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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.

2018 Nissan Kicks vs other tiny crossovers: How they compare on paper

Update: As we now have now driven the 2018 Nissan Kicks and have all the specs and figures available, we thought it was time to update this comparison post. The data chart has been updated with final Kicks information as well as changes to competitors made for 2019. Anyone else have "Pumped Up Kicks" by Foster the People stuck in their heads? Well, you do now. I couldn't be the only one. Anyway, the 2018 Nissan Kicks is a thing. It replaces the Nissan Juke, which Mr. Stocksdale thought was a bad idea and Mr. Myself thought was a smart idea. Nevertheless, neither of us were especially pumped up by the Kicks. However, the majority of car buyers are all about SUVs, and this littlest segment of them has been multiplying like Tribbles in the past few years. The Juke was one of the first of these subcompact crossovers, but it was probably too oddball for a mainstream audience (not to mention inefficient) and never really caught on. Newer competitors certainly didn't help. Well, to see how the Kicks compares to those very competitors, lets fire up the Autoblog Comparo Generator 3000 (TM). Specifically, we'll be looking at those subcompact crossovers with similarly small dimensions, especially low prices and/or a disinclination to offering all-wheel drive. We're talking about the Nissan Kicks vs the Toyota C-HR, Hyundai Kona, Kia Soul, Honda HR-V and Jeep Renegade. Now, if you're interested in literally the exact opposite SUV segment, check out our recent Mercedes G-Class comparo. Otherwise, on to the spreadsheet: Dimensions and passenger space In terms of exterior dimensions, the new Kicks is right smack in the middle of the segment. It's virtually the same as the Honda HR-V, yet manages to eek out a few extra cubic feet of cargo space behind its raised back seat. The Honda and its "Magic Seat" still beats it in terms of maximum capacity, but it sure is close. The Kia Soul has the biggest maximum number, but that's largely the result of being a box. Its small behind-the-back-seat cargo number is likely a better indicator of how much you'll be dealing with on a day-to-day basis. And in that day-to-day way, the Kicks is excellent. Backseat legroom seems to be a Kicks downside, as all but the C-HR surpass it. (Seriously, it's almost impressive how large the C-HR is on the outside but cramped inside.) However, the Kicks' tall greenhouse not only allows for ample headroom, but seats that are mounted high off the ground.

A hotter hamster wheel | 2017 Kia Soul Turbo First Drive

Finally. Finally. After much teasing, taunting, and auto show concepting, Kia is making its funktastic hatchbox, the Soul, with a turbocharged engine. The new, 2017 Soul Turbo takes all the good things about the standard car – the space, style, comfort, and long list of standard and optional equipment – and adds a dose of performance, courtesy of the 1.6-liter turbo four-cylinder also used in the Forte5 SX and Forte Koup, as well as Hyundai's Elantra Sport and Veloster Turbo. It was a long time coming. According to Kia, consumers like the Soul – to the tune of almost 150,000 units last year – but aren't as fond of its previous two-engine lineup, which previously topped out at a 161-horsepower, 150-pound-foot naturally aspirated four-cylinder. Alongside all-wheel drive, more power was at the top of the customer wish list. While all-wheel drive is absent here – the packaging is too tricky and the cost too high, Kia tells us – the Soul Turbo hits a market white space, offering small CUV utility with entertaining but not overwhelming straight-line performance. This is, in the end, a higher-power version and not a full-on performance model, and the changes were made without compromising the friendly look and comfort we like. Yes, the Turbo-specific 18-inch wheels look lovely, but they're shod in the same 45-series all-season rubber as the 18s available on other Souls. And while the handsome leather-wrapped, flat-bottom steering wheel is sporty, the supportive-but-not-claustrophobic seats are a reminder that this is an everyday vehicle. Even the exterior accents – new front and rear fascias, side sills, red exterior badges and accents, and a dual-tip exhaust – aren't enough to overshadow the Soul's funky, friendly, and cute look. Even the oily bits aren't free of Kia's balanced approach. Admittedly, that's not entirely evident after looking at the powertrain details. The turbo 1.6-liter produces 201 hp and 195 lb-ft of torque, which isn't a lot for cars like the Veloster Turbo or Forte5 SX, but compared to other small CUVs and the Soul's 130-hp non-turbo 1.6-liter and 161-hp 2.0-liter, it's a big improvement. That 2.0-liter engine is likable, with enough low and mid-range torque that we can't complain about the 4,700-rpm peak, but the total figures are so low and the Soul's 3,163-pound curb weight so high, getting anywhere briskly means wringing everything out of it. The Soul Turbo does not have this problem.