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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

Kia unveils SP Signature concept at Seoul Motor Show

The Seoul Motor Show is alive and kicking, and Kia has used its home event to display two new concepts. One is the Mohave Masterpiece large SUV, which is what our Borrego could have become if the Borrego hadn't been sent to slaughter in 2009 after just one year on sale here. The other concept is the SP Signature, said to preview a compact crossover Kia will sell around the world starting later this year. The four-door is a toned-down, more production-ready version of the SP concept unveiled at India's Auto Expo last year. The car's a bit of a cryptid, with few facts and plenty of fuzzy details to go on. The SP Signature concept apparently began as an Indian-market product, then morphed into a worldwide offering. Kia said the "SP Concept hints at the company's plans to introduce a new small SUV for its global markets," but that "hint" has already been confirmed; Kia Motors CEO Han-Woo Park told Automotive News last October that the U.S. would get a new compact crossover in late 2019, and a prototype matching the Signature's profile has been spotted testing. Slotting in below the Sportage and about the size of the Hyundai Kona, the reported retail name is Tusker, but we aren't sure that name will apply here. Although the Signature evokes Kona vibes, detailing makes the Signature look more technical and hawkish than the Kona, which we like. Rumor also has it that the so-called Tusker won't include all-wheel drive as an option so as to leave daylight between it and the Sportage. Several outlets have posited a debut at the New York Auto Show, partly because the N.Y. show put out a press release listing Kia as one of the automakers with a world debut. That press release has since disappeared, and with Hyundai having announced the even smaller Venue crossover for New York, it's possible Kia could have to give way to big brother.

Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.