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☆ Indonesia's EV ambitions could help boost investments in the rest of Southeast Asia
▼ + stars: | 2023-09-25 | by ( Quek Jie Ann | ) www.cnbc.com time to read: +1 min

Korean automobile manufacturer Kia displays the electric vehicle "EV6 GT-Line" during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Indonesia's EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia's automotive industry more broadly. Indonesia could be the "gateway" to the rest of the Association of Southeast Asian Nations, said Anindya Novyan Bakrie, CEO and president director of Bakrie & Brothers, an Indonesian conglomerate whose electric vehicle unit VKTR manufactures electric buses as well as EV parts. The Southeast Asian country is rich in copper, nickel, cobalt and bauxite — materials essential for the manufacturing of electric vehicle batteries. Indonesia is the largest nickel exporter, accounting for 22% of the world's reserves, according to a report by the ASEAN Briefing.

Persons: Anindya Novyan Bakrie, Tesla Organizations: Kia, Indonesia's, Association of Southeast Asian Nations, Bakrie, Brothers, ASEAN, BMI Fitch Solutions, CNBC Locations: Indonesia, Tangerang, Indonesian

☆ Shami and batters set up India's clinical win v Australia
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Put into bat, Australia were all out for 276 in exactly 50 overs even though 300 looked within their reach before Shami polished off their tail. Nearly all of Australia's frontline batters got the starts in the match but only David Warner (52) managed a half-century. Australia still looked poised for a bigger total with Josh Inglis (45) and Marcus Stoinis (29) scoring freely. After Adam Zampa removed both the openers and Shreyas Iyer ran himself out in between, Australia looked back in the contest. Rahul made 58 not out, staying put till the end to secure India's victory by hitting Abbott for a four and a six.

Persons: India's Mohammed Shami, Andrew Couldridge, Seamer Mohammed Shami, Mitchell Marsh, KL Rahul, David Warner, Steve Smith, Marnus Labuschagne, Cameron Green, Josh Inglis, Marcus Stoinis, Shami, Shubman Gill's, Ruturaj Gaikwad, Jos Inglis, Sean Abbott's, Gaikwad, Rohit Sharma, Adam Zampa, Shreyas Iyer, Suryakumar Yadav, Rahul, Abbott, Amlan Chakraborty, Christian Radnedge Organizations: Kia, Australia, KL, Thomson Locations: England, India, London, Britain, Australia, Indore, Rajkot, New Delhi

[1/2] A South Korea won note is seen in this illustration photo May 31, 2017. South Korean companies repatriated a record $33.13 billion of overseas earnings during the January-July period, 6.3 times the amount a year earlier, central bank data on current account balances showed. "The coming home of earnings retained abroad has been a big help for the won," a government official in charge of foreign exchange market said, asking not to be named due to internal policy. The automaker said on June 12 it plans to invest 7.8 trillion won ($5.82 billion) of retained earnings from overseas operations this year in electric car factories at home. The surge in repatriation also comes ahead of trading reforms planned for next year, when South Korea will extend onshore trading hours until 2 a.m. to improve access for foreign investors.

Persons: Thomas White, Yoon Suk, Hong Sung, kook, Min Gyeong, 1,340.7400, Jihoon Lee, Cynthia Kim, Joyce Lee, Heekyong Yang, Vidya Ranganathan Organizations: South, REUTERS, Rights, Samsung Electronics, Hyundai Motor, Kia Corp, Reuters Graphics Bank of Korea, Woori Bank, Hyundai, Hyundai Motor Group, Shinhan Bank, Yena, Thomson Locations: South Korea, Rights SEOUL, Korea

☆ Auto jobs are booming in the union-hostile South
▼ + stars: | 2023-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

New York CNN —Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Jobs at nonunion EV battery facilities pay less than the roughly $32 an hour that veteran UAW workers make. Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Mostly nonunion EV jobs and manufacturing investments are surging in Southern states led by Republicans. The South has picked up 66% of planned EV jobs, while projects in Midwestern states such as Michigan, Indiana, Kansas and Ohio have combined for 26% of planned jobs, according to S&P Global.

