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Nuclear deal could make Iran next big car market

Iran is a huge and hugely appealing target for Western firms - it's population is nearly the size of Germany's, it is well educated and includes a substantial middle class, and there is a built-in industrial capability. Because of the sanctions that have been in place for nearly five years now over its nuclear program, however, its citizens and domestic industry haven't been able to purchase and expand, so investment opportunities are not only manifold, they are severely undervalued. Most of the auto industry has been sitting on the sidelines waiting for the Iranian game to start. A report in Automotive News says that Iran's two automakers, Iran Khodro and SAIPA - Societe Anonyme Iranienne de Production Automobile - produced one million light vehicles last year for 77.5 million people. According to Wikipedia there were 200 vehicles per 1,000 citizens in 2012, and that was before the industry took a nosedive. That number puts it between Uruguay and Jamaica. Chery, Kia, Peugeot, and Renault were the carmakers with major operations in-country before all but Chery pulled out. In the vacuum, Chery and other Chinese automakers have thrown lots of product at the market, getting 27 models in a range of segments built or supplied there, with results that are probably best described as ambivalent among observers but financially lucrative for the Chinese. Peugeot has re-established ties, and Kia, Mercedes-Benz, Peugeot, Renault, Toyota, and Volkswagen were attendees at the Iran Auto Show last November. The domestic companies say that this time they want local investment that includes technology transfer, so the Western carmakers that do decide to get in will find tougher negotiators than before. Peugeot, for instance, had a 51-49 partnership with Iran Khodro before pulling out; the new agreement is a 50-50 venture. As a 'gift' to the world for a final deal that encourages global investment, Bloomberg says that the price of crude would go down by $15 per barrel. News Source: Automotive News - sub. req.Image Credit: Atta Kenare/AFP/Getty Images Earnings/Financials Government/Legal Kia Peugeot Renault iran sanctions khodro

Kia considering tiny EV to give commuters an alternative to taking the bus

One of the more unexpected side effects of the coronavirus pandemic that's wreaking havoc on society is that public transportation is no longer being stubbornly celebrated as the solve-all alternative to driving. Commuters are afraid of catching the virus in a bus, and this trend is encouraging automakers to consider adding small, urban-friendly electric cars to their portfolio. Kia could jump into this segment to rival Citroen's $22-a-month Ami. "People want to feel safe today. We saw that clearly from a survey that was done after coronavirus in China, which showed people had moved from public transportation to private transportation," explained Emilio Herrera, the chief operating officer of Kia's European division, in an interview with British magazine Auto Express. He added 34% of respondents used private transportation before the virus began to spread; that number went up to 65% once the lockdowns and stay-at-home orders began to ease. Kia expects to see a similar shift in Europe and in North America, and Herrera said his team is "studying a proposal on having very small micro vehicles for urban use." He sees a real potential in this segment, and he has already looked at the aforementioned Ami. Electrification is key in this corner of the industry. First, it's difficult to develop a car the size of a golf cart if you need to package it around a 4.0-liter straight-six. Second, these vehicles are aimed specifically at urban users, and big cities in Europe and in Asia are increasingly kicking out non-electrified vehicles. Kia's pocket-sized car would be primarily used for short trips, and it would never venture farther than a few hundred yards away from a charging station, so it doesn't need a headline-grabbing driving range to be practical and usable. The 1,070-pound Ami is fitted with a 5.5-kilowatt-hour lithium-ion battery pack that delivers up to 43 miles of range. Rivaling public transportation is easy when it comes to comfort and convenience, but it's far more difficult when cost enters the equation. Taking the bus is cheap, so Kia's electric car needs to be almost as inexpensive. Citroen cracked the code: in France, the Ami costs about $6,600 to buy, $22 a month to lease, or 30 cents a minute via an app-based car-sharing program. Kia envisions users will be able to rent its competitor for a week or for a month via a subscription service "at very low monthly prices," though it stopped short of providing a dollar figure.

Why Kia doesn't need a premium brand

Hyundai's creation of the Genesis luxury brand means it and fellow Korean brand Kia have finally hit the mainstream in the U.S. – as far as products are concerned – after nearly three decades of trying. Which is about as long as it took Toyota and Nissan to roll out Lexus and Infiniti, respectively. It's history repeating itself. Genesis is supposed to be the way Hyundai's premium models get the respect they deserve, without carrying the baggage of a name associated with frugality. Hyundai has, in fact, built up a reputation over the last decade or so for cars that compete head-on with class leaders, rather than aim to be 90 percent as good for 75 percent of the price. And because Kia shares a number of components with Hyundai, its vehicles have also steadily become not only better mainstream vehicles, but have continued to aim higher than their price points. Does Kia need to follow now in its parent's steps with a prestige brand to market its most expensive models? I'm aware of the Kia K900, the company's deepest foray into luxury territory notably occupied by Lexus. Kia, however, has consistently been pushing this $60,000 full-size luxury sedan along with $0 down, low monthly payment lease deals. Turns out there really aren't many people looking for a full-size Kia luxury sedan. Or maybe they're just waiting to get it for $20,000 in a couple of years. Consider the K900 and Genesis when I convince you Kia already makes upscale cars to rival those with premium badges. They just don't happen to be its most expensive model. Shortly after Hyundai's announcement it would spin its luxury models off into the Genesis brand, I spent a few days with a 2016 Kia Sorento SXL. And I'm willing to call it a more convincing attempt to get people out of luxury cars than the K900. Driving the Sorento is not an emotional experience. You feel parental driving it, thinking you might've forgotten to pick your kids up until you remember you don't actually have kids. But after settling into the nicely stitched and perforated leather seats, you respect its comfort, quiet and amenities. The headliner is soft, the stitching on the dash top is convincingly real and everyone is impressed by the sharp graphics on the touchscreen and the slick powered shade that reveals an expansive glass roof. A Kia Sorento costing more than $46,000 sounds absurd until you wonder how much better an Acura MDX or Lexus RX350 is when those cost as much as $10,000 more.