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Hyundai and Kia set aside $412 million for false mileage claims

We still don't know how the whole fuel economy ratings debacle is going to play out for Hyundai and Kia, but both automakers are preparing to make good on their promises to reimburse vehicle owners for lower-than-promised mileage figures. According to Automotive News, Hyundai and Kia have set aside a combined total of $412 million ($225 million for Hyundai and $187 million for Kia) as compensation, which will be sent out on a case-by-case basis via debit cards depending on the vehicle and the mileage driven.
Announced back in November, the exaggerated miles per gallon claims affect around 900,000 Kia and Hyundai products produced for the 2011 through 2013 model years sold in the US and Canada. This whole deal has had plenty of action ranging from suspected whistleblowing from a rival US automaker and even insider trading, but it has probably been most frustrating for vehicle owners who, in most cases, saw their vehicles' city and highway ratings drop between one and three digits.

Kia planning outdoorsy concept for Chicago

If you prefer vehicles with a more rugged look, then the 2015 Chicago Auto Show has quite a bounty in store. Mitsubishi will give the GC-PHEV its North American debut; Chevrolet will show the Silverado Midnight Edition, and Honda will unveil the next-gen Pilot and Acura RDX. Kia will be right along with them with its freshly announced rough-and-tumble concept for the event. Unfortunately, the Korean automaker is keeping tight-lipped about the vehicle, even the name. The brand promises the concept is based on one of its most popular models, and styling tweaks from Kia's California design studio mean a more off-road-ready appearance. When asked if the concept is a sturdier take on one of Kia's CUVs, a brand spokesperson told Autoblog, "I don't know if I would call it a crossover." The wait to learn the vehicle's true identity isn't too long, though. A teaser image and the name arrive on January 29, according to the spokesperson. We wouldn't be too surprised if Kia might not have a more rugged take on the Soul in mind. The model already gets an optional SUV Styling Pack (pictured above and below) in Europe that could serve as inspiration for this new concept. Kia Chicago Auto Show Announcement After 20 years of growth and maturation, Kia continues to carry its momentum into 2015 following a year of record sales and the arrival of the all-new 2016 Sorento CUV. Kia will embrace its challenger spirit in Chicago with the debut of an all-new concept – conceived at Kia's California design studio – that re-imagines one of the brand's most popular vehicles. Built for city dwellers seeking an adventurous escape and intended to enable a variety outdoor activities, this concept proves that practical urban wheels can also be rugged and capable. Related Video:

Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.