Persons: ’, Ford, nonunion autoworkers, ”, Stephen Silvia, Southern, Mason, Honda, Deni McIntyre, unionize, “ It’s, Nelson Lichtenstein, Jeffrey Greenberg, Lichtenstein, Bill Lee, Nikki Haley, Houston Cofield, Biden, Biden’s, Shawn Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Volvo, Benz, BMW, Toyota, Hyundai, American University, Southern Gamble, Workers, Foreign, Ford, GM, Dixon, Midwest, UAW, EV, P Global Market Intelligence, Nissan, Mercedes, Volkswagen, Kia, CNN, University of California, Clinton Presidency, Universal, Southern Republican, South . Tennessee Gov, Former South Carolina Gov, Republicans, North Carolina –, Environmental Defense Fund, P Global, Ford Motor Co, SK Innovation Co, Bloomberg, Getty, Big Three Locations: New York, Detroit, Smyrna , Tennessee, Spartanburg , South Carolina, Vance , Alabama, Lincoln , Alabama, Germany, Santa Barbara, Clinton, Korean, United States, Tennessee, Kentucky, Alabama, South, Chattanooga, Southern, – Georgia, South Carolina , Kentucky, North Carolina, Midwest . Georgia, Michigan, Indiana , Kansas, Ohio, Stanton , Tennessee, BlueOval

☆ Car buying was finally getting better. The auto workers' strike will make it bad for everyone again.
▼ + stars: | 2023-09-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The United Auto Workers union is on strike, targeting a select few Detroit 3 car factories. After years of a pandemic-driven supply-and-demand car crunch that jacked up new and used vehicle prices and shrunk dealership supply, car buyers had just started to see a little respite. The used car market has been trickier to generalize, but even used vehicle listing prices finally dropped slightly in July. "Pricing may well go up just because of scarcity, and if that happens, then the consumer that potentially was buying a new car would move to the used car market," Russell Hensley, partner in McKinsey's global automotive and assembly practice, said. "Prices will likely go up in the used car market."

Persons: Pat Ryan, Kelley, Cadillac, Jeep Wrangler, Ryan, Russell Hensley Organizations: United Auto Workers, Detroit, UAW, Service, Ford, GM, GMC, Buick, Chrysler, Chevrolet, Cox Automotive, Honda, Toyota, Kia, Jeep Locations: Wall, Silicon, Detroit, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio

☆ Hyundai Motor's South Korea union accepts 12% wage hike deal
▼ + stars: | 2023-09-18 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. Workers at Hyundai Motor, the No.3 global automaker by sales with its affiliate Kia Corp (000270.KS), last went on strike in 2018. The United Auto Workers (UAW) last week went on strike against all three Detroit automakers - General Motors Co (GM.N), Ford Motor Co (F.N) and Stellantis (STLAM.MI) - at once for the first time. Hyundai Motor Group, which houses Hyundai Motor, Kia, luxury brand Genesis, operates U.S. production sites in Alabama and Georgia. “The labour risks have been there all along, especially in the auto sector, but this UAW strike is unprecedented.

Persons: Andrew Kelly, ”, Lee Jae, Heekyong Yang, Andrew Heavens, Jan Harvey, Nick Zieminski Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai, Workers, Kia Corp, United Auto Workers, UAW, Detroit, General Motors Co, Ford Motor, Hyundai Motor Group, Kia, Eugene Investment, Securities, Thomson Locations: Manhattan , New York City, U.S, Rights SEOUL, South Korea, Alabama, Georgia, United States

☆ I compared Tesla rivals from Kia, Hyundai, and Genesis — and found the decision boils down to if you prefer style, luxury, or performance
▼ + stars: | 2023-09-15 | by ( Tim Levin | ) www.businessinsider.com time to read: +1 min

Hyundai and its Kia and Genesis brands are making some of the best electric cars today. If you're looking for a stylish, technologically advanced Tesla alternative, those brands are a solid choice. I drove and compared the Kia EV6, Genesis GV60, and Hyundai Ioniq 5. If you want an EV brimming with unique style and advanced tech, then one of the Korean company's latest models is a solid choice. I drove the Hyundai Ioniq 5, Kia EV6, and Genesis GV60 — three small SUVs all based on common technology.

Persons: Kia EV6 Organizations: Hyundai, Kia, Service Locations: Wall, Silicon, Korean

BOYNTON BEACH, Fla. (AP) — A Florida man already charged with murder has been indicted for the killing of a Lyft driver whose car he allegedly stole in an attempt to escape, authorities announced Wednesday. An Okeechobee County grand jury this week indicted Mathew Flores with first-degree murder and armed robbery for the Jan. 30 slaying of 74-year-old Gary Levin. Flores is being held without bail on both murder charges. Levin's body was found five days after his slaying by investigators who retraced his ride with Flores, Lawson said. Lawson said that because Flores was in custody for the Martinez slaying, there was no need to bring charges quickly in the Levin case.

