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Honda introducing all-new EV, PHEV models by 2018

Honda finally showed off its FCV Concept (with our first glimpse of its interior) to a North American audience at the 2015 Detroit Auto Show today, but the big news from the Japanese automaker was that the hydrogen fuel cell vehicle will be joined in the market by two new alternative fuel vehicles by 2018. One is an all-new pure battery electric vehicle and the other is an all-new plug-in hybrid. Details on the new vehicles were slimmer than the skinniest hipster jeans in all of Detroit, but the announcement shows that Honda wants to grow its portfolio of alt-fuel powertrains in the not-too-distant future. Honda currently sells the Fit EV and various Accord hybrids, and also showed off the upcoming Acura NSX here in Detroit this week. Ryan Harty, Honda's manager of environmental business development, said that these vehicles are all in service of the upcoming stricter CAFE fuel economy requirements. "Leading up to 2025 [the 54.5 mpg level], in order to meet regulation – not just US but globally – and more to meet our customer's expectations, we think big improvements in ICE engines can meet those," he said. "But also very exciting to all of us at Honda is our upcoming electromobility products. We really are building the foundational blocks to get to where we need to go after 2025." "We want to bring these vehicles to market in significant volume." - Ryan Harty That means vehicles that devour electricity. "Honda is very optimistic about the future of electromobility," Harty said, "not just the hybrids that we've already brought out but how those hybrids and our experience with fuel cell vehicles and battery electric Fit EV and Accord plug-in hybrids is giving us the confidence to launch a brand-new generation of battery electric and plug-in hybrid vehicles. This will be a new sales pillar for American Honda. We want to bring these vehicles to market in significant volume." Honda says that it will also use, "further application of two- and three-motor hybrid systems" in the US. The fuel cell concept will arrive as a production version after March 2016. That is when it is scheduled to launch in Japan, with US deliveries happening some time later. In the near-term, though, expect better VTEC turbo engines to power more Honda vehicles while using comparatively less fuel. Honda says it will invest $340 million at the Anna Engine Plant in Ohio to build a new 4-cylinder engine. Down the road, though, its electrons over petroleum.

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.

2015 Mexican Grand Prix is a lot like old times

The last time Formula One visited Mexico, in 1992, 26 cars powered by eight engine manufacturers (counting Honda and Mugen-Honda separately) lined up on the grid; it would have been nine engine makers but the Brabham-Judd cars failed to qualify. In 1992 Lewis Hamilton was seven years old, Sebastian Vettel was five, Max Verstappen was still five years away from being born. Two of the current Sky Sports F1 commentary team, Martin Brundle and Johnny Herbert, were drivers. The starting three were Nigel Mansell on pole – 39 years old, this the year he'd win his only World Championship – and Riccardo Patrese both driving Williams-Renault cars, followed by Michael Schumacher in a Benetton-Ford. Only 13 of the 26 starters would finish. The circuit is has been reworked to today's safer standards, the track surface is brand new and slippery, but the atmosphere and packed grandstands haven't changed. Nico Rosberg was another point of consistency, scoring pole position for the fourth race in a row to beat his now-World-Champion teammate Hamilton by almost two-tenths of a second. The last time Rosberg turned pole position into a victory? The Spanish Grand Prix back in May. Vettel locked up third for Ferrari, followed by the Infiniti Red Bull Racing duo of Daniil Kvyat and Daniel Ricciardo. Williams went two-up as well, Valtteri Bottas in sixth ahead of Felipe Massa in seventh. Max Verstappen turned in a great late lap to reserve eighth place, Sergio Perez did all he could in front of his home crowd to get ninth, teammate Nico Hulkenberg the caboose in the top ten. In that 1992 race the first three on the grid finished the race in the same order after Mansell dominated, and it was almost the same in 2015. If Rosberg had driven the whole season like he drove today the Driver's World Championship would still be up for grabs. He got a great start and held his line through the first corner, coming out ahead of Hamilton through the initial kinks, pulling away as soon as he got to the straight. Hamilton was never more than a few seconds behind, but every time the Brit inched closer the German found a few more tenths to keep his distance. The field got bunched up when the Safety Car came out on Lap 53 after Vettel spun and got stuck in the barriers, but Rosberg handled the restart perfectly. Both drivers made small mistakes in the last few laps while driving on the edge, but Rosberg earned a strong victory, crossing the line two seconds ahead of his teammate.