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Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.

Kia America shuffles executives

Kia announced a sudden and massive shuffle of its most senior executives in North America, including the resignation of its CEO and new roles for some of his top lieutenants. The biggest change is the departure of Byung Mo Ahn, who had until now served as both CEO of Kia Motors America and head of the company's manufacturing operations in Georgia, as well as a group vice chairman. Ahn is stepping down from all three positions with immediate effect, but will stay on in an advisory capacity. In his place, Jang Won Sohn moves from his previous post as a senior vice president at the home office to take over Kia Motors America. The task of running Kia Motors Manufacturing Georgia will fall to Hyun Jong Shin, currently the plant's executive vice president and chief operating officer. Along with those replacements, Kia promoted Michael Sprague (pictured) to the newly created position of COO and executive vice president for Kia Motors America – a step up from his current title as EVP of sales and marketing. He reports directly to Sohn and takes over responsibility for product planning as well as sales, marketing and service. KIA MOTORS AMERICA STATEMENT REGARDING ORGANIZATIONAL CHANGES Effective immediately, the Group Vice Chairman and CEO of Kia Motors America (KMA) and Kia Motors Manufacturing Georgia (KMMG), Byung Mo Ahn, has left these positions and will become a company advisor. Jang Won Sohn, formerly a Senior Vice President at KMC, assumes the position of President and CEO of KMA, and Hyun Jong Shin, formerly KMMG's Executive Vice President and Chief Operating Officer, assumes the position of President and CEO of KMMG. Michael Sprague, formerly KMA's Executive Vice President of Sales and Marketing, has been appointed to the newly created position of Chief Operating Officer and EVP of KMA, reporting directly to Mr. Sohn, and will serve as the central point of contact for all sales, marketing, service and product planning functions.

2019 Kia Niro EV boasts 280-mile range

Kia first hinted at an upcoming fully electric Niro compact crossover with a concept at CES, and just a few months later, it's showing the production model. Unsurprisingly, it looks pretty much exactly like the normal hybrid models on sale now, eschewing some of the show car bits such as the grille with a message screen. It does have differences, though, such as the blocked-off, body color grille, which also houses the charging ports. It also has extra faux grilles on each end of the front bumper that have LED fog lights. They're mirrored by additional faux grilles on the rear bumper. Another difference from the show model is the estimated range. Using the WLTP estimate, Kia says the Niro EV with the 64 kWh battery will go about 280 miles on a charge. The concept shown at CES with the same size battery was estimated to have a range of 238 miles. We suspect that the latter number may be closer to the range on the U.S. test cycle. This is because the Hyundai Kona Electric with the 64 kWh battery the U.S. will get was rated for 292 miles on WLTP, but only 250 on the U.S. cycle. Also like the Kona Electric, the Niro EV will be offered with two battery choices. In addition to the aforementioned 64 kWh battery, a 39.2 kWh battery will be available providing about 236 miles of range on the WLTP cycle. If the Niro EV follows in the footsteps of its Hyundai cousin, we predict the U.S. will only get the model with the higher-capacity battery. There are still some details that have yet to be revealed, such as power, torque, and what the interior looks like. It will probably make the same 201 horsepower as the CES show car, and we wouldn't be surprised if it's the same electric motor as in the Kona Electric, since the power is the same and the battery size is the same. As such, it will probably produce 291 pound-feet of torque. Also, considering how much the exterior looks like the standard Niro, the interior will likely look basically identical, but perhaps different colors and perhaps a few extra premium features, again, a la Kona Electric. We should have all the details at the car's official debut in Paris. Related Video: