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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.

Recharge Wrap-up: Cool new Euro VI railroader Unimog, Car2go hearts charity

Mercedes-Benz's mega-cool road-railer Unimog now boasts Euro VI compliance. Used for railroad track maintenance and train shunting work, this diesel-powered Unimog offers about a 90-percent improvement in particulate emissions over the Euro V. The new engine also offers improved efficiency. It provides 231 horsepower, and with eight forward and eight reverse gears, it can travel up to 31 miles per hour in either direction. It also has new in-cabin features that make it easier to use for the driver. Read more about the new road-railer Unimog in the press release below. Carsharing group Car2go has launched a donation feature within its mobile app, called "ride2provide." The feature lets users find "heart cars," which, when used, include a $1 donation to Whole Planet Foundation. The money raised by the ride2provide program goes towards the Whole Planet Foundation's mission of providing microcredit to the poor for creating or expanding home-based businesses. Car2go's ride2provide program started August 4, and runs for 90 days. Learn more in the press release below. China continues to pave the way for more EVs, but some people are still skeptical they'll catch on. Charging station operators will be forgiven some of their electricity fees until 2020, said the National Development and Reform Commission (NDRC). China has already extended tax exemptions on EVs through 2017. The NDRC is also urging local governments to offer subsidies and free charging. Still, the costs involved with installing chargers are keeping many from doing it, and many consumers are hesitant to become early adopters of EVs. Read more at ECNS. car2go Launches "ride2provide" To Help car2go Communities To Work Together To Give Back "ride2provide" To Be Integrated via car2go Mobile App Beginning August 4th car2go To Donate To Whole Planet Foundation® As Program's First Exclusive Charity car2go North America LLC, the fastest-growing global carsharing company, announced that it has launched "ride2provide," a donation feature to be integrated into the car2go mobile app for iPhone and android iOS beginning today, August 4th. The new initiative seeks to help car2go communities across its 15 locations and over 400,000 members in North America to work together in donating to a charitable cause, and will first kick off with a 90-day partnership with Whole Planet Foundation as the program's first exclusive charity.

Lamborghini Countach, Ferrari 512M and more immortalized as Lego sets

Lego has announced a slew of new Speed Champions sets, the ones based on actual licensed cars, for 2022. The latest batch includes a smorgasbord of supercars, from beloved classics like the Lamborghini Countach to yet-to-be-released promises like the long-awaited Mercedes-AMG One. There are seven cars in total, released in five sets.  Our favorite is probably the 262-piece Lamborghini Countach, based on a later LP500 variant. Not only does it tick the box of a childhood dream machine, but the angular shape of the real-life Countach lends itself well to being recreated in Lego bricks. Also, it's modeled in white rather than the typical red. Lego Speed Champions Ferrari 512M 1 View 6 Photos We also really dig the Ferrari 512M. It marked the last of Ferrari's V12 endurance racers, and even though it was soundly spanked by the Porsche 917, the cars are undeniably beautiful. The 291-piece Lego set does a great job of capturing its brutal wedge silhouette in brick form. Lego Speed Champions Lotus Evija 1 View 5 Photos Rounding out the single-car sets is the 247-piece Lotus Evija. The electric Lotus has a bit of a generic supercar look about it, but that's not entirely the fault of the Lego kit. Its dramatic vents can't really be replicated with the limited "resolution" of the Lego bricks. Its rear, with unique taillight-encircled air tunnels, is a bit more distinctive. Lego Speed Champions Aston Martin Valkyrie AMR & Vantage GT3 1 View 7 Photos In addition to the single car sets, there are two larger sets of two cars each. One is a 592-piece Aston Martin-themed pack that includes the Valkyrie AMR Pro and Vantage GT3. Again, it's a bit difficult to sculpt the cars' curvaceous lines out of straight-edged bricks, but the effort is admirable. The Valkyrie is probably the more successful of the two, as the Vantage would resemble a Corvette or Viper if it didn't have stickers to clarify the details. Lego Speed Champions Mercedes-AMG F1 W12 E Performance & Project One 01 View 9 Photos Last but not least is a twofer comprised of 564 bricks to build the Mercedes-AMG One and seven-time Formula 1 world champion Lewis Hamilton's W12 racer. In Lego's official product description the driver is not mentioned by name, but the number 44 gives it away. The model of the One indeed looks like a sharp supercar, but the blocky pieces don't exactly replicate the lines we've seen on camouflaged test mules.