2013 Kia Sportage Ex Awd on 2040-cars

Auto blog

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 unveils Horki sub-brand in China, kicks off with concept car

While we were busy ogling new vehicles like the Mercedes-Benz GLA Concept, Maserati Ghibli and Hongqi L9 at the Shanghai Motor Show, Kia was busy unveiling an entire brand. Through its Chinese joint venture, Dongfeng Yueda Kia (or DYK), the South Korean automaker has introduced its new Horki sub-brand and a concept car, simply called the Horki Concept.
The name Horki comes from the combination of two Chinese characters "Hor" and "Ki," which translates to "China driving." As this suggests, the brand will only be offered in China, and this concept sedan shares its platform with the 2014 Kia Forte. We didn't happen to catch the car live at the auto show, and apparently neither did Kia, since it only provided us with some drawings rather than live (or even studio) shots of the actual concept car. Thankfully, our friends at Newspress managed to ferret it out, so we have a couple of live pics to share after all.

2020 Kia Soul teased ahead of L.A. Auto Show debut

We've seen Kia Soul prototypes in spy shots a few times now, and they've all been carefully covered up. This often means that we'll be waiting awhile before the car is revealed, but that's not the case with the Soul. It's coming to the L.A. Auto Show in just a couple of weeks, and Kia released a teaser to announce the reveal. The teaser shows the rear pillar from the side. As expected from the prototypes, the Soul retains its boxy design. It also has the upswept rear windows that create a very thick rear pillar. The new Soul does adopt the popular floating roof design, created in this case by a matte-black plastic piece in which the Soul logo has been embossed. The taillight's overall design is similar to the current model, with it rising vertically along the rear pillar. But it looks as though it may wrap around the top of the roof now. As we've seen from spy shots, the new Kia Soul will adopt some other interesting design cues. The aforementioned taillights also extend inward into the rear hatch. The headlights at the front feature a slim, full-length portion up top that appears to only have the running lights. Below are large light pods that, like on the Hyundai Kona, probably house the actual forward-illuminating lights. Kia confirmed in the teaser that it will offer versions of all the current Soul models with this new generation. That includes the base-level models, the sporty Turbo model, and the electric Soul. We've seen these iterations testing. The Soul Turbo looks aggressive with a new center exhaust outlet. The Soul EV has many blocked-off grilles like so many electrics, but more interesting is that a display inside the car suggested it will have a range of over 200 miles, similar to the Niro EV. We'll have all the details when the Soul makes its debut at the L.A. Auto Show, so stay tuned. Related Video: Image Credit: Kia Green LA Auto Show Kia Crossover Hatchback Economy Cars Electric kia soul ev