Persons: Mathew Flores, Gary Levin, Flores, Levin, Kia, Eli Lawson, Jose Carlos Martinez, “ Mathew Scott Flores, ” Lawson, Martinez, Christopher Boldt, Lawson, “ Organizations: Police, Florida Department of Law, Associated Press Locations: BOYNTON BEACH, Fla, Florida, Okeechobee County, Palm Beach County, Lake Okeechobee, North Carolina, Hardee County, Orlando, U.S, Asheville

Petrol vehicles have been the top sellers in recent years - increasing their market share to around 68.4% in January-July 2023 from 42.5% in 2014, according to data from automotive market intelligence provider JATO Dynamics. Cost-conscious Indians are preferring to buy petrol cars as they are cheaper than diesel, even though diesel cars offer better fuel efficiency. DIESEL VEHICLES:Tuesday's warning from minister Nitin Gadkari targeted diesel carmakers, whose market share has seen a steady decline to nearly 18% of passenger vehicles in January-July this year from 47.9% in 2014. But when it comes to luxury cars, diesel variants remain in vogue, with their market share rising to 33% so far this year from 31% in 2021. Among automakers, Mahindra and Mahindra (MAHM.NS) has the highest diesel car market share with 47% of unit sales so far this year, up from 28% in 2021.

Persons: Maruti Suzuki, Nitin, Tesla, Aditi Shah, Aditya Kalra, Mark Potter Organizations: Maruti, Tata Motors, Volkswagen, Society of Indian Automobile Manufacturers, JATO Dynamics, Mercedes, BMW, Audi, Mahindra, Hyundai, Kia, Thomson Locations: MUMBAI, China, United States, India

The lawsuits come after thousands of Hyundai and Kia thefts that use a method popularized on TikTok and other social media channels. The cities suing Kia and Hyundai include New York, Cleveland, San Diego, Milwaukee, Columbus and Seattle. Kia and Hyundai vehicles represent a large share of stolen cars in many U.S. cities, according to data from police and state officials. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. In May, the automakers agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles.

Persons: Edgar Su, Immobilizers, David Shepardson, Angus MacSwan Organizations: Singapore, REUTERS, Rights, Korean, Hyundai Motor, Kia Corp, Hyundai, Kia, Traffic Safety Administration, Insurance Institute, Highway, Data, Thomson Locations: Singapore, New York, Cleveland, San Diego, Milwaukee, Columbus, Seattle, U.S

Now, given the current high car costs and interest rates, drivers are shifting their focus to less expensive models. That shift shows in so-called "days to turn" numbers, which measure how long cars are in dealer inventory before being sold. "People have stopped going for top-of-the-line cars and are going for mid-trim cars," he added, "That's where we're starting to see the shift." Paul Waatti industry analyst at AutoPacificFive years ago, there were 12 vehicles selling for an average price of more than $100,000. Know your budget — really Most car buyers use monthly payments to conceptualize how expensive a car is.

Persons: Patrick T, Joseph Yoon, homebuyers, Yoon, Edmunds, Brian Moody, Kelley, Moody, Paul Waatti, Waatti, they're, Tom McParland Organizations: Fallon, Bloomberg, Getty, Finance, Mitsubishi Mirage, Consumers, Chevrolet, Chrysler, Fiat, Honda, Hyundai, Kia, Mazda, Mitsubishi, Nissan, Subaru, Toyota, Volkswagen —, Auto, AutoPacific, Ferrari, Lamborghini, Royce, Automatch Consulting Locations: Autonation, Carvana, Buffalo , New York, Edmunds

☆ CHART OF THE DAY: The US is importing more goods from Mexico than China for the first time since 2003
▼ + stars: | 2023-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The US is importing more goods from Mexico than China for the first time since 2003. The reversal in trend comes as economic tensions between the US and China remain heightened. US companies have been diversifying their production out of China amid geopolitical tensions. The reversal of a decades long trend comes amid heightened economic tensions between the US and China, and as geopolitical tensions flare. Over the summer, computer maker HP said it would shift its production of millions of laptops to Thailand and Mexico from China.

