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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:

Hyundai CEO touts new EV platform with mention of a pickup

A couple of years ago, one of the prominent concerns about a saturated EV auto-scape was how carmakers would accentuate brand differences among vehicles converging on a frightening sameness. The cars wouldn't make any noise, they would all emphasize aerodynamics, and they would all basically ride on a battery pancake. So far, the fears have been avoided; a Volvo XC40 Recharge won't be confused for a Ford Mustang Mach-E, for instance, and the Ford won't be confused for a Tesla Model Y. Not only that, but automakers are developing platform strategies that heighten the sameness among vehicle architectures because the architecture is where the expenditure and the profit are greatest. Hyundai's the latest to outline its plans for investors. And part of Hyundai's plan could include adding a full-size electric pickup to the range. The mid- to long-term roadmap is called the Hyundai Motor Way, recently revised with higher targets thanks to the swift uptick in EV sales globally. Business Korea wrote Hyundai Motor Group (HMG includes Kia and Genesis) sold 510,000 battery-electric vehicles in 2022. The conglomerate says it now plans to sell two million EVs annually by 2030, up from a previous estimate of 1.87 million.      The platform that will help make this possible is called eM, an evolution of the current Electric Global Modular Platform (e-GMP) platform under HMG's current EVs. The eM architecture's been rumored to launch under a Kia sedan that might be a spiritual successor to the Stinger. So far, eM is planned for 13 models across the HMG portfolio, using the Integrated Modular Architecture (IMA) that can plug-and-play with more than 80 common modules serving different vehicle segments and sizes. HMG president and CEO Jaehoon Chang said, "In the second-generation platform, the scope of vehicle development extends beyond the mid-sized SUVs covered by the current E-GMP system. It encompasses nearly all vehicle classes, ranging from small and large SUVs to pickup trucks, along with the flagship models of the Genesis brand." Sure, Chang could have been merely noting the eM's potential use cases when he mentioned "pickup trucks." That's not how observers are reading the line. At Kia's investor day last year, the brand said it planned two electric pickups. There have already been reports that Kia's working on a body-on-frame pickup for the Australian market, perhaps called Tasman, utilizing gas and electric powertrains.

2019 Kia K900 First Drive Review | The Stinger GT grows up

The Kia K900 has been an afterthought in the luxury market almost since it was launched about 4 years ago. Or maybe a never-thought. Through September of this year, Kia sold just 260 examples, which was about 90 fewer than the same time last year. And with sales like that, most of us figured Kia would just let the model quietly disappear into the ether, especially with the launch of the new Genesis luxury brand, and Kia's new halo, the Stinger. Considering the car's yacht-like demeanor and forgettable looks, we wouldn't have missed it. Yet Kia is determined to keep the K900 alive in America, and has introduced a completely redesigned model. Perhaps even more surprising than the fact that the model is back, is that it's actually quite good. Think of it as a bigger, more plush Kia Stinger. That may be hard to believe by just looking at it. While it's certainly better proportioned than its predecessor, with a body that highlights its rear-drive bones, it's boring. It hides its roots well, not getting the onlooker excited or leaving a major impression. There's hardly a sharp crease or bold character line to be seen – a stark contrast to the fierce, outre Stinger. It doesn't even look much like other Kias, which all share a family resemblance in their grilles and athletic stance. The K900 is a lot larger than the Stinger, too. The wheelbase is about 8 inches longer, and overall length is up by nearly a foot. Width and height are greater by roughly 2 and 3 inches respectively. This all puts the K900 in the size territory of full-size luxury flagships, but Kia says it's targeting buyers of midsize luxury sedans such as the Audi A6 and BMW 5 Series with a price of around $60,895 for the base model, and $64,895 for the VIP model. These are close estimates. It's a "more for your money" sort of argument, but there are more direct competitors to the K900 that muddy the water, like the Volvo S90, Lincoln Continental, and Cadillac CT6. On paper, all three seem to be compelling options to the K900 with lower base prices, similar size, and more distinctive styling. But the K900 has a major power advantage with its standard 365-horsepower twin-turbo V6. The S90's standard engine makes just 250 horsepower, and the optional non-hybrid engine just makes 316 horses. To beat the Kia, you have to get the hybrid S90 with 400 horsepower, and a base price of over $64,000.