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Hyundai Motor's two R&D vice chairmen reportedly resigning

SEOUL — Hyundai Motor Group's two vice chairmen in charge of research and development have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of the sources added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since Hyundai promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group. The group has appointed new product strategy, design chiefs and replaced senior executives at its overseas operations, including China and the United States. The latest shake-up at the group, which includes Hyundai Motor and its affiliate Kia Motors, could be announced on Wednesday, one of the sources said. It is "part of a generational change Chung is pushing for," another person said. A Hyundai Motor spokesman declined to comment. The group's vice chairmen, Yang Woong-chul and Kwon Moon-sik, both aged 64, told senior officials on Tuesday that they would leave the company, the sources said, declining to say why they had offered to resign. Biermann, a former BMW performance vehicle development official, adds to a flurry of foreign executives that Chung, 48, has brought in to the company typically dominated by Koreans. In October, Thomas Schemera, also a former BMW executive, was appointed to lead product planning for autonomous cars, connected and electrified vehicles, while Luc Donckerwolke, a former Bentley design chief, was appointed to oversee design at Hyundai and Kia. Hyundai Motor's third-quarter net profit plunged by two-thirds, hit by U.S. recall costs that added to its problems. The automaker was already suffering with weak sales in its key U.S. and Chinese markets. Hyundai's share price is down more than 10 percent this quarter, despite a recent rebound driven by a share buyback plan announced on Nov. 30. Reporting by Hyunjoo JinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

U.S. appeals court preserves $210M Hyundai-Kia fuel economy class settlement

A U.S. appeals court restored a $210 million nationwide class-action settlement for hundreds of thousands of owners of Hyundai Motor Co and Kia Motors Corp vehicles whose fuel economy estimates were inflated. By an 8-3 vote on Thursday, in a case closely watched by class-action lawyers, the 9th U.S. Circuit Court of Appeals in Pasadena, California, said vehicle owners had enough in common to let them settle as a group. It also rejected arguments by owners opposed to the settlement that the claims process was too burdensome, and that lawyers for the class had colluded with the automakers to extract a "sweetheart deal" that undervalued their claims. The case began after the U.S. Environmental Protection Agency found flaws in Hyundai's and Kia's testing procedures, prompting the automakers to lower fuel efficiency estimates for about 900,000 vehicles from the 2011, 2012 and 2013 model years. Lawyers for objecting drivers had no immediate comment. Hyundai said it was grateful for the decision. Kia and its lawyers did not immediately respond to requests for comment. The decision by Circuit Judge Jacqueline Nguyen upheld a settlement approved in June 2015 by U.S. District Judge George Wu in Los Angeles. Wu "made careful findings, which the objectors here largely do not challenge, and which more than support the judgment," Nguyen wrote. The decision reversed a divided three-judge 9th Circuit panel's January 2018 rejection of the settlement and decertification of the class action. That panel said Wu failed to assess whether differences in state laws prevented certification of a nationwide class. It also said used car owners should have been excluded because it was unclear whether they had relied on the South Korean automakers' fuel economy claims. Lawyers had said it would become much harder to obtain nationwide settlements if the panel ruling stood. Nguyen had dissented from the panel ruling. Circuit Judge Sandra Ikuta, who wrote it, dissented on Thursday. Ikuta accused the majority of failing to determine what law should apply to the nationwide class or how the settlement, and thus attorneys' fees, should be valued. "The majority's failure to correct these errors may be beneficial for the class action bar, but it detracts from compliance with Supreme Court precedent," Ikuta wrote. The 9th Circuit covers nine western U.S. states, Guam and the Northern Mariana Islands.

Next-generation Kia Soul spied with old box shape, new split headlights

The current Kia Soul has been around since the 2014 model year, and Kia has kept the little box fresh with the introductions of electric and turbocharged variants, the latter of which appeared for the 2017 model year. But based on these spy shots, Kia is preparing a more thorough redesign of the hatchback/quasi-crossover. Though Kia has covered the front and rear of the new Soul carefully, the middle section gives it away as the favored transportation of anthropomorphic hamsters. Also, while there are indications there will be significant design changes, the basic formula won't change. It will still have a really thick D-pillar, darkened A-pillar and a roof that gets thinner toward the front. The roof itself also looks a bit taller, although perhaps its just the rear windows that have gotten smaller. It appears the front fascia and windshield will also retain a similar amount of rake to the current models to prevent it from looking overly boxy. The front end, as camouflaged as it is, also reveals a major lighting change. Instead of the very large headlamps of the last two generations, the forward lighting will be split in two, and the primary illumination looks to be coming from the lower elements. This design follows in the footsteps of Hyundai's Kona and upcoming Santa Fe, as well as the Nissan Juke and previous Jeep Cherokee. The upper elements also look as though they sit lower in the fascia than on past models, perhaps to give the new Soul a more aggressive look. The back is also thoroughly covered up, but we can tell that the high-mounted taillights in the D-pillars will continue. It also looks like they wrap around the bottom of the rear glass this time. This is the first time we've seen the new Soul, and Kia hasn't said much about its plans for the car. We expect that it will continue to offer at least one naturally aspirated engine, if not two as it does currently, and a peppier turbo model. We would also suspect that all-wheel drive will be on the table to better compete with sub-compact SUVs like the Jeep Renegade and Honda HR-V, which have virtually the same body style as the tall, boxy Soul. Many already consider them rivals and Kia has even hinted at the possibility with its Trail'ster concept. We'll be keeping an ear to the ground, and an eye on the rear ends of Souls, to learn more in the future. Related Video: Featured Gallery Kia Soul spy shots View 11 Photos Image Credit: Brian Williams Spy Photos Kia Crossover Hatchback Economy Cars