Persons: Ford Organizations: Service, Bank of America, HP, General Motors, Chrysler, Kia Motors, Volkswagen, Nissan, Mercedes, Benz Locations: Mexico, China, Wall, Silicon, Thailand, Asia, Taiwan, Russia, Ukraine

☆ Volvo's Russian assets transferred to Russian investor - industry ministry
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. REUTERS/Andrew Kelly/File photo Acquire Licensing RightsMOSCOW, Sept 8 (Reuters) - Swedish truck maker Volvo AB's Russian assets (VOLVb.ST) have been transferred to an undisclosed Russian investor, the Ministry of Industry and Trade said in a statement. Volvo suspended all sales, service and production in Russia in February 2022, and said last October that further write-downs might be necessary. In 2021, Russia accounted for about 3% of its net group sales of about 372 billion Swedish crowns ($33.4 billion). The invasion triggered a host of Western economic sanctions, and threats by Russia to seize Western businesses based there.

Persons: Andrew Kelly, Igor Kim, Alexei Sannikov, Kim, Kevin Liffey, David Evans Organizations: Volvo, REUTERS, Rights, Ministry of Industry, Trade, carmakers Volkswagen, Mercedes, Benz, Nissan, Toyota, Renault, BMW, Kia, Hyundai, Reuters, Thomson Locations: Linden , New Jersey, U.S, Swedish, Russia, Kaluga, Ukraine

☆ Federal safety regulators push to recall 52 million air bags
▼ + stars: | 2023-09-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Federal safety regulators are pushing to get 52 million air bags recalled due to the threat that they could explode, severely injuring or even killing a car’s occupants. About 11 million of the air bags were manufactured by Delphi under a licensing agreement with ARC. It also did not give an estimate for how many vehicles contain the air bags, since most vehicles have multiple air bags. The agency did not say how many cars may have more than one of the air bags it wants recalled. The number of air bags still in use is less than the 67 million that NHTSA estimated earlier this year.

Persons: ”, Takata, —, Ramishah Maruf Organizations: New, New York CNN, Federal, Traffic Safety Administration, ARC, Delphi, General Motors, Ford, Toyota, Hyundai, Kia, Benz, BMW, Volkswagen, NHTSA, GM, Chevrolet Traverse, GMC Acadia, “ Locations: New York, United States, Canada

☆ US says 52 million air bag inflators should be recalled over rupture threat
▼ + stars: | 2023-09-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Sept 5 (Reuters) - U.S. auto safety regulators said on Tuesday that 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive need to be recalled because they may rupture and send dangerous metal fragments flying. GM in May agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. Delphi Automotive, acquired by Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. NHTSA has been scrutinizing air bag inflator ruptures for more than 15 years. Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide, the biggest auto safety callback on record.

Persons: Autoliv, David Shepardson, Jonathan Oatis, Leslie Adler, Timothy Gardner Organizations: ARC Automotive, Delphi, Traffic Safety Administration, ARC, NHTSA, General Motors, Ford Motor, Toyota, Hyundai, Kia, Mercedes, Benz, BMW, Volkswagen, ARC inflators, GM, Delphi Automotive, Autoliv, Thomson Locations: United States, U.S

DETROIT (AP) — The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people. NHTSA is trying to force ARC to recall inflators in driver and passenger front air bags from at least a dozen automakers. Neither ARC nor the auto industry has released a full list of vehicle models with the kind of air bag inflators that have exploded. But at least 25 million of the 284 million vehicles on U.S. roads are believed to contain them. ____This story has been corrected to show that at least 25 million vehicles could have the ARC air bag inflators, not 33 million.

Persons: Kia —, inflators, Marlene Beaudoin, Beaudoin Organizations: DETROIT, Traffic, Administration, ARC Automotive Inc, ARC, NHTSA, Chevrolet, Buick, GMC, Ford, Toyota, Volkswagen, Audi, BMW, Porsche, Hyundai, Kia, General Motors, Yinyi Locations: U.S, Tennessee, Canada

Federal auto safety regulators moved Tuesday toward a recall of about 52 million airbag inflaters used by a dozen major carmakers, calling the parts unsafe and susceptible to rupture. The National Highway Traffic Safety Administration scheduled a public meeting on Oct. 5 on its recommendation to recall the airbags, manufactured by ARC Automotive and Delphi Automotive Systems. ARC rejected the agency’s initial findings that its airbags were defective. Of the 52 million airbags, 41 million were manufactured by ARC and 11 million were produced by Delphi using a design licensed by ARC. The airbags were variously made in China, Mexico and Knoxville, Tenn., and were used by a dozen major carmakers: BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes-Benz, Porsche, Stellantis, Tesla, Toyota and Volkswagen.

