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Kia, Mercedes, Carmax poised to return to NBA after league bans Sterling

NBA Commissioner Adam Silver dispatched some swift justice yesterday on the bigoted owner of the Los Angeles Clippers, Donald Sterling. The 80-year-old billionaire was banned for life and fined $2.5 million for making strongly racist remarks that were recorded on tape. Commissioner Silver has also vowed to try and force Sterling to sell the Clippers in a bid to sever any and all connection between him and the NBA.
Sponsors had rapidly abandoned the Clippers, with covers like the one above going up on sponsor logos during a playoff game against the Golden State Warriors earlier this week, due to the strong and vocal public condemnation of Sterling and his views. With the punishments in place, though, the door has been opened for Kia, the southern California dealer group for Mercedes-Benz and used-car retailer CarMax (among other, less auto-related organizations like State Farm, Red Bull and Sprint) to renew their sponsorship with the team.
"We stand with the Commissioner, the league, the players and the fans condemning Mr. Sterling's views. We look forward to a positive resolution and continuing our relationships within the NBA community, including our league and team sponsorships and our personal ties to [Clippers star] Blake Griffin," Kia said in a statement obtained by Automotive News.

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.

Kia teases sporty hatchback concept ahead of Detroit

The UK arm of Kia just released a teaser image (click to enlarge) for a new concept car that will be unveiled next month at the Detroit Auto Show. With little information to go on, the single overhead shot of the unnamed concept shows that it will be a two-door hatchback with a 2+2 seating configuration.
The brief press blast, which is posted below, promises that this is a new concept vehicle, so it's unlikely that it has anything to do with the similarly shaped Provo Concept that Kia showed off earlier this year at the Geneva Motor Show. Kia says that it will release more images of the concept soon, but it won't divulge the full details about the car until Detroit.