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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.

Ugly Moto makes beautiful motorcycle art [w/video]

Ugly Moto is a horrible name for a company that makes such wonderful motorcycle art. The creation of artist Francis Ooi, the company's illustrations focus on some of the iconic racing bikes of the 1960s and 1970s.
The artwork has an elegant simplicity that really makes it pop. It would fit just about anywhere from a home office to the bedroom of a young gearhead. Ooi has completed six illustrations so far covering classic cycles from Honda, Ducati, Yamaha and even Harley-Davidson. According to his site, the Suzuki RGB500 ridden by Barry Sheene will be the next one released. All of the prints are priced at $65 and are limited to 100 copies. They are all about 16.53 inches by 23.58 inches in size.
According to his website, these prints are just a hobby for Ooi and his real career is as the creative director at an ad agency. He creates the illustrations on his Mac, and he estimates that each design with about 800 components and layers takes about a month to complete. You can get idea of the process involved in the time-lapse video below.

Honda launches new JDM Odyssey, Mugen chips in [w/video]

Honda has just released its new Odyssey minivan for the Japanese Domestic Market, and it has plenty of style and room for up to eight people. Honda factory tuning company Mugen will also offer performance and styling parts for the fifth-generation minivan.
The Odyssey is offered in B and G trim with a 173-horsepower, 2.4-liter I-VTEC four-cylinder mated to a continuously variable transmission with optional paddle shifters and seven 'speeds.' The more upscale Odyssey Absolute features sportier styling, and but all models are available in either front-wheel drive or all-wheel drive.
The interior follows a "modern suite" design concept inspired by luxury hotels, with wood trim and comfortable-looking seats. Additionally, customers can choose between models with a lift-up second-row seat or a lift-up front passenger seat. Honda highlights the Odyssey's low floor height and high ceiling, which accentuates the spacious interior. The low floor also endows the minivan with a step height of 30 centimeters (11.8 inches) at the rear sliding door to afford easy entry.