2014 Kia Cadenza Limited on 2040-cars

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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 K900 flagship sedan debuts: Reserved luxury reimagined

After those teasers and brochure shots, the 2019 Kia K900 flagship sedan is here in the metal, presented at the New York Auto Show. Kia reminds us that the only thing carried over from the old car is the name, but the car's design is still reserved rather than ostentatious. The information withheld in Kia's K900 news to date was the available powertrain, but it's now announced to have the same 3.3-liter twin turbo V6 as the Stinger. It produces 365 horsepower and 376 pound-feet of torque, and it's paired to an eight-speed, homegrown automatic transmission like in the Stinger. The V6 is the sole engine choice, and likewise the K900 has torque-vectoring all-wheel-drive as standard. The previous generation car was rear-drive, and the Stinger has rear-drive variants, but for the new K900 it's AWD all the way. The system can distribute up to 50 percent of power to the front and as much as 80 percent to the rear. Kia performance chief Albert Biermann says the new K900 is 33 percent stiffer than the outgoing car, for improved ride and handling. In its home market, the K900 will reportedly be available with a five-liter V8, but that's not part of the U.S. portfolio. Inside, the K900's cocoon-like leather and wood interior ambience can be enhanced with its Pantone-assisted mood lighting system. There are seven color settings, which are meant to convey the feel of oceans, forests, skies — and presets can even imitate the aurora borealis. Another feature of the interior lighting is that proximity sensors can brighten the dashboard controls by 20 percent when the driver reaches for the switches. The 12.3-inch HMI touchscreen supports Apple CarPlay and Android Auto, and the car's settings can be toggled using a bespoke UVO telematics system. Four cameras provide the driver with a stitched-together 360-degree view of the car's surroundings, and HUD is an option. Driver assists include smart cruise control with lane functions and a driver fatigue monitoring system. In addition to the K900, Kia is also introducing the refreshed-for-2019 Optima and Sedona. The facelifted Optima now comes with optional two-tone sport leather seats, and it shares some of the K900's driver assist systems as standard: collision avoidance and warning, lane keeping assist and driver fatigue monitoring.

2018 Kia Stinger GT Long-Term Review Introduction | A brand new day

Kia has come a long, long way since it entered the U.S. market back in the mid '90s. Initially, the Korean automaker was known for affordable economy cars with questionable reliability and a distinct lack of charisma. That's no longer the case. Kia turned its reputation around, building solid if slightly sedate cars and crossovers with handsome styling and one of the best warranties in the industry. Our new long-term 2018 Kia Stinger GT is the automaker's first real attempt to inject some life into the brand. The Stinger's development was helmed by some genuine all-stars. The design was led by Peter Schreyer — the man behind the original Audi TT — and Gregory Guillaume at Kia's European design studio. Engineering was handled by former BMW M Vice President of Engineering Albert Biermann. Biermann is now leading the way at Hyundai's N division. The end result is a front-engine, rear-drive sportback tasked with putting to rest Kia's budget-car image. The automaker has made no secret about targeting models like the Audi A7 and Porsche Panamera. What we got The Stinger comes in two flavors. The base model comes with a 2.0-liter twin-scroll turbo four-cylinder producing 255 horsepower and 260 pound feet of torque. We opted for the more powerful Stinger GT and its 3.3-liter twin-turbo V6. That engine — shared with models from Genesis — makes 365 horsepower and 376 pound-feet of torque. Both engines are mated to an eight-speed automatic. While rear-wheel drive is standard, we opted for all-wheel drive ($2,200) to better deal with Michigan winters. Our car comes in Hichroma Red with a red interior. Leather is standard on every Stinger model. A base GT starts at $39,250 and comes with LED lighting, 19-inch wheels with summer tires and Brembo brakes. Our GT1 package comes in at $46,350 and adds niceties like a sunroof, a Harman Kardon audio system and a heated steering wheel. Other features include dual-zone climate control and power-adjustable front seating. We added cargo mats and a cargo tray in the rear, bringing the total to $46,620. Why we got it Kia and Hyundai are working hard to move past their budget-car roots. In general, both companies are producing vehicles that no longer have to sell on value alone. For a while, Kia's lineup consisted mostly of vehicles that were closely related to a Hyundai counterpart, with sharper styling but few points of real differentiation.