2013 Kia Forte Ex on 2040-cars

Auto blog

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 reveals images of updated ’Mohave the Master’ SUV

Kia on Wednesday released the first images of a heavily refreshed full-size SUV, calling it the “Mohave the Master.” ItÂ’s heavily based on the Mohave Masterpiece Concept that Kia rolled out at the Seoul Motor Show in March, and reports suggest the company plans to launch the SUV in Korea in September. The Mohave is the overseas brethren of the short-lived Borrego, a body-on-frame, offroad-capable SUV that was sold in the U.S. and pulled after two model years and negligible sales. As was the case in March, thereÂ’s no information about the new vehicle beyond photos, leaving us to speculate. But the Master carries on most of the Masterpiece ConceptÂ’s styling, if somewhat toned down, with its boxy design, raised profile and upright body. The Master features the same matching head- and taillight design as the concept, plus the illuminated Mohave nameplate on the tailgate. The stacked LED headlights and fog lamps also carry over from the concept, although much of the chrome trim appears to have been cut from production plans. Also similar: ThereÂ’s no Kia badge anywhere to be seen, which is interesting. Skid plates at front and rear, along with the 4WD logo on the tailgate, add to the suggestions that this SUV is capable of being taken offroad. Kia eventually replaced the Borrego in the U.S. with the Sorento family hauler, but it lived on in Korea and other markets. The Borrego had the misfortune of being released in 2008 as a gas-guzzling ‘ute with the Great Recession raging and gas prices hovering around $4 per gallon, pushing consumers toward smaller, more fuel-efficient options. It also won no plaudits for its looks. Our 2009 review noted, “The new Borrego breaks no new ground in terms of styling” and added that, given the unforeseen spike in gas prices at that time and its effect on SUV sales, “Kia will likely be happy if it can just eke out enough sales to break even on the project.” The new Mohave is undoubtedly more handsome and sculpted than the bland Borrego, looking like a beefier, more imposing version of the Telluride. Rumors have swirled that the Mohave will eventually return to the U.S. If that's true, weÂ’ll have to wait to see whether itÂ’s with this version or a future update.

Kia Futuron autonomous, electric concept has scales and UFO design

Although the Kia Futuron Concept is styled and literally named to suggest a prospective automobile, it checks all the market trend boxes of right now. It's styled like a crossover coupe. It has all-wheel drive. It's electric. And it is said to have Level 4 autonomy. Oh yes, and it lights up, too.  Unveiled at the 2019 China International Import Expo (CIIE), the Futuron's name is technically two words put together, according to Kia: future and on. "On" is apparently meant to hint at "switched on," as in an electrical switch. Or just consider it Megatron's cousin. The Futuron is about 191 inches long, 61 inches tall, and has a 118-inch wheelbase. For reference, a Kia Stinger is 190 inches long, 55 inches tall, and has a wheelbase of 114.4 inches. Kia says it used a 360-degree design that is inspired by UFOs and flying saucers. A central eye-drawing crease starts at the new interpretation of the "Tiger Nose," disappears in the front wheel arches, and picks up again at the door, where it continues along the body and circles around the rear. The glass canopy roof is diamond-shaped and offers a unique airy design that extends beyond the dashboard. Kia says it wants its future designs to be "confident, sporty and modern, yet also elegant."  One of the key features of the Futuron is the evolutionary "Tiger Face." The headlights and front fascia of the car blend together, thanks to "Star Cloud" lighting. Kia says it pulls from the nebulae in space to create the geometric Matrix lighting. It also uses a "Dragon Skin" surface that mimics scaled armor on mythic Chinese dragons. A kinetic surface allows the car's scales to open and close to reveal daytime running lights or headlights, depending on the time of day. Hypothetically, the Futuron is powered by four in-wheel electric motors, which are fed by a battery beneath the floor of the cabin. Four motors means electric all-wheel drive, which will deliver "lightning-fast responses to driver inputs." Furthermore, sensors, radar, lidar, and cameras make the Futuron capable of Level 4 autonomous driving, which allows the driver to be completely free of road attention or guidance, for the most part. The steering wheel even retracts. Inside, the autonomous capabilities allow for a more flexible design. The Futuron has seats that can be switched between driving or zero-gravity reclining.