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Hyundai predicts 250-mile electric vehicle by 2020

Hyundai will start selling a battery-electric version of its Ioniq in the US later this year, but the company is ready for much more. Hyundai is forecasting having an EV with a 250-mile single-charge range by the end of the decade. Hyundai executive Ahn Byung-ki told Automotive News that, while electric-vehicle technology development has been steady during the past six years, it will accelerate during the next two. Think of it as the "hockey stick" effect, but for South Korean automakers instead of Silicon Valley tech giants or Canadian hockey players. The Ioniq, which will also get plug-in and hybrid variants, will have a single-charge range of 110 miles when the EV version arrives in November. After that, Hyundai and its Kia and Genesis sister companies may develop a 200-mile range EV for 2018, and then that 250-mile-range car for 2020. Byung-ki isn't concerned that the Ioniq will quickly be outdated because the longer-range vehicles will also be priced higher. The Hyundai executive also said the company had no plans to take on Tesla Motors in the luxury EV market. The Ioniq EV was unveiled at the New York Auto Show this past March. A hybrid version of that sedan debuted in South Korea in January, while the EV went on sale in South Korea last month. Overall, Hyundai, Kia, and Genesis are planning to introduce 10 hybrids, eight EVs, eight plug-in hybrids, and two hydrogen fuel-cell vehicles by the end of the decade. The Hyundai group's only electric vehicle currently sold in the US is the Kia Soul EV, which has a single-charge range of 93 miles as well as some dancing hamsters in its commercials. Neither the Tesla Model 3 nor the Chevrolet Bolt can make that second claim. Related Video:

Kia showcasing Optima T-Hybrid concept in Paris [w/video]

At the Geneva Motor Show earlier this year, Kia showcased a new diesel hybrid powertrain. And at the rapidly approaching Paris Motor Show, it will present that new technology in the Optima sedan concept you see here.
Called the Kia Optima T-Hybrid, the concept mates a 1.7-liter diesel with both a turbocharger and electric supercharger to a small electric motor and a 48-volt lead-carbon battery. The mild hybrid setup allows it to travel in electric-only model at low speeds and at cruise, regenerating brake power to recharge the battery. Kia said it chose the lead-carbon battery pack over lithium-ion because it's easier to recycle and does not require active cooling.
Because the powertrain is still under development, Kia isn't saying what kind of fuel economy or emissions figures it gets in the Optima T-Hybrid concept, but it is targeting a "significant reduction" in emissions and fuel consumption, while delivering 15 to 20 percent more power. Check out the system in action in the video below.

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.