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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.

Listen, the Type R and the WRX STI don't look alike. Here's why.

So following the reveal of the new Honda Civic Type R, we've seen quite a few commenters issuing all kinds of accusations about the Type R looking like a WRX STI. And you know what? They're right. Both cars have four wheels, four-passenger doors, big wings, and scoops. In all seriousness, aside from a passing similarity because they're both flashy sport compacts, they really don't look alike. Let's start with the front and the profile. These areas are technically the most similar, since both cars feature high beltlines and have lower fascias defined by large inlets and a deep chin spoiler. And admittedly, the little kick-ups on the lower rear portion of the side windows are reminiscent of each other. But that's where the similarities end. Up front, the grille is by far the clearest indicator that the Honda is most certainly a Honda. The wide "blade" shape that spans the nose from light-to-light is unmistakably from the company that gave us VTEC. After all, just about every Honda today uses some form of that grille. The Subaru, on the other hand, has a traditional grille that is distinctly separated from the lights. It's not a bad thing, Subarus have had rather anonymous designs in the past, and we've still liked them. It's a Subaru thing. Moving to the scoops, we find more differences. For once, the Type R is more restrained, with a small, low-profile inlet far back on the hood. It will not be mistaken for the massive one on the STI, which looks like it could suck up low-flying fowl. View 58 Photos Along the side, the distinctions continue to pile up. The key here is in the fenders. While the STI has proud, pumped-up fenders compared with its distant Impreza cousin, they aren't nearly as pronounced as those on the Type R. The Honda's flares clearly show that they protrude from the standard hatchback's sheetmetal and closely follow the curve of the wheelarches. The STI's fenders proceed along the body's lines more closely and blend in more. Finally, we come to the rear, where no one should ever get these two vehicles confused. Yes, they both have enormous rear wings and diffusers, but that's it. For starters, one car is a hatchback, and the other is a traditional sedan. Not only that, but the Type R's hatch has a distinctive split rear window. I mean, based on the criteria people have used to compare the Type R with the STI, they should've actually been comparing the Honda to a Prius.

Continental Automotive recalls 5 million airbag control units

Takata isn't the only supplier having airbag problems. Rival manufacturer Continental Automotive Systems announced a recall of 5 million airbag control units fitted to vehicles from Honda, Fiat Chrysler Automotive, Mercedes-Benz, and even a certain Chrysler-based Volkswagen. This sweeping recall has actually been in progress for some time, although the exact scope is only now becoming evident. In October of 2015, Mercedes-Benz recalled 2008 and 2009 model year C- and GLK-Class vehicles because their Continental-made airbag control units could corrode. Such a condition could cause the airbags to deploy without cause or warning, or in the event of a crash, not deploy at all. You can read all about it in our post from last year. Now, Continental's recall is going wide. Alongside the already recalled C and GLK, you've already heard about the 2008 and 2009 Honda Accord airbag recall, which we reported on yesterday. Now, Fiat Chrysler is announcing the recall of the 2009 Dodge Journey, as well as the 2008 and 2009 Dodge Grand Caravan, Chrysler Town and Country, and their rebadged counterpart, the Volkswagen Routan. Yes, one manufacturer is recalling another manufacturer's vehicle. The models listed above only amount to about 580,000 vehicles out of 5 million bad airbag control units. And since Continental will notify manufacturers who will then issue their own recalls, it's extremely likely that more brands and vehicles will be ensnared. Stay tuned. Related Video: News Source: NHTSA via Automotive News - sub. req.Image Credit: Fabian Bimmer / Reuters Recalls Chrysler Dodge Fiat Honda Mercedes-Benz Safety Crossover Minivan/Van Sedan FCA