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LeBron James to rep Kia K900

"I was a Kia K900 driver and fan before we decided to become partners, so I'm really excited to be Kia's first-ever luxury ambassador." - LeBron James
LeBron James is taking his talents to Kia.

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 bringing Habaniro concept to New York Auto Show

Hyundai and Kia have a full docket planned for the New York Auto Show. We know Hyundai's bringing the Venue subcompact crossover for "urban entrepreneurs," Kia will debut a compact crossover originally conceived for the Indian market. and across the luxury aisle, Genesis will pull covers off an electric show car and the U.S.-market G90. Seems Kia has something else besides: Just Auto says Kia's NY debuts will include the Habaniro concept, and Carscoops caught a photo of it in a NY show newsletter. The misspelling of Habanero, from the same company responsible for the Sorento and Mohave, must be intentional and might make family ties to the Kia Niro. Just Auto says the small, squat crossover is about the size of the Niro, yet the zesty Habaniro concept separates itself from the tapioca Niro in numerous ways. The barricade front end dispenses with the brand's tiger nose grille in favor of a stylized brace that connects both fenders above a husky skid plate. A thin LED breaks into several angles across the fascia to break up the expanse of black brace and banded grille. Based on the front end alone, we wouldn't be surprised if the Habaniro ended up in the next " Tron" franchise installment. Whereas the Niro's a four-door, the Habaniro concept believes three doors is enough, the passenger portals on the side featuring flush door handles that span the door shutline. The glasshouse is cut short aft of the doors to make room for a red slash running from roof to wheel well, a graphic that reminds us of the 2013 Peugeot 308 R concept. From there, cue the requisite enormous wheels, clad in beefy all-terrain rubber. Also notice the lack of side mirrors. We can't wait to find out what this is about. Just Auto had one last tidbit on the compact Kia crossover we knew about before. The name Tusker has been mooted as the global moniker, it seems Trazor could also be in the running. The new offering will slot in below the Sportage and Niro, above the Soul.