Kia offers several excellent models in its lineup. But like other automakers, the South Korean car manufacturer is facing supply chain issues. As a result, new cars are in short supply and seeing dealer markups. Here’s a look at why you should avoid the 2023 Kia K5 if you’re looking for a good deal on a new car right now.
Most new Kia models are selling well above MSRP
For various reasons, new cars are selling for much higher than the manufacturer suggested retail price (MSRP). One reason is the supply chain fiasco, from which automakers are still untangling themselves. Inflation is another reason, and car companies can’t do much about that issue.
As of November 2022, the average new car price in America had risen to just under $49,000. That’s a $2,250 increase over the previous year. But that’s only the industry average — some models have seen much more significant prices increase than others. Unfortunately for Kia fans, many of those models are Kia vehicles.
For example, the Kia Carnival minivan is the only vehicle selling for 20% over MSRP, according to Consumer Reports. And the Kia Sportage Hybrid, Kia Sorento Hybrid, and Kia Telluride are selling for 18% over their MSRP. Hyundai, which is associated with Kia, has also seen similar price increases.
The 2023 Kia K5 is a good car that’ll cost you
These price increases also affect smaller models, such as the 2023 Kia K5. For example, the K5 GT-Line as a starting MSRP of about $28,000. But in the real world, it’s selling for just under $33,000 on average. That’s $5,000 over MSRP — a 17% difference.
It’s unfortunate because the Kia K5 is a good midsize sedan that Consumer Reports recommends. It starts with a 1.6-liter turbocharged four-cylinder engine making 180 hp. Upgrading to the GT trim brings a 2.5-liter turb-four producing 290 hp. But the standard engine is potent enough for daily driving and gets an impressive 32 mpg combined.
The GT engine turns the K5 into an affordable sports car. It also provides many interior features, starting with a 8.0-inch touchscreen. The GT-Line upgrades the touchscreen to 10.25 inches. Kia also gave its 2023 midsize sedan a host of tech features, including wireless Android Auto and Apple CarPlay integration.
Ggood alternatives to the 2023 Kia K5
Although the 2023 Kia K5 is a good car that doesn’t offer many goods deals right now, you can find other excellent midsize sedans that aren’t selling for astronomical prices.
For example, the 2023 Nissan Altima starts at about $25,000, and it doesn’t appear that buyers are paying well above the sticker price.
In addition, midsize sedan shoppers should consider the 2023 Honda Accord and 2023 Toyota Camry. The Accord and Camry have dominated the segment for years. Both start at around $26,000, and like the Altima, neither seems to be seeing massive markups.