2013 Kia Optima Lx on 2040-cars

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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:

2020 Kia ProCeed is a gorgeous wagon with a spunky turbo engine option

The 2020 Kia ProCeed wagon has finally been unveiled, and it looks pretty much like the concept from the last Frankfurt Motor Show. It has the almost-fastback roofline of the swoopy concept, the wide taillights, and the signature chrome window trim with a dorsal fin highlight at the back. According to Kia, it's also the longest and lowest member of the Ceed compact car family. It's an all-around striking wagon that should stand out in the parking lots of Europe. Still, while it is attractive and distinctive, the ProCeed's design has been a bit compromised in the shift to a production car. The taller body and less dramatic curves detract a bit from the radical roof. The concept also had distinctly rear-drive proportions with the front wheels pushed far forward and plenty of space between them and the base of the windshield. Since the production ProCeed is based on the front-drive Ceed, the long, lean nose is truncated and less elegant. These are nitpicks, though, as the car is far sleeker than the regular Ceed Sportswagon, and we applaud an automaker anytime they come close to delivering on a beautiful concept. The ProCeed is more than just a pretty body, though. Despite being lower and sleeker than the regular Ceed Sportswagon, it only loses about one cubic foot of cargo space. Under the hood, a couple of small-displacement turbo gas engines and a turbo diesel are available, but the really interesting engine is the 1.6-liter turbocharged four-cylinder that's shared with the Veloster Turbo. Just like in the force-fed Veloster, it makes 201 horsepower and 195 pound-feet of torque, and it can be coupled to a 6-speed manual or 7-speed dual-clutch automatic. The engine is only available in the ProCeed GT trim, which Kia notes had its ride and handling tuning overseen by former chief engineer at BMW's M division, Albert Biermann. While the ProCeed GT has unique suspension tuning, all models benefit from fully-independent suspension and sticky Michelin Pilot Sport 4 tires. Pricing hasn't been announced yet for the ProCeed, but it will go on sale early in 2019. Of course, it won't be coming to the U.S., since we don't even have the regular Ceed. Interestingly, it appears it will only be available in Europe, since the press release says it will go "on sale exclusively to European drivers." So even Kia's home market of South Korea may not get the wicked wagon.

Chevy Bolt wins 2017 Green Car of the Year

We knew that a plug-in vehicle was going to win the 2017 Green Car of the Year award this year, given that all five finalists have a way to charge up. And when Ron Cogan, the editor and publisher of Green Car Journal, announced the winner – the 2017 Chevy Bolt EV – he said that the car itself represents one of those times in the auto industry when everything is about to change. Similar to the invention of the starter motor, things are about to get different. For now, though, the fact that the Bolt EV won an award sounds like the same old thing all over again. Just this week, it was named Motor Trends Car of the Year and to the Car And Driver Top 10 list. The other four finalists for Green Car of the Year included the Toyota Prius Prime, the Chrysler Pacifica, the Kia Optima (including hybrid and plug-in hybrid models) and the BMW 330e iPerformance. Last year, the winner was the 2016 Chevy Volt. Did Green Car Journal make the right selection this year? See the award ceremony below.