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8 new cars that are selling below MSRP

Car shopping has been a frustrating activity for many people in recent years, as strained new car inventories have led to markups and elevated prices across the board. It’s been difficult to find vehicles at anywhere near a reasonable price, and some in-demand models are still listed at a premium today. iSeeCarsÂ’ most recent study looked at several aspects of the new and used vehicle markets and found a handful of models that are selling at a discount – a rarity in todayÂ’s world. Most of the vehicles selling below MSRP in October were electric, though the Nissan Armada and Infiniti QX80 made the top eight. To be clear, weÂ’re not talking about huge discounts here – the Kia EV6 was selling with the largest discount of 3.1%. The other models on the list include: Kia EV6: -3.1 percent off MSRP Ford F-150 hybrid: -2.8% Hyundai Ioniq 6: -2.7% Nissan Armada: -1.8% Hyundai Ioniq 5: -0.9% VW ID.4: -0.6% Kia Niro EV: -0.3% Infiniti QX80: -0.2% Electric and hybrid vehicles like the Kia and Ford have been selling at a premium for a long time, as they experienced stronger than expected demand and had challenging early production runs. That theyÂ’re now selling at a discount could indicate wavering buyer demand, but itÂ’s too early to start sounding any serious alarm bells. Though some models are getting cheaper, the industry average is still heading in the wrong direction. The average MSRP of new cars sold last month was $42,510, while the average sales price was $46,077. That 8.4% overage is surprising to see so many months after the worst of the pandemic has passed. iSeeCarsÂ’ executive analyst Karl Brauer had a few words of encouragement, however, saying, “There are still very few ‘dealsÂ’ in the new car market. Shoppers looking to pay below MSRP for a new car will have to do their research, but a small number of models can be bought below sticker price.” Green Ford Hyundai Infiniti Kia Nissan Volkswagen Car Buying cheap cars

Tesla exec calls rival EVs 'little more than appliances'

Tesla's Vice President of Business Development Diarmuid O'Connell called the company's competition "little more than appliances" at the Center for Automotive Research's Management Briefing Seminars in Traverse City, MI yesterday. "In essence, [mainstream automakers] delivered little more than appliances," O' Connell said. "Now, appliances are useful. But they tend to be white. They tend to be unemotional." According to Automotive News, O'Connell's main critique is that vehicles like the Nissan Leaf and BMW i3 don't deliver enough performance or range to draw the attention of consumers outside of a small group. The solution, in O'Connell's mind, is more power, more range, more excitement and a lower price – that last point is particularly rich coming from an automaker whose cheapest current offering, the Model S 60, costs $66,000 – although the cheaper Model 3 is on the horizon, way out there, somewhere. But some EVs are better than none, O'Connell added. "On balance, I'm happier that [traditional automakers are] doing these cars than not," O'Connell said. "I just wish they would do them better and faster." O'Connell also used his appearance at the Management Briefing Seminars to launch a volley at the Michigan legislature, blaming its opposition to Tesla's direct-sales model for the lack of available EVs in the Wolverine State. "I think if the Michigan Legislature would allow Tesla to sell cars in Michigan, we could probably address [the lack of available electric cars]," O'Connell said. Related Video:

Hyundai now on the electric offensive to catch up with Tesla

SEOUL — Hyundai, an early backer of hydrogen cars, has watched the electric rise of Tesla, including on its home turf. Now's it's going on the offensive in the battery-powered market led by its U.S. rival. The South Korean company plans to introduce two production lines dedicated to electric vehicles (EVs), one next year and another in 2024, according to an internal union newsletter seen by Reuters. Euisun Chung, leader of the Hyundai Motor Group conglomerate that also includes Kia Motors, has also held a series of meetings since May with his counterparts at Samsung, LG and SK Group, which make batteries and electronic parts. The purpose of the talks, which were publicly announced, was for Hyundai to try to secure batteries at a time of tight supply as the race for EVs intensifies, according to several industry sources. Those manufacturers also supply the likes of Tesla, Volkswagen and GM. Hyundai told Reuters it was collaborating with Korean battery suppliers "to scale up" its electric car production efficiently. It declined to comment on any plans to introduce dedicated production lines. Samsung, LG and SK declined to comment. The moves indicate the carmaker is moving aggressively to expand its electric capacity, days after Chung announced on July 14 that Hyundai Motor Group aimed to sell 1 million battery EVs a year and grab a global market share of over 10% by 2025. There's some way to go; Hyundai Motor Group sold 86,434 battery EVs last year, according to data from industry consultant LMC Automotive. That was above the 73,278 sold by Volkswagen Group but behind the 367,500 delivered by Tesla. Hyundai, the world's No.5 automaker together with Kia Motors, said its agility allowed it to lead the charge into EVs. "We are certain Hyundai is never going to fall behind," it added. No Kodak moment A senior Hyundai insider, who declined to be identified because of the sensitivity of the issue, said the company had not been concerned about Tesla when the Silicon Valley company was producing high-end cars. But it became more worried when Tesla brought out a cheaper Model 3 in 2017, according to the insider, who described it as a "strategic victory." No traditional automaker has been successful yet in catching up with Tesla, which retains an edge in battery and software technology.