2012 Kia Sportage Lx Sport Utility 4-door 2.4l 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.

Kia reportedly plans to increase production of Telluride SUV

A new report from overseas says that Kia will increase production of the new Telluride SUV to 100,000 units due to strong demand for the three-row hauler in the U.S. Korean news site Motor Graph reports the decision was announced on a conference call at Kia’s headquarters in Seoul; Autoblog has sought confirmation from a Kia spokesman. The news comes on the heels of word that the Telluride, along with its corporate sibling the Hyundai Palisade, were getting some minor price increases, the second for both, with the Telluride starting at $33,060, including destination, after launching at $32,735. ItÂ’s also the latest sign of the popularity and positive reviews of the Telluride, which went on sale in March of last year. The Telluride just won the title of 2020 North American Utility of the Year, vanquishing the Palisade and the Lincoln Aviator, and itÂ’s earned a slew of other honors from automotive publications and organizations. Kia builds the Telluride at its plant in West Point, Georgia and sold 58,604 models in the less than eight months it was on sale in 2019, with an established clip north of 6,000 per month by yearÂ’s end. Recent rumors have suggested Kia could be planning a range-topping trim level, complete with fancy new interior colors and an off-road package that could push the Telluride toward the $50,000 mark. Kia also plans to launch the compact Seltos crossover during the first quarter of this year. Meanwhile, corporate sibling Hyundai also launched the Palisade three-row ‘ute in 2019, one of two new Hyundai nameplates last year along with the compact Venue crossover, which launched in November. From its launch in June through December, the Palisade posted sales of 28,736, with steady month-over-month increases. A Hyundai spokesman said he had no information to share about production plans but said the Palisade was seeing good demand from car buyers. The Palisade is built in Ulsan, South Korea for the U.S. market. Related Video:

2020 Kia Soul First Drive Review | FUNky

It's hard to believe, but the Kia Soul first went on sale a decade ago, hitting the market for the 2010 model year to challenge the new-to-America Nissan Cube and the wheeled box pioneer Scion xB. We're not sure, of the three, we'd have put our money on the Soul to outlast the rest, but here we are. The xB and Cube are long dead, and the Soul is on its third-generation, ready to take on the latest crop of subcompact crossovers that have replaced the old boxes. The new generation is completely redesigned from the ground-up, sporting bold but recognizable looks. Under the skin is a new standard engine, and the lineup features additional trim lines, each with unique styling. We tried out two versions of the new Soul, the crossover-inspired X-Line with a new naturally aspirated 2.0-liter engine, and the sporty GT-Line with the optional turbocharged 1.6-liter engine. What we discovered was a spunky, funky hatch that's a great choice all-around in one guise - and a questionable choice in another. Kia Soul X-Line The Kia Soul X-Line is roughly a mid-level model, starting at $22,485, and it features the powertrain that the vast majority of Souls will have: a 2.0-liter inline-four making 147 horsepower and 132 pound-feet of torque coupled to a CVT. That's a $4,000 step up from a base, manual LX, and the price difference is attributable to styling tweaks – plastic fender flares and silver-painted trim meant to evoke skid plates – plus the addition of blind-spot warning and rear cross-traffic warning. Despite the quasi-crossover looks, there's no extra ground clearance nor the option of all-wheel-drive. We don't think most buyers will mind, too much, since most Souls will probably never leave pavement anyway. The four-cylinder engine is about par for the segment. Acceleration is sluggish with plenty of noise, but throttle response is snappy, and the sounds it does emit is pleasantly growly. Fuel economy for most CVT-equipped Souls comes in at 27 mpg in the city, and 33 on the highway, which matches the old naturally-aspirated 1.6-liter model's city economy and improves on the highway by 3 mpg. That puts it ahead of the Toyota C-HR and tied with the CVT-equipped Subaru Crosstrek. The EX version of the Soul manages an impressive 29 mpg in the city and 35 on the highway, coming close to matching the Nissan Kicks that gets 31 mpg in town and 36 on the highway. Choosing a manual in the Soul brings fuel economy down to 25 in the city and 31 on the highway.