2012 Kia Optima Sx T-gdi Factory Warranty Bluetooth Heated Cooled Seat Panoramic on 2040-cars

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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.

2019 Kia Sorento | Revised styling, more features, loses turbo-4 option

Apparently a diesel engine option will eventually arrive.

Kia teaming up with DUB to bring modified Stinger GT and K900 to SEMA

SEMA kicks off this week, so continue to look for all manner of modified cars, trucks and SUVs. For years, SEMA was ruled by aftermarket companies — it isn't called the Specialty Equipment Marketing Association for nothing — but in recent years, the automakers themselves have used the show as an opportunity to showcase a variety of fun but often garish modified vehicles. This year, Kia is bringing a pair of cars that appear to fall somewhere in the middle of the spectrum. All we have right now are a few teaser images of a bright blue Kia K900 and a silver over red and black Kia Stinger GT. Kia has teamed with DUB, one of the most famous aftermarket outfitters in the business, to design the vehicles. The K900 has been updated with gloss black accents, 24-inch wheels, a blue and black interior, air suspension and a "specially developed multimedia setup." We'll be disappointed if that doesn't mean TVs in the headrests. The Stinger GT will have 22-inch wheels, a custom intake and exhaust, air suspension and a redone interior. We won't have any other details until the cars are fully revealed at Kia's press conference, but stay tuned to the site this week for more SEMA coverage from Kia and other automakers and suppliers. Related Video: Featured Gallery DUB 2019 Kia Stinger GT: SEMA 2018 View 11 Photos Related Gallery DUB 2019 Kia K900: SEMA 2018 View 9 Photos Related Gallery Kia SEMA 2018 News Source: KiaImage Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Aftermarket Design/Style SEMA Show Kia Sedan kia k900 kia stinger gt kia stinger