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Hyundai, Kia ratchet up fleet sales as retail transactions slide
Tue, 16 Apr 2013Automotive News reports both Hyundai and Kia have stepped up fleet sales in an attempt to offset disappointing first quarter results. The Korean automakers saw their sales decline by nine percent compared to last year, while all major competitors managed to increase their sales. That situation marks an inversion of two years ago, when both gained ground after Japanese rivals suffered production and inventory shortages after the country's earthquake and tsunami tragedies.
Now, Hyundai can't come up with enough volume models in popular trim configurations to satisfy buyers, and lower-volume models are also in a snag. At the moment, Hyundai can only build 20-30 percent of Veloster hatchbacks with turbocharged engines while the US market would apparently support closer to 70 percent.
In order to reverse the sales slide, Hyundai and Kia have stepped up fleet sales of the vehicles they do have by some 50 percent, ringing up a total of 42,400 units in the first quarter. By contrast, Automotive News reports the seven largest automakers increased retail volume by seven percent and fleet sales by four percent as a group.
2020 Kia Telluride is an American-made SUV, for America
Tue, Jan 15 2019Given consumers' ravenous appetite for them, it's little surprise that Kia is introducing a larger, more upmarket SUV in the Telluride as the newest entry in its lineup. But the automaker turned to classic SUVs of yesteryear as influences for the intentionally boxy and very American design that it hopes will translate with consumers. Dubbed a midsize by Kia, the Telluride will slot above the entry-level, compact Sorento as the flagship of the Korean automaker's utility-vehicle lineup. Michael Cole, Kia's North America chief operating officer, said the midsize segment is forecast to grow from 1.6 million units sold in the U.S. in 2018 to 1.8 million in five years. "This was somewhere we needed to be," he said. It's also the first Kia designed specifically for the U.S. market, with its off-road features like on-demand electronic all-wheel drive transferring torque between the front and rear wheels and its strong, stiff body, further emphasized by its unveiling in Detroit on a landscaped "torque track" assembled in surplus space on the Cobo show floor. It'll also be built at Kia's plant in West Point, Ga. "It's very much a U.S.-targeted vehicle," Cole said. "We will have some export. But the message is, made in America, made for America, it's a U.S.-centric car." Designers at Kia's design center in Irvine, Calif. "wanted to get back to a traditional SUV styling," Chief Designer Tom Kearns said. "So many EVs and SUVs these days are trying to look sporty and more car-like, more sedan-like. We didn't want to go with that approach." Kearns said his design team members referenced old-school SUVs like the Ford Bronco, old Land Rovers and the original Chevrolet Blazer when creating the Telluride, Kia's largest SUV yet. "It's not retro, but we like the genuine feel and look, the purity of old-school SUVs with the long hoods, little bit more upright windshield, not a lot of glass angles, tumblehome a little more upright, just feels more purposeful and genuine to us," he said. "Our goal is very clean, very simple, not a lot of ornamentation, just a pure, nice form that's hopefully conveying a clean, functional appearance." Inside, the designers took largely the same approach, with a clean console that emphasizes horizontality and width, matte-finished wood and simulated brushed metal accents and big grab handles flanking the shifter that emphasize the vehicle's sense of adventure.
Senator calling for answers from Hyundai and Kia over MPG debacle
Fri, 30 Nov 2012Hyundai and Kia have already gone public with plans to make good on the inflated fuel economy claims scandal that has rocked both companies in recent weeks. But one US senator, Jay Rockefeller (D-WV), is skeptical that the general public will see much good from the proposal, and he's looking for answers.
To recap: Hyundai/Kia have agreed to compensate owners of 900,000 affected vehicles for real versus previously claimed fuel mileage (as well as adding in a one- fifteen-percent premium), by way of pre-loaded debit cards. It has been speculated that this payout could crest $100 million by the time the Korean automakers are done writing checks.
Said Rockefeller to The Detroit News, "While I believe this is a positive step, I am concerned that many affected customers may not learn about the program or may find it burdensome to participate in the program." Rockefeller would reportedly like to see a monitoring system for the paybacks more clearly defined, with the goal being as many wronged car buyers as possible getting the recompense that they're due.
