2012 Kia Sorento Lx Sport Utility 4-door 3.5l 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.

Autoblog fan favorite car ads from Super Bowl XLIX

Super Bowl XLIX is in the books, and the New England Patriots emerged victorious. Of course, if you're like us, the big game wasn't so much about the battle between the east coast and west, so much as a fight between the world's automotive advertisers. We collected and collated all of last night's new ads and put them together for you to vote on. And yes, we're limiting this year's contest to last night's new features. That's why you aren't seeing Dodge's epic Wisdom among our collection of commercials, and it's a similar story with Chevrolet's Truck Guy Focus Group series, which highlights the new Colorado. You can still vote for your favorites. We won't be closing the voting on our Super Bowl page, so while the winners and losers are correct as of this writing, it's entirely possible that there could be some changes in the rankings as time goes on. So, without any further ado, here are the winning ads based on your voting. Nissan: With Dad Fiat: Ready For Action Jeep: Beautiful Lands BMW: Newfangled Idea Mercedes-Benz: Fable NASCAR: America Start Your Engines As for those ads that failed to impact you, loyal readers, Toyota was the absolute, undisputed loser. The Japanese brand ran four ads in total – two for Toyota and two for Lexus – and all of them have negative tallies as of this writing. Lexus' Make Some Noise and Lets Play and Toyota's One Bold Choice and My Bold Dad both had very weak showings among the commercials that aired, although they weren't alone. Neither Mazda nor Kia scored particularly well, despite featuring celebrity magic act Penn and Teller and former James Bond, Pierce Brosnan, respectively. Chevrolet was the winner of the losers, as of our writing, recording the fewest downvotes for its audience-punking The Big Game ad. If you want to take a second look at the losing ads, you can head back to our Super Bowl page for the complete collection. But for now, head into Comments and let us know what you think of the results.

Volvo, Kia and BYD duke it out in the finals for World Car of 2024

Three electric vehicles — none produced by an American manufacturer — will compete next month for the title of 2024 World Car of the Year, it was announced Monday. The finalists are the Kia EV9, the Volvo EX30 and the BYD Seal (shown above). The latter two are built in China. The three top finalists in five other categories were also named at the Geneva Motor Show in Switzerland. The winners in all six categories will be revealed live during an awards ceremony at the New York International Auto Show on March 27. This year marks the 20th year of the World Car Awards and the partnership with the New York show. Besides car of the year, the other finalists are: Electric vehicle: BMW i5, Kia EV9, Volvo EX30; Luxury car: BMW 5 Series/i5, Mercedes Benz E-Class, Mercedes Benz EQE SUV; Performance car: BMW M2, BMW XM, Hyundai Ionia 5 N; Urban car: BYD Dolphin, Lexus LBX, Volvo EX30; World Car Design: Ford Bronco, Ferrari Purosangue, Toyota Prius. Only Ford among U.S. companies has an entry in the final selections, and only in one category, design, for the Bronco. BMW has four vehicles in the finals, Volvo has three, Kia and Mercedes have two each. BYD from China has two entries as well. The Seal went on sale in in its home market in 2022 and is now available in most of the rest of the world. The BYD Co. (which stands for Build Your Dreams) has surpassed Tesla to become the worldÂ’s biggest maker of electric vehicles, and has its sights set on the U.S. The selection process for World Cars involves 100-plus automotive journalists from 29 countries who vote, as they review and test-drive the eligible vehicles for the 2024 awards. Their journey is captured virtually on World Car TV. Design/Style Geneva Motor Show BMW Ferrari Ford Hyundai Kia Lexus Mercedes-Benz Toyota Volvo Best Cars World Car of the Year