2014 Kia Optima Ex on 2040-cars

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Kia GT4 Stinger concept headed for Detroit with 315 rear-drive horsepower

With reveals expected to include the 2015 Ford F-150, the new Chevrolet Corvette Z06 and the high-strung Lexus RC F performance coupe (among many others), there are plenty of vehicles we're looking forward to seeing at the Detroit Auto Show. But now, with a rendered teaser image and short press release that includes some savory details, Kia may have just hit the top of our list with its GT4 Stinger Concept. Not even looking at the above image (which you can click to enlarge), Kia managed to grab our interest with just one sentence in said release detailing the car's powertrain: "A turbocharged 2.0-liter that pumps 315 horsepower to the rear wheels."
This low, wide concept has the face of a Kia-fied Audi R8, but the previous teaser stated that the concept will be a 2+2 hatchback. There is little other information to go on, but we'll see the concept car live in just 10 days. Until then, scroll down for the brief press release.

Car buyers are paying big money for technology they don't use

J.D. Power released the results of its Tech Experience Index study that measures "how much owners like [in-car] technologies and how many problems they experience with them." Among the study's findings, automakers are loading vehicles with more software and digital experiences that owners claim they never learn how to use or decide they don't need. For example, owners report to J.D. Power that gesture controls, like those used by BMW (spinning a finger, for instance, can raise or lower the audio volume), don't improve the overall ownership experience. In fact, gesture controls received the lowest overall satisfaction score in the study for a second consecutive year. In another example, the study found that 61% of owners claim never having used "in-vehicle digital market technology," while 51% of respondents said they didn't need it. Driver/passenger communication technology was another sore point with users, with 52% saying they have never used the technology, and 40% of those saying they have no need for it. (10 Features owners say they want, and 7 they really don't). Conversely, some technologies are well received by owners. For American owners, rear-view cameras and so-called "ground view" cameras were among the top three desired technologies. We assume that "ground view" is a surround-view or 360-degree camera system. The one-pedal driving possible in a number of EV's with adjustable regen braking also scored very high marks and few claimed issues.  While it could be argued that owners who don't want to use a specific piece of technology should just avoid using it, the reality is that all of these unused features add cost to the final price of any vehicle. Considering that the average transaction price of a new vehicle hit a record $45,031 in September of 2021, controlling spiraling costs is a big deal. J.D. Power's survey results found that dealerships can play a big role in explaining new technology to buyers. Scores for some technologies like trailer assistance received higher scores from owners who received training from their dealers. Unfortunately, 71% of owners say they were taught how to use tech from outside sources whereas only 30% learned from a dealer. The results of this study are the product of responses from 110,827 owners of current model-year vehicles that J.D. Power surveyed after 90 days of ownership from February through July 2021.

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.