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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 to build test facility at N"urburgring

It looks as if Hyundai is set to build a test facility at the famous Nürburgring. Carscoop reports the Korean automaker has commenced construction on a 10,000-square-foot test center with access to the lengthy German track. Hyundai says the $7.3 million facility will help the company focus on improving the ride and handling of its vehicles through extensive research and development.
Sounds like a plan to us. While we've seen Hyundai vehicles improve on many fronts over the past few years, the company continues to struggle with suspension refinement compared to its Japanese, German and domestic rivals.
Automakers routinely flock to the Nürburgring for testing and development thanks to the track's unusual attributes. With a variety of surfaces, banking, turns, elevation and even weather, the circuit offers engineers the ability to put a vehicle through its paces in a wider range of conditions than most facilities.

Hyundai's next fuel cell SUVs have a reported range of 348 miles

Hyundai's next line of fuel cell SUVs will have a range of 348 miles, besting the current Hyundai Tucson by 30 percent, according to Nikkei. Hyundai reportedly plans to roll out its second generation of fuel cell SUVs in January 2018. A 348-mile range would put Hyundai ahead of the Toyota Mirai, which travels 312 miles per fill-up, but behind Honda's new Clarity Fuel Cell, which travels 366 miles, as MotorTrend points out. Hyundai is apparently looking to price the 2018 fuel cell SUVs at about $50,000 a pop. Additionally, Hyundai is set to debut its fuel cell-powered commercial bus in 2017, putting it in direct competition with Toyota, which has plans to do the same, Nikkei says.Hyundai is also preparing to release its first all-electric vehicle, the Ioniq, in the United States next year. That model comes in fully electric, plug-in and gasoline-hybrid versions. Take a look at it in photos or, if you're in Los Angeles, take a free two-hour spin in a branded Ioniq via the WaiveCar ridesharing app. This article by Jessica Conditt originally ran on Engadget , the definitive guide to this connected life. Related Video: News Source: NikkeiImage Credit: Jae C. Hong / AP Green Hyundai Crossover Hydrogen Cars hyundai tucson tucson