2021 Kia Soul S on 2040-cars

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Hyundai, Kia warn of $2.9B earnings hit over engine issues

SEOUL — Hyundai Motor and affiliate Kia Motors warned of another $2.9 billion of provisions related to engine issues, bringing their total hit from the years-long quality problem that has tarnished their credibility to nearly $5 billion. Hyundai Motor Group said on Monday their third-quarter earnings would reflect quality-related costs of a combined 3.36 trillion won ($2.94 billion), of which Hyundai accounted for 2.1 trillion won and Kia for 1.26 trillion. Hyundai and Kia, together the worldÂ’s No.5 automaker, recalled nearly 1.7 million vehicles in 2015 and 2017 in one of their biggest recalls in the United States, citing an engine failure that raises the risk of crashes. In 2017, U.S. safety regulators began to investigate if the recalls had covered enough vehicles and were done in a timely fashion. That followed concerns reported by a South Korean whistleblower, a former quality official at Hyundai, to the U.S. National Highway Traffic Safety Administration (NHTSA). Hyundai was being investigated by U.S. prosecutors over whether vehicle recalls were conducted properly, Reuters reported in 2018. From 2017 to 2019, the two firms have earmarked a series of provisions mostly to address engine-related issues, which amounted to about 2.04 trillion won, according to Reuters' calculation. The latest provisions reflect higher-than-expected replacement rates for Theta II GDi engines of old vehicles subject to recalls, as well as growing consumer complaints over the same engine and other engines not subject to recalls, Hyundai said. The engine is in a wide variety of vehicles. "Hyundai has repeatedly said it does not see any more costs related to the Theta II engine issues, and the latest recall would deal a fatal blow to Hyundai's credibility," Sean Kim, an analyst at Dongbu Securities said. "I am worried." He expected Hyundai and Kia to swing to losses for the quarter from July to September, hit by the provisions. Hyundai Motor closed down 2.3% and Kia Motors ended down 1%. ($1=1,141.42 won)   Earnings/Financials Recalls Hyundai Kia

Kia compact crossover caught completely uncovered, and it's called Seltos

Kia has been teasing a new, global small crossover with some sketches the past couple of weeks. Now we get to see the actual crossover — called the Kia Seltos — completely unveiled well before the actual reveal. It seems to be sized between the Kia Soul and the Kia Sportage. The photos also show that the drawings Kia released were clearly of the production car. Everything looks nearly identical. It also leans on many current design trends such as a black or contrasting-color roof separated by metallic trim, faux metallic skid plates on the bumpers, and a rising window line at the back. The car has more lines and creases than most of Kia's relatively organic designs of late. The headlights and taillights do have lots of nice detailing, though this is probably a high-level model, and those details may be lost on lower trims. We don't get a look at the interior, but if it's as faithful to the teaser images as the exterior, it should look fairly typical for a Kia. It will have a fairly low, horizontal dash with a large screen protruding from the middle. It looks as though a newer widescreen will be available, which we've seen in the Kia Telluride and K900. Considering the size of the Seltos, it would seem plausible for it to share the naturally aspirated 2.0-liter and turbocharged 1.6-liter engines from the Kia Soul and Forte. The naturally aspirated engine makes 147 horsepower and 132 pound-feet of torque, and the turbo engine makes 201 horsepower and 195 pound-feet of torque. As in those other Kias, the 2.0-liter engine would probably get a CVT while the 1.6-liter engine would likely get a dual-clutch transmission. All-wheel drive is also probably on the table, though we'll have to wait to see if it's offered on every trim and powertrain combination. Kia said the reveal will be this summer, so we may be waiting a couple more months for all those details.

Rumored Kia Soul EV spied for the first time

Up until now, we've only heard rumors about an all-electric version of the second-generation Kia Soul, but these spy shots seem to confirm that the Korean automaker is developing a zero-emission version of its quirky little box-back. Our most recent report has the Kia EV showing up in the first half of next year (likely for MY 2015) with a starting price of around $35,000 (presumably before tax credits) and a range of about 120 miles.
While the front and rear of this prototype remains heavily camouflaged, we can see some differences between this car and the 2014 Soul we saw earlier in the year at the New York Auto Show. For starters, the entire front end seems to be changed, including the hood, headlights and fascia, and we would expect Kia's so-called Tiger Nose grille to be blocked off for improved aerodynamics. Further supporting our shooter's claims that this is an electric vehicle is the fact that the Soul's exhaust pipe is missing from beneath the rear fascia.
Previous reports have indicated that the Soul EV will become "the very-first electic vehicle to be sold in the global market, including the US, Europe and China." It would appear that claim may be validated by technicality only - Nissan sells its Leaf in the US and Europe, and it will reportedly be sold as the Dongfeng Fengshen E30 in China.