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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 hydrogen fuel-cell SUV spied nearly naked

Back in August, Hyundai showed what seemed to be an extremely thinly veiled concept version of a hydrogen-powered crossover SUV at a special event in Seoul. Besides its showy gold paint and two-toned interior, it definitely looked like something that could roll down the production line with minimal effort. Well, judging by these spy photos, that looks like it'll be the case. Hyundai didn't even really bother to camouflage these test mules. The intricate taillight clusters carry over from the concept, as do the distinctive grille and Tesla-like extending door handles. Heck, even the wheels look to be exactly the same. And if we were to make a guess based on its proportions and size, this shares a lot with the Kia Nero. Featuring Hyundai's fourth-generation hydrogen fuel-cell technology, the FCEV (or whatever the compact crossover will eventually be called) features a 20 percent power increase over its Tucson hydrogen FCEV predecessor and is more capable in cold weather. The new FCEV will also have greater hydrogen capacity, featuring three tanks instead of two. (If you want to learn a little more about how hydrogen fuel cell vehicles work, our Honda Clarity first drive is a decent place to start.) The spy photographers didn't get a glimpse inside, but the "concept" back in August showcased a pretty production-looking cabin. If the exterior's any indication, it should look exactly like that. We've included pictures of that "concept" at the end of the gallery above so you can easily compare the "transformation." Expect the final product to be unveiled at CES in January. Related Video: Featured Gallery Hyundai FCEV Hydrogen SUV Spy Shots View 19 Photos Image Credit: KGP Photography Green Spy Photos CES Hyundai Crossover SUV Concept Cars Future Vehicles Hydrogen Cars fcev

Driving the BMW M3 CS and Alfa Romeo Stelvio, and Toyota reveals a new Camry | Autoblog Podcast #807

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They kick the discussion off by talking about what they've been driving as of late, including a track test of the 2024 BMW M3 CS and then road drives of the Mazda CX-90, Alfa Romeo Stelvio Veloce and BMW 750e xDrive. After wrapping up the drive section, the pair move on to some early reveals that happened at the L.A. Auto Show. The new Toyota Camry, Toyota Crown Signia, Hyundai Santa Fe XRT and Hyundai Ioniq 5 N are all discussed. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #807 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving 2024 BMW M3 CS 2023 Mazda CX-90 w/inline-six 2024 Alfa Romeo Stelvio Veloce 2024 BMW 750e xDrive PHEV News from L.A. Auto Show 2025 Toyota Camry 2025 Toyota Crown Signia 2025 Hyundai Ioniq 5 N 2024 Hyundai Santa Fe XRT Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts LA Auto Show Alfa Romeo BMW Hyundai Mazda Toyota Crossover Hatchback SUV Electric Hybrid Luxury Performance Sedan Podcasts