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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.

Race Recap: 2013 Japanese Grand Prix flips several scripts [spoilers]

Japan's Suzuka circuit is a great track that all the drivers love, but it doesn't usually provide the most thrilling, head-to-head racing. Where it does excel, however, is with surprises and "What just happened there?!" moments, and this year it was no different.
It started with Mark Webber in his Infiniti Red Bull Racing out-qualifying his teammate Sebastian Vettel for the first time this year. They were followed closely by Lewis Hamilton in the first Mercedes-AMG Petronas, the still-solid Romain Grosjean again outdoing teammate Kimi Räikkönen, Felipe Massa racing for another seat in Formula One and putting his Ferrari in fifth, then Nico Rosberg in the second Mercedes, Nico Hülkenberg in the first Sauber, Fernando Alonso in the second Ferrari, and Räikkönen continuing to do himself no favors by qualifying tenth.
For the second year in a row, the lights going out was the cue to start the first corner action...

Mercedes-Benz CLA stars in sweeping short with supermodel Karlie Kloss

The Mercedes-Benz CLA earned itself a spot on our list of the top five unveils of the 2013 Detroit Auto Show, and for good reason. The German luxury compact is the first small car from the Silver Arrow that looks suitably premium inside and out. Nowness.com has turned out a new video of the CLA featuring super model Karlie Koss in the lead role. We aren't entirely sure what the premise is, but from what we can tell, it looks as if the CLA comes to life and proceeds to be a giant jerk.
After Koss stops to take a closer look at a white horse, the CLA gives the supermodel the old stop-and-go treatment before leaving her on the side of the road. Eventually, the sedan makes nice, but Koss has to ride shotgun instead of taking the controls herself. You can check out the video below to see for yourself.