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Kia EV6, Nissan Frontier, Range Rover and VW Taos | Autoblog Podcast #738

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined byYahoo Finance Senior Reporter Pras Subramanian. First, they discuss the cars they've been driving, including the Kia EV6, Nissan Frontier, Land Rover Range Rover and Volkswagen Taos. Then they discuss the state of certain brands like Bentley, Ferrari and Polestar. They also talk about the most recent quarterly sales updates, including what's going on with Tesla in China. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #738 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2022 Kia EV6 2022 Nissan Frontier 2022 Land Rover Range Rover 2022 Volkswagen Taos The state of Bentley, Ferrari and Polestar Q2 sales trends Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: 2022 Kia EV6 walkaround at the 2021 Chicago Auto Show

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.

Jaguar Land Rover to recall 44,000 vehicles over excessive diesel emissions

Jaguar Land Rover is recalling 44,000 vehicles in the U.K. due to some of its vehicles emitting higher CO2 emissions than were officially stated. The recall is said to affect vehicles equipped with JLR's 2.0-liter diesel engine in cars built between 2014 and 2018. Quite a few models are affected, including the Jaguar XE, XF, E-Pace, F-Pace, along with the Land Rover Discovery Sport, Range Rover Evoque, Range Rover Velar and Range Rover Sport. The excessive CO2 emissions were discovered by the British vehicle certification agency, who then reported it to JLR. The company is reportedly working on a fix that will satisfy the agency and bring the cars back in line with their stated CO2 emissions. As of now, JLR is not saying what the fix will entail. A statement from JLR reads: "The modifications will be made free of charge, and every effort will be made to minimize inconvenience to the customer." The U.K. magazine Which? said JLR told them owners might experience minor changes to the "overall vehicle experience." Reading between the lines there, that sounds like there could be some pretty serious tampering with the engine software, but we'll leave the speculation to a minimum for now. CO2 emissions numbers are used in the U.K. to set tax levels for vehicles, which means JLR could have gotten out of some taxation with its artificially low CO2 numbers. At this point we don't know how badly the numbers are off, so it's impossible to know how egregious the mislabeling is. There also isn't any explanation for why the CO2 numbers are off, but this is all information that could be forthcoming. The 44,000 number could rise, too, because the UK vehicle standards agency says that some gasoline models could also be involved. That would open a whole new can of worms for JLR. Some Jaguar vehicles (XE, XF and F-Pace) offer a 2.0-liter diesel option for the U.S., but Land Rover's only diesel it sells here now is the 3.0-liter V6. For the time being there's no recall out on the diesel or gas engines from JLR in the U.S. There's no chatter surrounding emissions cheat devices like those involved with Volkswagen's diesel emissions scandal. Nor does the scale of whatever the problem is come anywhere near the amount of Volkswagen diesels that needed to be recalled or taken off the roads. We'll be keeping tabs on the situation to see if this expands any further than the U.K. Green Recalls Jaguar Land Rover SUV Diesel Vehicles Luxury Sedan