla executive JB Straubel, formed an earlier partnership last fall with Ford to develop a “closed loop” or circular supply chain for electric vehicle (EV) batteries, from raw materials to recycling. On Thursday, Redwood Materials said it would work directly with dealers and dismantlers in California to identify and recover end-of-life battery packs. The materials in those packs will be recovered and recycled at Redwood Materials facilities in northern Nevada. U.S. automakers Ford and General Motors Co (GM) have said the battery recycling effort is crucial in efforts to develop a domestic supply chain to meet increasing EV demand. GM and battery partner LG Energy Solution last year announced a partnership with startup Li-Cycle to recycle battery scrap material from Ultium Cells, the GM-LG joint venture that is building battery plants in Ohio, Tennessee and Michigan. Redwood Materials has similar partnerships with battery makers Panasonic in Nevada and Envision AESC in Tennessee, as well as with Amazon. Ford and Amazon are among the investors in Redwood Materials. Reporting by Paul Lienert in Detroit; Editing by Mark Potter Green Ford Volvo Green Automakers Electric