Up Nearly 2 Percent In December 2017, According To Kelley Blue Book

IRVINE, Calif., Jan. 3, 2018 -- The analysts at Kelley Blue Book today reported the estimated average transaction price (ATP) for light vehicles in the United States was $36,113 in December 2017. New-car prices have increased by $583 (up 1.6 percent) from December 2016, while climbing 66 (up 0.2 percent) from last month.  

"Average transaction prices closed the year on a strong note, rising nearly 2 percent in December 2017 to set a record high," said Tim Fleming, analyst for Kelley Blue Book. "Incentive spending was a concern in 2017, averaging 10.4 percent of MSRP, but encouragingly, this figure held relatively flat over the final quarter of the year. In 2018, interest rate hikes could be another concern, as they threaten to increase monthly payments for consumers; however, Kelley Blue Book anticipates they will help contribute to another down year of new-vehicle sales more than impact prices, which have steadily risen along with the economy since the recession."

Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year recipients awarded

LOS ANGELES, Nov. 28, 2017 -- MOTOR TREND today announced the Motor Trend award winners of the "Golden Calipers" for Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year. One of the most prestigious and sought-after honors by automotive manufacturers worldwide, the award winners were announced during a red carpet ceremony at a gala event featuring an audience of industry insiders and celebrity guests at the Petersen Automotive Museum in Los Angeles.

"We are thrilled to announce the best of the best in the industry," says Edward Loh, editor-in-chief of MOTOR TREND. "This year's coveted Car of the Year, Truck of the Year, SUV of the Year, and Person of the Year are being presented to some of the most well-deserving and innovative recipients we have had since the founding of the award in 1949."

Finalists this year were evaluated against six key criteria: safety, efficiency, value, advancement in design, engineering excellence, and performance of intended function. Judges for each program came from the MOTOR TREND staff and also included two special guest judges for Car of the Year (legendary car designer Tom Gale and product development guru Chris Theodore) and one special guest judge for SUV of the Year (auto engineering expert Gordon Dickie). The Person of the Year was chosen from MOTOR TREND's annual Power List of the automotive industry's 50 most influential people.

The details of the awards are:

Most senior drivers surveyed by the AAA Foundation are not taking advantage of simple, inexpensive features that can improve safety and extend their time behind the wheel

WASHINGTON, D.C. (Nov. 29, 2017) – Nearly 90 percent of older drivers do not make inexpensive adaptations to their vehicles that can improve safety and extend their time behind the wheel, according to new research from the AAA Foundation for Traffic Safety. Common vehicle adaptations like pedal extensions, seat cushions and steering wheel covers can help to improve safety by reducing a senior driver’s crash risk. Seniors aged 65 and over are more than twice as likely as younger drivers to be killed when involved in a crash. AAA urges seniors to consider making the necessary adaptations to their vehicles in order to reduce crash risk and extend the time they can continue to drive.

“While many seniors are considered to be safe drivers, they are also the most vulnerable,” said Dr. David Yang, executive director of the AAA Foundation for Traffic Safety. “Our research suggests that most senior drivers are not taking advantage of simple and inexpensive features like steering wheel covers that can greatly improve their safety and the safety of others on the road.”

The research brief, In-Vehicle Technologies, Vehicle Adaptations, and Older Drivers: Use, Learning, and Perceptions is the first phase in the AAA Foundation for Traffic Safety’s groundbreaking Longitudinal Research on Aging Drivers (LongROAD) project. Researchers are currently engaged in generating the largest and most comprehensive senior driver database in existence. This critical information will support in-depth research to better understand the risks and transportation needs of our aging population.

Incentives Spending on Track to Reach the Highest Level Ever

DETROIT, Nov. 27, 2017 --  For the seventh time this year, the new vehicle retail sales pace in November is expected to fall from year-ago levels, according to a forecast developed jointly by J.D. Power and LMC Automotive. The seasonally adjusted annualized rate (SAAR) for retail sales is expected to be 13.4 million units, down 300,000 from a year ago. Retail sales in November are anticipated to reach 1,119,600 units, a 0.1% decrease (selling days adjusted) compared with November 2016.

"The need to clear out record inventories of prior model-year vehicles continues to keep incentive spending aggressive in November," said Thomas King, Senior Vice President of the Data and Analytics Division at J.D. Power. New model-year vehicles account for just 44% of month-to-date sales compared with 53% in November 2016.  Average incentive spending per unit to date in November is at $4,065, just shy of the record $4,091 set in September.

"Savvy car shoppers took advantage of additional discounts over the Thanksgiving weekend, and that sales bump will likely push spending to a new all-time high," King said. Last year, retail sales after Thanksgiving accounted for 32% of November sales, while spending also subsequently rose by nearly 11% over the same period.

The national gas price average has been trending cheaper for 10 days. At $2.51, today’s price is three cents less than last Monday. On the week, 49 states are paying less at the pump for a gallon of regular gasoline. The District of Columbia and Hawaii saw their gas price increase by one cent. Prices have dropped between one and 15 cents elsewhere across the country.

“AAA expects to see gas prices trend cheaper through the year-end, decreasing as much as 20 cents for some motorists before year-end,” said Jeanette Casselano, AAA spokesperson.
Today, motorists can find gas for $2.50 or less at 63 percent of gas stations nationwide.

Quick Stats
The nation’s top ten states with the largest weekly decreases: Indiana(-15 cents), Ohio (-12 cents), Illinois (-10 cents), Michigan (-10 cents), Wisconsin (-6 cents), Kentucky (-6 cents), Missouri (-6 cents), Kansas (-4 cents), Nebraska (-4 cents) and Oklahoma (-3 cents).
The nation’s top ten states with the least expensive gas: Alabama ($2.23), Mississippi ($2.24), South Carolina ($2.24), Texas ($2.26), Arkansas ($2.27), Oklahoma ($2.27), Tennessee ($2.29), Missouri ($2.29), Virginia ($2.30) and Louisiana ($2.31).