2014 Kia Optima Sxl Turbo on 2040-cars

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Kia Optima Hybrid and Plug-In detailed ahead of launch

Kia wants to be a leader in the green car world in the next five years, and the global launch of the Optima Plug-in Hybrid (pictured above) is an early step in that $10.2 billion plan. The company also has tech updates ready for the Optima Hybrid. However, both new models essentially copy Hyundai's latest improvements for the Sonata Hybrid and PHEV. According to a UK press release, the Optima PHEV will arrive in some global markets in the second half of 2016 with a 9.8-kWh lithium-polymer battery and a 67-horsepower electric motor – just like the 2016 Sonata PHEV. Kia will also aim for an EV range of 27 miles. There will be a 2.0-liter four-cylinder with 154 horsepower and 140 pound-feet under the hood for a total system output of 202 hp, and power will get to the road through a six-speed automatic. The company will expect its Hyundai sibling's 99 US mpge fuel economy, too. The PHEV will wear a few unique parts like a charging panel at the front of the driver's side, chrome side sills, and different wheels. Updated instruments will provide info about the electric powertrain, and a charge indicator on the dashboard that will let drivers check the status even when outside the sedan. The updates for the Optima Hybrid will also generally follow the electrified Sonata with a 2.0-liter four-cylinder, 51-hp electric motor, and total output of 192 hp. It will go on sale in "the majority of Kia's global markets in the first half of 2016," according to the release. However, we don't yet know whether the US will be one of those regions. Autoblog asked Kia Motor America spokesperson James Hope about both of these vehicles, and he told us: "KMA has made no announcement regarding the Optima hybrid. We will have more to share at a later date." HYBRID FUTURE PLANNED FOR NEXT GENERATION KIA OPTIMA New Optima range will include Hybrid and Plug-in Hybrid models Optima PHEV to combine high-capacity batteries with 2.0-litre GDI engine, offering more electric range than any other PHEV saloon Targeting 10% greater fuel economy for new Optima Hybrid Kia aims to improve average fuel efficiency by 25% over 2014 by 2020 Kia Motors has today revealed details of a range of advanced new powertrains planned for the all-new Optima, as part of the company's ongoing commitment to broaden its global range of low-emission vehicles.

Hyundai and Kia announce $3.1-billion investment in US facilities

Update: A US spokesperson for Hyundai had no further information, but called the reports about the automaker's investments accurate. Hyundai and Kia announced this morning a plan to invest $3.1 billion into its US facilities over the next five years. According to Automotive News, the new investment is a 50-percent increase over what Korea's two largest automakers have brought to the US in the last five years. The automakers already have several large-scale manufacturing bases in the US, but the new investment could bring another plant into the fold. There is the possibility of producing a Genesis product in the US or building a new plant for a US-specific crossover. The announcement is the latest US investment plan as President-elect Donald Trump prepares to take office Friday. Trump has singled out automakers for not building cars in the United States, and Ford, General Motors, and Fiat Chrysler all announced plans to invest in the US since the beginning of January. Skeptics say these moves would have to be years in the making, though Trump has been quick to take credit for them. Not all of the new money will go toward building new plants. Hyundai and Kia could simply expand the already busy plants in Montgomery, AL, and West Point, GA. Beyond that. The automakers could further their research into electric and autonomous vehicles. Like many other automakers, the two Korean giants have backed down from planned expansions into Mexican manufacturing. Although many automakers currently build or were planning to build new vehicles in Mexico, threats of importation fees appear to be causing caused automakers to refocus some of their efforts toward US production. With all this new investment in the US, Kia and Hyundai said there will be no jobs moved to Mexico. Meanwhile, this morning GM announced plans to bring truck axle manufacturing back from Mexico. As with all of the recent announcements, Hyundai and Kia stated that Trump's upcoming presidency played no part in the decision to reinvest in the US. Related Video: News Source: Automotive News Plants/Manufacturing Genesis Hyundai Kia Mexico Trump jobs investment

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.