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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:

2017 Genesis G90 signals Equus' evolution

As predicted, Hyundai's executive-level Genesis EQ900 has crossed the Pacific to make its big debut at the 2016 Detroit Auto Show. Known in the North American market as the Genesis G90, the first-ever vehicle for the new Genesis brand will occupy the same position as the old Hyundai Equus at the top of the heap. That means lots of interior space, most of which is finished in luxurious materials and stuffed full of technology. From the lone interior image Hyundai sent out, the cabin is clearly an evolution of the Equus' aesthetic. There's a large swath of real wood on the dash, which is topped by Nappa leather. The expansive center display sits atop a high, curving transmission tunnel that houses the traditional knob-and-dial controller for the infotainment, as well as the shift lever and HVAC buttons. Hyundai stretched the G90's wheelbase by 4.5 inches over the old Equus, but in the process, it removed an inch of backseat legroom. Now there's only 37.8 inches in the second row, which doesn't compare favorably to the 42.9 inches in the back of the Audi A8L or the 43.1 inches offered in the Mercedes-Benz S-Class. Unlike the EQ900 that was shown early last month, the US-market G90 will only offer a pair of engines. On the one end, we have a 3.3-liter, twin-turbocharged V6, capable of 365 horsepower and 376 pound-feet of torque. The 5.0-liter V8 from the Equus will be offered too, and it still churns out 420 hp and 383 lb-ft of torque. But with peak twist from the V6 model available between 1,300 and 4,500 rpm and less than 60 horsepower difference between the two engines, it sounds like the smaller engine will be the one to have, especially if it proves significantly lighter (Hyundai hasn't published the G90's weight yet). Both engines are paired to eight-speed automatic transmissions and can be paired with Hyundai's H-TRAC all-wheel-drive system. Look for more on the new G90 from its Detroit debut. And in the meantime, head over to our December 9 report on the new flagship model for more on Peter Schreyer's design and the safety equipment.

2018 Hyundai Kona is coming to the U.S.

The 2018 Hyundai Kona crossover is officially coming to the U.S. It’s HyundaiÂ’s first B-Segment crossover for the U.S. market. The Kona is scheduled to be at dealerships in the U.S. in early 2018. For more coverage of the 2017 LA Auto Show head over to https://www.autoblog.com/la-auto-show/ LA Auto Show Hyundai Autoblog Minute Videos Original Video 2017 LA Auto Show hyundai kona