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Kia GT five-door approved, will tackle A7, Panamera

Kia might finally be entering the four-door coupe market in the near future with a production version of its GT Concept from the 2011 Frankfurt Motor Show. According to Edmunds, Kia execs at that Paris Motor Show confirmed that the swoopy model finally has been given the green light to go on sale, and that would likely be sometime in 2016 in the US.
Kia would reportedly focus the GT on the US market, but a European version with a diesel is also a possibility. As with the K900 premium sedan, the brand is taking on some established competition with the new model, including the likes of the Audi A7 and Porsche Panamera. Judging from the rest of the Korean company's range, an attractive feature for many buyers would likely be a price several grand lower than the challengers in the segment.
"Four-door coupes aren't necessarily sales champs, but right now they are popular, just as the retro theme was the "in thing" 15 years ago," said auto industry analyst Dave Sullivan from AutoPacific to Autoblog. Something like the GT would also help with Kia's increasing focus on improving its design design because it can "make a statement about what your brand stands for."

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.

Watch the Kia Soul hamsters take on 'Dueling Banjos'

The Kia Soul hamsters are back, but rather than bopping to the party tunes of LMFAO, they're delivering their own take on "Dueling Banjos." Thankfully, this commercial is more pleasant to watch than the film that helped make the banjo tune famous. Aside from the return of Kia's fuzzy mascots, this commercial also marks the welcome return of plumper hamsters. When Kia launched the Soul EV, it gave its spokesrodents a trimmer figure that made the anthropomorphic dancing hamsters even creepier. As Autoblog chief Mike Austin said when assigning this story, "Sexy EV hamsters were scary." Alongside from the two-minute commercial, Kia has included a three-minute, behind-the-scenes video called Soul Sessions: Making the Music. You can check out the main spot up top, and then get the peek behind the curtain below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.