This question may be particularly relevant for Kia’s electrified models given that they weigh more than standard petrol (and diesel) only vehicles, and as such would mean higher shipping costs due to the extra weight ( and potentially the additional shipment of additional parts, at least for hybrids and plug-in hybrids). Fortunately, Kia’s price increases on the Seltos and Carnival are modest, ranging between $50 and $470 and $40 and $340, respectively. Additionally, for these modest price increases, Kia is adding more standard features to both models, and for the top trim version of the Carnival, Kia is actually lowering the price! This should reassure potential buyers since they are paying more, but getting more (or paying less, in at least one case).
All of this may make this news seem almost worth ignoring, but if we wait for recent announcements from other plug-in vehicle manufacturers like Tesla and GM of more substantial price increases for their electric vehicles, it shouldn’t come as a surprise if Kia is also raising the prices of its plug-in and hybrid vehicles soon too. At this time, we don’t know because Kia hasn’t made any pricing announcements for its other 2023 models, other than the 2023 Sportage Hybrid (which is a new release for 2023 and has no previous model to base a review on). price comparison). In my opinion, price increases should be anticipated in all areas, or for most Kia models anyway. This may be especially true for electrified vehicles and standard vehicles with higher technology content, as the additional costs of batteries, electric motors and semiconductors needed to enable additional features are unlikely to be cheaper at the coming year as demand for these features skyrockets and supply chain issues drag on for the foreseeable future.
What price increase can we expect from Kia on its other 2023 models? This is pure speculation on my part, so please bear that in mind and keep an eye out for news from Kia, or Torque News, but I think we should expect increases in Kia’s price on its plug-in vehicles and more modest price increases on at least some of its gas-only hybrid and standard vehicles for the next model year. However, I think Kia’s price increases may be lower than those announced by Tesla and GM, because so far their increases are focused on vehicles that are more expensive (and more premium or less bulky) than any Kia vehicles. If I were to estimate a dollar range for the US market, I wouldn’t be surprised if Kia’s EV prices go up, at a minimum, to between $500 and $1,500 for next year’s models. For Kia’s plug-in hybrids, I would expect similar price increases, and in the case of electric vehicles and plug-in hybrids, I would also say that it is not unreasonable to think that the price increases could be even more substantial than my speculative estimates. For Kia’s hybrids, I’d estimate a smaller range of $100 to $1,000 increases due to smaller battery sizes and larger sales volumes to spread things out. For Kia’s standard gasoline vehicles (since Kia doesn’t sell any diesel models in the US), I would suggest the same price increase pattern we see for the Seltos and Carnival. Again, to be absolutely clear, my claims are pure speculation and I have no inside information on what additional price increases Kia may have in store, if any.
What do you think? Is it time to start adjusting your budgets if you’re planning on buying a new 2023 model year Kia? Would a price increase influence your decision on a new Kia in any way, and if so, how much of an increase might change your mind? Please leave your questions or comments below.
Images courtesy of Kia.
Justin Hart has owned and driven electric vehicles for over 14 years, including a first-generation Nissan LEAF, second-generation Chevy Volt, Tesla Model 3, electric bicycle, and most recently, a Kia Sorento PHEV. He is also a SUP enthusiast, poet, photographer and wine lover. He enjoys taking long EV and PHEV trips to beautiful, serene places with the people he loves. Follow Justin on Twitter for daily news coverage of KIA EV.
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