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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:

Kia Forte and Forte5 bring fresh new duds to Detroit

The Telluride concept may be the biggest news from Kia in Detroit this year, but it's not the only new metal the Korean automaker has on display at Cobo. Alongside it, Kia also rolled out new versions of the Forte. As before, Kia offers the Forte in both sedan and Forte5 hatchback trim, and each got its own set of updates. Both feature distinct front-end styling, with a tiger-nose grille that stretches width-wise to join the more angular headlights and more closely resemble the snout on the all-new Optima. The sedan and hatchback also feature their own unique LED taillights. And inside they both feature a new 7-inch infotainment display powered by Kia's UVO system, soon to support Apple CarPlay and Android Auto. The Forte now comes in three trim levels – based LX, loaded EX and a sporty S (in between the two on the sedan) or SX (at the top of the line for the hatchback). Of course, the sedan ends with a trunk at the back and the hatchback with a liftgate, but they also receive slightly different powertrain options. Every version comes with a 2.0-liter inline four mated to a manual or automatic transmission with six speeds – save for the Forte5 SX. That remains the enthusiast's choice with a 1.6-liter turbo, mated to either a six-speed manual or a new seven-speed dual-clutch transmission. All that's left now is for Kia to reveal the new two-door Forte Koup, but we'll have to hold on for that to come at a later date. In the meantime, you can scope out the live images of both new models from the floor of the Detroit Auto Show, and watch the full Kia press conference with live reaction below. 2017 Forte overview Compact Sedan Receives Updated Design, New Powertrain and Advanced Tech, Including Android Auto and Apple Car PlayTM - 2017 Forte adds 2.0-liter engine, plus updated six-speed automatic transmission - Advanced driver assistance features including Autonomous Emergency Braking, Rear Cross Traffic Alert, Front Collision Warning, and Dynamic Bending Lights3 are newly available - Sporty S trim pumps up Forte's sport factor with exclusive interior and features Irvine, Calif., Jan. 11, 2015 – The Motor City today got an up close look at the refreshed 2017 Forte when Kia Motors America pulled the silk off the updated compact sedan at the North American International Auto Show in Detroit.

Kia Rio officially priced at just under $15,000

The completely redesigned Kia Rio goes on sale early next month, and Kia has finally released pricing for the whole range. Based on the current destination charge of $895, the cheapest Rio will start at $14,795. That's for a base-model LX sedan. Picking a hatchback adds $300 to price of any trim level Rio. The mid-level S starts at $16,995 for the sedan, and the EX sedan starts at $19,295. View 21 Photos This pricing closely matches that of other major small-car competitors. The LX sedan actually undercuts the base prices of the Chevy Sonic, Honda Fit and Nissan Versa Note. It's also only a bit higher than Ford Fiesta and Mitsubishi Mirage. But as we mentioned in our review of the Rio, it's probably best to skip the LX trim level, even if you're a manual transmission die-hard. It lacks key convenience features such as power windows, cruise control, telescopic steering wheel, and adjustable head rests. None of these can be optioned in, either. As a result, it's best to spring for at least S trim level, which is roughly on par with Sonic, Fit and Versa Note. We find that at this trim level or higher, the Rio is a strong option. It might be a little short on space and power, but it's handsome, has a pleasant interior, and is surprisingly adept in the handling department. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Kia Rio sedan View 12 Photos Image Credit: Kia Kia Car Buying Hatchback Economy Cars Sedan pricing kia rio