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Auto blog
Kia says fewer than 30% of its dealers will get 2015 K900
Fri, 28 Feb 2014Kia is moving into unknown territory with its $60,000 K900 luxury sedan in many ways. Not only will it act as the company's flagship model, it will be the Korean brand's first in the US with rear-wheel drive and a V8 engine. The first batch will hit showrooms in March, but according to Edmunds, it will be a soft launch in some ways, because only around 30 percent of dealers have paid a premium to sell the plush ride.
Kia has sent the selected dealers back to school to make sure they are prepared to sell the K900 to the industry's famously finicky luxury sedan buyers. The company believes its flagship model will be "a catalyst in support of our long-term strategy to elevate the ownership experience," said James Hope, Kia's National Manager for product communications, to Autoblog in an email. According to Edmunds, the dealers paid about $30,000 each in required training, tools and showroom displays. It wants the improvements to "shift the culture" in its dealers to be ready to welcome luxury buyers, according to Hope. Kia Director of Public Relations Scott McKee told Autoblog that the brand expects buyers to be "independent thinkers" from a blend of current Kia owners stepping up to the K900 and conquests from other luxury brands.
Kia has been slowly building awareness of the K900, especially with its Super Bowl ad, but it still has a long road ahead of it to prove what makes it crown jewel different. The company believes more dealers will sign up to sell it once public awareness for the new sedan grows. "There has never been a better time to challenge the status quo," said Hope. Also, a V6 model will launch in the future at a lower price, which should bring more people into the updated showrooms. Given what Kia has accomplished in the US in the last 20 years, it would be foolish to count the K900 out, but that doesn't mean it will be easy to break into the luxury sedan market.
Average new-vehicle transaction price hits a whopping new peak in December
Wed, Jan 11 2023Elevated 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.
2018 Kia Stinger GT Long-Term Review Update | A romp in the snow
Tue, Jan 22 2019After driving a slew of family sedans and crossovers, I was excited to take home our hard-charging, corner-craving 2018 Kia Stinger long-term car for a weekend of some sports car fun. Then Saturday came, bearing between three and four inches of snow and single digit temperatures. Lovely. But, the weather did offer an opportunity to put the Stinger through its first serious snow of the season, as well as the snow tires Nokian generously donated to us. And the big sedan hatchback did fine in the snow, but not exceptionally well. I appreciated the extra traction from the front wheels, which helped make crawling out of the deep snow in my driveway and accelerating through corners and at intersections easier. I didn't have much trouble breaking the rear wheels loose, either, confirming that the Stinger does indeed have a rear-wheel bias. Fortunately, it was pretty easy to control when the car would break traction, but it was easy enough that it felt as though the all-wheel-drive and traction control weren't doing much to optimize traction until the car really got loose. Then the traction control would quickly bring the car to a crawl to stabilize it. Cornering and braking were just OK, and it seemed to mostly be hampered by the Stinger's roughly 4,000-pound curb weight. I could feel that the car really wanted to keep forging straight ahead, and if I turned too fast or braked too late, it would take its opportunity to do so. Naturally this applies with any large vehicle, but it still feels surprising considering how agile the Stinger is on dry pavement. I hate to think what it would have been like driving the Stinger without the snow tires. On the low-profile all-seasons, I'm sure the traction control would be having conniptions, and I'd be crawling through corners and up to stops. Leaving my driveway probably would have taken a few forward and back attempts, too. Aside from the driving experience I was immensely grateful for the heated seats and steering wheel, both of which seemed to warm up quickly. Boy, though, I sure wish the Stinger had remote start. I'm sure it's not great for the environment, but oh how I wish I could have stepped out the door to an already toasty cabin this weekend. So there you have it. The Stinger GT definitely loses a lot of its fun character in the snow, but it will get you through it. And when things clear up, you'll be happy to have something sporty on hand.