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Hyundai will launch 26 green models through 2020

Hyundai Motor Group, which comprises both Hyundai and Kia, believes that launching a blitz of 26 green models through 2020 could place the Korean automaker among the leaders in the segment. Only Toyota would be larger in the electrified vehicle market, if Hyundai Motor's plan works, Automotive News reports. The 26 models run the gamut of the green car field, and they include at least 12 hybrids, six PHEVs, two EVs, and two hydrogen fuel cells, according to Automotive News. If customers latch onto them, Hyundai and Kia could move as many as 300,000 electrified vehicles a year by 2020 versus about 43,000 in 2015. Kia is responsible for at least 11 of these vehicles like the upcoming Niro crossover. Meanwhile, Hyundai wants the upcoming Ioniq (above) to challenge the Toyota Prius, and the Korean company has hybrid, PHEV, and EV versions on the way. To save money on the development of so many electrified vehicles, Hyundai Motor uses shared components. "For example, all our electric motors have the same diameter," Lee Ki-Sang, Hyundai's green powertrain boss, told Automotive News. "The power output is different, but we can just adjust the width of the core winding. Or for the motor controller, we standardized to use the same printed circuit boards." Trying to go from a relatively small player to a market leader is an audacious move, but it's especially risky right now. Gas prices are the cheapest in 12 years in the US, and green car sales are down in the US and in Europe. Toyota even predicts the inexpensive fuel could cut into Prius sales, and it's far more established than Hyundai's models. The South Korean company could have an even tougher time because these efficient vehicles still lose money for now. "Our target is before 2020, we would like to make profits on these eco-friendly vehicles," Lee told Automotive News. Related Video:

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.

2019 Kia Forte First Drive Review | Slow, but steady

PITTSBURGH, Pa. — Kia is in the midst of an sea change. The Stinger's release has shifted the brand's focus away from simply being rebadged Hyundais, giving the Korean automaker a new identity. The Soul and Niro have been solid and unique products, but one or two cars aren't enough to move the needle, especially in the eyes of the public. Our long-term 2018 Kia Stinger GT is a fantastic car, but it still gets plenty of "that's a Kia?" comments out in public. If Kia wants to reinvent itself in this new image, every product is going to have to look and feel as if it was cut from the same cloth. For 2019, the Kia Forte is entering its third generation, having debuted a decade ago as replacement for the Spectra. Like the previous two models, the new Forte shares more than a little with its corporate sibling, the Hyundai Elantra. Kia claims the Forte is more than just an Elantra with handsome new sheetmetal, with some minor updates and changes underneath the skin. There are some allusions to the Stinger in the Forte's design — thin, sweptback headlights, a wide lower air intake up front and full-width taillights in the rear. Both cars are also sprinkled with a number of black accents. It's clean and more distinctive than the recently refreshed but still conservative Elantra. The Forte's interior is less Stinger and more Optima — not quite as bold as the exterior might suggest, but purposeful. There are the practical details that make a difference: small spaces for your phone, sunglasses and more. The Honda Civic offers more, but the Forte is near the top of its class. Like the Elantra, the Forte's seats are comfortable and well positioned, though I do wish there were a little more thigh bolstering. Base models come with cloth, though heated and ventilated leather seats are standard on the top-tier EX trim. The EX also comes with two USB ports and an optional wireless charger. Fit and finish are impressive, too. There was nary a rattle or panel gap to be found. Kia's focus on improved noise and vibration was immediately evident, too. Both wind and road noise were both mild, with just a little bit of sound coming from the car's A-pillars. The chassis has been stiffened significantly compared to the Elantra, and it definitely comes across on the road. The overall impression inside is that it looks and feels as well-built as anything coming from Japan and better than some of the Americans. Unfortunately, things aren't quite as rosy when you get moving.