If you’ve visited your local Kia dealer lately, you might have noticed that the price tag of a new Kia is a lot higher than what it used to be, even three or four years ago. One of the nation’s most popular and affordable auto brands has now also become one of the most marked up. Let’s take a look at why this is happening and what it means for you as a driver.
Kia -The Vehicle of Value
Kia has long been associated with affordability for budget-conscious consumers. Along with similar brands, including Hyundai, Toyota, and Honda, Kia has typically targeted drivers wanting great value at an affordable price tag.
In their efforts, Kia has built itself up to be one of the best value brands available. However, over the past couple of years, Kia has redefined itself as an automaker with some of the highest markups in the industry. When you think of high markup vehicles like BMW, Mercedes-Benz, and Audi, you can soon add Kia to that list. While this might be surprising, when you look closely at a Kia model, it’s easy to see why these vehicles are commanding more.
Kia Models Seeing the Biggest Markups
According to Edmunds.com, Kia cars and SUVs are seeing selling points 6% over their sticker price. While vehicles are seeing higher markups in general because of a contentious automotive market, this 6% is slightly higher than other makes in Kia’s class. For example, Hyundai, Honda, and luxury brand Land Rover are seeing a 4% selling price above sticker price. Aside from this red hot automotive market, premium features and in-demand amenities are helping to drive up the price of Kia models. Kia models that are commanding higher prices include the higher models of the beautifully designed 7 and 8-seater Telluride SUVs.
Lower-end models like the Kia Rio are also seeing higher markups. Although a lower-end model, its sporty appeal and advanced tech integration have allowed it to command a higher price.
What’s Driving Large Markups?
As with any competitive automaker, Kia has made it a point to deliver what customers want. In today’s automotive landscape, this means the latest tech at an affordable price tag.
It’s this ability to integrate some of the most in-demand tech, safety, and comfort features that have allowed Kia to earn the title of one of the best value brands available. Even at its relatively lower price point, drivers can look forward to a slew of amenities for a heightened driving experience.
One of the biggest factors fueling Kia’s markups is the tech integration that has helped add to the value of these vehicles. Technology integration has helped give drivers a more personalized and enjoyable experience when they’re on the road.
Kia has also done a great job using technology to enhance the overall safety of their vehicles. A range of driver assist technologies has helped Kia models to rank as some of the safest vehicles according to the Insurance Institute for Highway Safety and the National Highway Traffic Safety Administration.
Experience the High Value of a Modern Kia
Kia’s have long been known as an affordable vehicle for drivers who are on a budget. While this value has helped keep prices low, the latest integration of tech, enhanced safety features, and overall comfort have helped the brand command more in terms of its worth. You can experience these changes for yourself by visiting your local Kia Dealer and trying out an all-new model yourself.
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