Organizations: Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, ARC, Delphi, BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes, Benz, Porsche, Toyota, Volkswagen Locations: United States, China, Mexico, Knoxville, Tenn

☆ A Dodge Charger is 60 times more likely to be stolen than any other vehicle in the US. It's now taken the most-stolen crown from Hyundai and Kia.
▼ + stars: | 2023-09-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Hellcats from 2020 to 2022 are 60 times more likely to be stolen than other cars, data shows. Kia and Hyundai owners were previously plagued by theft issues thanks to a TikTok trend. The Hyundai Elantra is among the models affected by thefts sparked by the "Kia Boyz" TikTok trend, the automaker announced. Sjoerd van der Wal/Getty ImagesThe trend was popularized by the "Kia Boyz," who posted stealing the certain Kia and Hyundai models using a screwdriver and USB cord. Affected drivers included owners of certain Kia models made between 2011 and 2021 and certain Hyundai models from 2016 to 2021.

Persons: Raymond Boyd, HLDI, Matt Moore, Dodge, it's Kia, Kia Sportage, Sjoerd van Organizations: SRT Hellcat, Kia, Hyundai, Data, Stellantis, Hellcats, Wal, Getty Locations: Stellantis North America

☆ In a Crisis (or Two), They Both Knew Where to Turn for Help
▼ + stars: | 2023-09-01 | by ( Valeriya Safronova | ) www.nytimes.com time to read: +1 min

Dr. Jain and Ms. Lee first met at Alibi Room, a bar and restaurant in Los Angeles, in May 2021 after matching on Hinge. “But we both had these immigrant stories.”“It was like, ‘What did you do on the weekends when you were young’,” Ms. Lee said. “I drove to art class six hours away in San Diego.”“I went to Korean SAT classes every weekend,” Dr. Jain answered. Dr. Jain, 42, grew up in different parts of Bergen county in New Jersey; his parents immigrated from Rajasthan, India, in the 1970s. He has a bachelor’s degree in government from Harvard, an M.B.A. from Harvard Business School, and a medical degree from Harvard Medical School.

Persons: Jain, Lee, “, Dr, ’, Ms, ” “, ” Dr Organizations: Costco, Kia Motors, Central Saint Martins, Harvard, Harvard Business School, Harvard Medical School Locations: Los Angeles, San Diego, Seoul, Irvine, Calif, Central, London, Coupang, Bergen county, New Jersey, Rajasthan, India

☆ Opinion | Kia and Hyundai Helped Enable a Crime Wave. They Should Pay for It.
▼ + stars: | 2023-09-01 | by ( Farhad Manjoo | ) www.nytimes.com time to read: +2 min

The homicide rate has dropped significantly over the last year, based on data from 30 American cities. Police departments and city officials point to this: Millions of Kias and Hyundais are ridiculously easy to steal. But Hyundai and Kia, which come under the same South Korean conglomerate, did not install this basic device in somewhere around nine million cars sold between 2011 and 2022. A couple of years ago, videos showing how to hotwire the vulnerable cars began to pop up online. Without going into details, the hack involves jamming a small object into the car’s starter and turning it as if it were a key.

Persons: Jeff Asher Organizations: Criminal, D.C, Baltimore Sun, Police, Hyundai, Kia Locations: Atlanta, Philadelphia , Washington, Chicago , New Orleans, Buffalo, Durham, N.C, United States

☆ Hyundai, LG to spend $2 billion more on Georgia battery plant
▼ + stars: | 2023-08-31 | by ( ) edition.cnn.com time to read: +2 min

Hyundai Motor Group and LG Energy Solution will boost their joint investment in a Georgia battery manufacturing plant by $2 billion and add 400 additional jobs, the companies and the state said Thursday. The auto manufacturing plant is scheduled to begin producing vehicles in January 2025 and will build 300,000 vehicles annually. Auto parts maker Hyundai Mobis will assemble battery packs using cells from the plant, then supply them to Hyundai Motor manufacturing facilities in the United States for production of Hyundai, Kia, and Genesis electric vehicles. Last year, Hyundai global chief operating officer Jose Munoz said the Georgia plant could eventually produce 500,000 vehicles annually, if demand warrants. Hyundai Motor in April said it had finalized a separate $5 billion electric vehicle battery joint venture in the US with partner SK On, a battery unit of SK Innovation Co.

