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Rumor suggests Kia Soul EV replacement will not come stateside

The replacement for the Kia Soul EV may not come to the United States after all. Despite the company's plans to introduce it here last year, presumably as a 2020 model, a Kia source has reportedly told Roadshow that plans to bring the next-generation compact electric hatchback to the U.S. have effectively been canceled. While Kia has not officially commented on the current status of the Soul EV, its delayed introduction is a troublesome signal to those who hoped to see the second-generation electric hatchback on U.S. dealer lots. While a delay of just a year is fairly minor compared to what we've seen from some promised introductions in the past decade (looking at you, Mazda), this rumor — combined with the lack of official updates from Kia — is nonetheless concerning to those who were excited by the prospect of Kia's small EV returning.  The Soul EV has been on sale in Europe since late last year. It can drive for up to 243 miles on a single charge, which is about double that of the last-generation model. Kia originally blamed the delay on supply issues related to its battery pack, which it shares with the Hyundai Kona Electric, and Kia Niro EV. Roadshow speculates that priority is being given to the Niro here in the United States, as it is already on sale and its crossover format gives it an advantage with American buyers. When reached for comment, a Kia spokesperson confirmed that the company is focused on Niro EV deliveries and that the Soul EV is not expected to arrive any sooner than 2021, but stopped short of confirming that it is currently on track for release next year.  If this rumor turns out to be accurate, it will be a blow to the compact electric car segment, as the Soul EV looked to be a highly competitive entry, with more polish and refinement than the Chevrolet Bolt and a healthy range advantage over the Nissan Leaf.  Related Video:

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.

UPDATE: 2021 Kia K5 name confirmed in fuel economy listing

UPDATE: Additional Kia K5 fuel economy data has been added to the FuelEconomy.gov website. It includes two sets of fuel economy numbers for what seems to be front-wheel-drive trims of the 1.6-liter turbocharged K5. You can find those numbers in the updated text below. The website has also seemingly removed the numbers for the all-wheel-drive version, but those are still present in this article. We've already seen Kia's new midsize family sedan, but details about it are still being fleshed out, including what it will finally be named. Based on a listing at the EPA's FuelEconomy.gov website, it seems the sedan will officially be known as the 2021 Kia K5, dropping the old Optima name. Besides the name, we also get snippets of information about one engine in multiple configurations. The engine in question is a turbocharged 1.6-liter four-cylinder, likely the same engine found in the Hyundai Sonata, which makes 180 horsepower and 195 pound-feet of torque. The Hyundai uses an eight-speed automatic transmission, and the Kia probably will, too. With what is likely the front-drive model, the K5 will get 29 mpg in town, 38 on the highway and 32 combined. There's also a version that gets slightly worse economy at 27 in town, 37 on the highway and 31 in combined driving. It's probably a heavier, more well-equipped trim. Both versions do get better fuel economy than the Sonata with the same engine (27 city / 36 highway / 31 combined). The third set of numbers is for the all-wheel-drive version, which will be unique to the Kia. According to the listing, it returns 26 mpg in the city, 34 on the highway and 29 in combined driving. Though all these numbers are for the 1.6-liter, there is another engine coming, which Kia has also previously said will be another turbocharged engine. It will probably be the 2.5-liter for the Sonata N-Line with 290 horsepower and 310 pound-feet of torque. With the Kia K5's option for all-wheel drive, it will join a growing group of midsize sedans with the drivetrain: the Subaru Legacy, Nissan Altima, Toyota Camry and the soon-to-be-discontinued Ford Fusion. Based on the engine size and output, this Kia K5 will be a direct competitor to the Altima and Camry, as well as the Legacy with the naturally aspirated engine. Depending on trim levels, the K5 ties or beats the Camry, which returns 28 to 29 mpg combined. The Altima returns 29 to 30 mpg combined depending on trim level, and the Legacy hits 30 mpg. Related Video: