2014 Kia Sedona Ex on 2040-cars

Auto blog

Kia will launch a fully autonomous car by 2030

Kia promises to have a fully autonomous vehicle on sale by 2030, and the South Korean automaker will provide an early preview at that next-gen tech by launching the Drive Wise sub-brand at the Consumer Electronics Show. The new branding will encompass all of the company's advanced driver assistance systems and innovations in the human-machine interface over the next 15 years. Before Kia's fully driverless vehicle hits the street, the company thinks that partially autonomous Drive Wise technology could be ready by 2020. These early steps are largely what the company has on display at CES. Tech like Highway Autonomous Driving and Urban Autonomous Driving use sensors and GPS to allow a model to control itself. An Emergency Stop System can automatically get the car off the road if there's a problem, and an electronic valet would even allow a vehicle to park without a driver inside. Kia took a major step toward its autonomous future in December 2015 when it received permission from Nevada to test driverless tech on public roads there with a Soul EV (pictured above). The company and Hyundai have also pledged $2 billion in research through 2018 to help bring these advanced systems into production. Kia also folds future in-vehicle tech under the Drive Wise branding, and its I-Cockpit concept shows some of these solutions off at CES. This demonstrator of a next-gen vehicle cabin supports gesture controls and can detect an owner's fingerprint to adapt the interior to the person's preferred music and climate settings. Autonomous tech is one of the hottest parts of the auto industry right now, and a host of companies are ready to challenge Kia's coming innovations. For example, General Motors plans to test a network of driverless vehicles with ridesharing service Lyft, and Ford and Google might form a similar partnership. BMW also could show of a concept with a nearly production-ready solution early in 2016. Kia Motors introduces new 'DRIVE WISE' sub-brand for autonomous driving technologies - Kia 'DRIVE WISE' encompasses future Advanced Driver Assistance Systems - DRIVE WISE intelligent safety technologies exhibited at 2016 Consumer Electronics Show in Las Vegas - U.S.

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.

South Korea firms up fuel economy regs following Hyundai/Kia debacle

According to a report from Reuters, South Korea's government has drafted strict new rules for automakers to follow when calculating fuel economy. The legislation comes after a major snafu by Hyundai and Kia that resulted in the automakers lowering the estimated fuel mileage of many popular models - some by several miles per gallon, including the Soul subcompact above - and compensating owners in the US and Canada for the reduction.
The new fuel economy rules were announced by the Ministry of Trade, Industry and Energy in South Korea and will see average mileage ratings drop by roughly three to five percent, according to the report. In addition, manufacturers found guilty of overstating mileage figures will be liable for fines of up to $900,000.
These sweeping new regulations will go into effect in the second half of 2013 and, while they won't have any effect on EPA estimates for Hyundai and Kia vehicles in the United States, they are expected to result in new ratings for the two automakers in their home market of South Korea, where they enjoy a whopping 70-percent market share.