Persons: Brian Kemp, Jose Munoz Organizations: Hyundai Motor Group, LG Energy, Hyundai, Hyundai Motor, Kia, Georgia Gov, SK, SK Innovation Co Locations: Georgia, Bryan County , Georgia, United States

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how Kia went from being an underdog to one of the most popular car brands in the worldFor many of its early years in the U.S., Kia was a low-cost value brand, and its cars were often criticized for poor quality, reliability and design. But with a brush with bankruptcy and a 51% stake investment by Hyundai Motor Group, Kia grew fast, started winning awards and became one of the most desired car brands. Sales have increased threefold in the U.S. over the past 20 years. But growing too fast and catering to a higher-income customer comes with a fair share of challenges.

Persons: Kia Organizations: Hyundai Motor Group, Kia Locations: U.S

☆ How Kia pulled off a massive turnaround in the U.S.
▼ + stars: | 2023-08-31 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

When the automaker arrived in the U.S. in 1994, its cars were poorly reviewed, and it was seen mostly as a low-cost value brand. Now, Kia is winning awards and commanding higher markups than its peers. U.S. sales have gone from about 12,000 units in 1994 to almost 700,000 units in 2022. "We had a record in 2022," said Steve Center, chief operating officer of Kia America, adding that the first half of 2023 brought another sales record. But Kia believes it can take on electric as well as it took on internal combustion.

Persons: Kia, Steve Center, I've, Ivan Drury, Edmunds, We've, we'll Organizations: Kia America, ICS, BMW, Audi, U.S ., EV Locations: Korean, U.S, .

The gunman, identified as 21-year-old Ryan Christopher Palmeter, left behind racist writings and used racial slurs, Jacksonville Sheriff T.K. As a hurting community gathered Sunday to honor the victims, Jacksonville Mayor Donna Deegan called to an end to division. As investigators probe the Jacksonville gunman’s motives and history, Waters cautioned against trying to find reason in the attack. How the shooting unfoldedPeople walk past the Dollar General store Sunday in Jacksonville, Florida. John Raoux/APJacksonville is processing the loss, said Florida State Sen. Tracie Davis, who represents the area of Jacksonville where the shooting happened.

Persons: Angela Michelle Carr, Anolt Joseph “ AJ ” Laguerre, Jerrald Gallion, Ryan Christopher Palmeter, Waters, General Merrick Garland, Jacksonville Mayor Donna Deegan, “, Zachary Faison Jr, Faison, ” Faison, ” “, happenstance, Sean Rayford, Carr, Laguerre, Gallion, texted, ” Waters, Baker, ”, Sabrina Rozier, ” Gallion, John Raoux, Tracie Davis, “ I’m, ” Davis, ” Biden, Kamala Harris, ” Harris Organizations: CNN, Jacksonville Sheriff T.K, Justice, Jacksonville Mayor, Jacksonville, Edward Waters University, Jacksonville Sheriff's, Dr, CNN Sunday, Dollar, “, University, Kia, Authorities, Sunday, Residents, Florida State Sen Locations: Jacksonville , Florida, Jacksonville, Florida, Buffalo , New York, Charleston , South Carolina, Massachusetts, Oklahoma, Orange Park, Clay County, Duval County, New Town, Clay, Washington, America

Consider this: In July, just one car model — the Mitsubishi Mirage — had an average new-vehicle transaction price below $20,000, according to Kelley Blue Book data. The $20,000-or-below barometer is a sort of unofficial price threshold for an affordable new car, said Brian Moody, executive editor for Kelley Blue Book. Five years ago, there were 12 vehicles selling for an average price of more than $100,000. The average new-vehicle purchase price today is about $48,000, up from about $30,000 in 2012, according to Kelley Blue Book. Know your budget — really Most car buyers use monthly payments to conceptualize how expensive a car is.

Persons: Kelley, Brian Moody, Moody, Tom McParland, Paul Waatti, Waatti, Joseph Yoon, they're, Yoon, McParland Organizations: Mitsubishi, Manufacturers, Kia, Hyundai, Nissan, Mitsubishi —, Automatch Consulting, Consumers, Edmunds, Auto, Ferrari, Lamborghini, Royce

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