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Kia may produce all-electric version of the Niro crossover

Kia is considering producing an all-electric version of the Niro, the crossover vehicle that was the first from the South Korean company to be designed as a dedicated hybrid vehicle. Kia Motors operating chief Tae-Hyun Oh told the UK's Car Dealer magazine that the Niro's size, utility, and hybrid pedigree, along with stricter worldwide emissions mandates, may push the automaker to make a Niro EV. Kia, whose sister company Hyundai sells the hydrogen fuel-cell Tucson crossover in limited numbers, is also considering making a fuel-cell car in order to boost its green-vehicle pedigree further. Kia has sold more than 1,000 Niro hybrid vehicles since that model debuted in August. An all-electric Niro would be based on the same platform as the Kia Ioniq. That model has hybrid, plug-in hybrid, and battery-electric variants, reflecting what Kia said earlier this year was a three-pronged attack to broaden the Ioniq's exposure. The all-electric version of the Ioniq, which debuted in South Korea earlier this year and is slated to start sales in the US by the end of 2016, has a 28-kilowatt-hour battery pack that provides a single-charge range of about 110 miles. Currently, Kia sells an all-electric version of the Soul crossover. That model can go 93 miles on a full charge, though reports surfaced in September that the Kia Soul will get a refresh in 2018 that will boost its single-charge range in order to better compete with longer-range models such as the Chevrolet Bolt and Tesla Model 3. The Niro was first shown off as a concept model at the 2013 Frankfurt Motor Show, while a production version was unveiled at the Chicago Auto Show this February. Related Video: Featured Gallery 2017 Kia Niro View 18 Photos News Source: Car Dealer via Hybrid Cars Green Kia Crossover Electric kia niro

Kia slices K900 pricing amidst slow sales

Kia is learning the same hard lesson that Volkswagen learned so many years ago – it's not easy for a volume brand to sell a luxury car. The K900 luxury sedan has suffered through slow sales, moving just over 1,300 vehicles last year, and now the South Korean company is trimming the cost of entry to entice consumers. A new K900 Premium lowers the sedan's price by $5,000, from $59,500 to $54,500, not including a $900 destination charge, Motor Authority reports. While the price is lower, previously standard items, such as LED headlights, Nappa leather and a 17-speaker Lexicon stereo have been packaged as part of a new Luxury trim, which will maintain the original starting price. The two-tier scheme will force consumers to make a new decision about their K900, but that won't extend to the brute under the hood. A 5.0-liter V8 remains a standard item, making even the K900 Premium a tempting option for anyone that values straight-line thrust in a comfortable package. What are your thoughts? Is Kia merely rearranging the deck chairs on a sedan-shaped Titanic, or do you think trimming the price will do some good for the slow-selling K900? The new price is already reflected on Kia's consumer website, so head over, mess about and then come back and have your say about the move in Comments.

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.