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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.

Is the original Acura NSX a perfect supercar?

The long-awaited arrival of the second coming of the Acura NSX has naturally brought with it many deep retrospectives on the first Acura NSX. Xcar is the latest with a stint in the time capsule, lining up three NSXs to sample at a track in the UK. There's the red wonder that started it all, the standard aluminum-bodied car that went on sale in 1990, so simple and easy-to-drive, extracting more joy than many thought possible from a 3.0-liter V6 with 'just' 270 horsepower and 210 pound-feet of torque. The 25-year-old exotic shows its years, but mostly because of an automatic transmission that dampens throttle response and doesn't like changing gears. The praises it earned in the day, however, still remain, namely excellent steering, handling, and feedback. After that comes laps in the first NSX Type R, the model that lost more than 250 pounds by having no air conditioning, sound deadening, or stereo, and lightweight tweaks like carbon seats and thinner glass. Although it the tuning makes it much harder, the presenter wants to know, "Why isn't Honda making a car like this today?" Then there's the 2002 model, the one that would only last three years before closing the door on a fifteen-year run. It got better at the same time as it got softer, but by then the NSX had nothing left to prove; it hit every one of its targets, it realigned the segment in ways we're still benefiting from, and for at least half of its run nothing else could touch it. Based on the reviews so far, that might include the brand new, very good and very complicated NSX. Check out the video above for Xcar's take. Related Video: News Source: Xcar via YouTube Acura Honda Coupe Luxury Performance Videos xcar honda nsx

Consumer Reports says Toyota, Ford, Honda and Chevy are big winners in brand perception survey

According to Consumer Reports, the automotive brands that stand out in the minds of car buyers are, in order: Toyota, Ford, Honda and Chevrolet. This news comes after the magazine polled its readers, asking them to take into account vehicle quality, safety, performance, value, fuel economy, design/style, and technology/innovation - which are the factors that car shoppers are most influenced by.
It's important to note that this award is only about perception. In other words, it's perceived quality, not actual quality. "Often, perception can be a trailing indicator, reflecting years of good or bad performance in a category, and it can also be influenced by headlines in the media," said Jeff Bartlett, Consumer Reports deputy automotive editor.
The brand that made the biggest jump in perception amongst Consumer Reports readers is Tesla, which posted an impressive 47-point gain to finish in fifth place. Subaru is also notable for finishing in the top 10, despite being one of the smaller manufacturers doing business in the US. Scroll down below for all the details from Consumer Reports, if you're so inclined.