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Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

2018 Kia Stinger GT Long-Term Review Update | It's an ideal grand touring car

When you think GT car, you probably conjure up images of European sports coupes. Aston Martin DB11s, Ferrari Portofinos and the like. Surely you think of the Maserati Gran Turismo, its name literally being the long form of GT. They all share some key features. They're incredibly beautiful and stylish, they're very fast and they're actually reasonably comfortable and practical. You know what else fits that description? Our 2018 Kia Stinger GT. It nails all those criteria, and for a heck of a lot less money than those exotic coupes. First off, the Stinger GT is arguably the most distinct and exciting car in its small-to-midsize luxury sport sedan segment. It looks hunkered down over its massive 19-inch wheels. The proportions are proper with a long nose, short deck, and plenty of space between the front wheels and the base of the windshield. Its fastback shape both evokes classic coupes while also disguising its practical hatchback. It's a car with real presence wherever it goes, and the fact that it isn't selling in Camry numbers means that it's still rather cool to see one in the wild. In fact, when I came back from one of my press trips and was on the airport shuttle back to the parking lot, the driver became really excited when he saw I was driving our Stinger. He started asking me questions about it and how much he loved it when he saw it at the last Detroit Auto Show. So that's style nailed down. As for performance, the Stinger GT has plenty of that, too. Even though it's been in our fleet a few months, the twin-turbo V6 still impresses with its 365 horsepower and 376 pound-feet of torque. After just a minute delay when hitting the skinny pedal, boosted power hits with a rush, and of course that power is available throughout the rev band, meaning you never have to work the engine hard to go fast. It's coupled with an extremely composed chassis that doesn't lean too much, and is happy to leap into action at the behest of the very quick steering wheel. This all-wheel-drive model does feel a little less quick to turn in than the rear-drive model we had earlier this year, but it does also provide a certain feeling of security if the rear gets loose. Its big Brembo brakes bring the Stinger to a halt in a hurry, too, and with solid brake feel. It's all good enough that senior editor Alex Kierstein took one to a racetrack. The biggest issue I have with the car is the transmission.

Kia Soul EV starts production next month amidst modest sales projections

The hamsters in those Kia Soul commercials? Looks like they'll be riding real quiet and quite clean a little sooner than we thought. Kia is now saying it will start production of the 2015 Soul EV next month, and sales will start later this year in the company's home country of South Korea. Additionally, according to Reuters, Kia is keeping sales expectations low, suggesting it should sell about 5,000 Soul EVs a year at a price of around $39,000, though the out-of-pocket costs should be cut in half because of South Korean government subsidies. Kia's taking a somewhat conservative approach to its early sales target as it focuses largely on the US and Europe during its first phase, said Kia spokesman Michael Choo. "We are currently conducting launch feasibility studies for the secondary phase of Soul EV introduction and plan to expand sales to other countries at a later stage," he said. "Hence, we believe the sales volume of the Soul EV will steadily grow following our initial full year of sales." As for the US, Kia spokesman James Hope tells AutoblogGreen that while the company hasn't set a definitive debut date, "we are targeting Q3 of this year." Hope says Kia isn't providing Soul EV sales guidance for the US, so we'll just have to see where the EV chips fall come September or so. Reuters also notes that sister company Hyundai will start selling its own battery-electric vehicle in 2016, a timetable confirmed by Hyundai Senior Vice President Lee Ki-sang. Both Kia and Hyundai are shooting for a South Korean electric-vehicle market that they hope will expand exponentially from a total of just 713 sales last year. The front-wheel-drive Soul EV will have a 81-kilowatt electric motor, and its single-charge range will be about 120 miles. The model was first shown off at the Chicago Auto Show last month, but Autoblog scored an early prototype test drive ahead of the reveal – check out our feature drive report here. Kia Motors shows Soul EV and next-generation hybrid powertrain at Geneva Show (SEOUL) March 4, 2014 -- The new Kia Soul EV made its European debut at the 84th Salon International de l'Automobile in Geneva, Switzerland, today alongside a special technology exhibit of the brand's next-generation hybrid powertrain.