1.6l 1.6 L Liter Inline 4 Cylinder Dohc Engine With Var 110 Hp Horsepower on 2040-cars

Auto blog

Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Center for Auto Safety wants Hyundai and Kia to recall 2.9M vehicles

DETROIT — A nonprofit auto safety group is demanding that Hyundai and Kia recall 2.9 million cars and SUVs in the U.S. due to consumer complaints that they can catch fire. The Center For Auto Safety said Friday that there have been more than 220 complaints to the U.S. government since 2010 about fires and another 200 complaints about melted wires as well as smoke and burning odors. The complaints involve the 2011 through 2014 Kia Sorento and Optima and the Hyundai Sonata and Santa Fe. Also included is the 2010 through 2015 Kia Soul. The fires are being investigated by the National Highway Traffic Safety Administration as part of a 2017 probe into Hyundai and Kia engine failures. "The volume of fires here make it appear that Hyundai and Kia are content to sit back and allow consumers and insurers to bear the brunt of poorly designed, manufactured and repaired vehicles," Jason Levine, the center's executive director, said. The fire reports have come in from across the country, including a death in Ohio in April 2017, he said. Hyundai says it monitors safety concerns and acts quickly to recall defective vehicles. "We have a robust system in place for monitoring and investigating reported vehicle fires that includes investigation and reporting to NHTSA as required. Vehicle fires can result from a variety of reasons," the company statement said. Kia said it is using company and third-party fire investigators to determine what caused the fires so it can address them. "A vehicle fire may be the result of any number of complex factors, such as a manufacturing issue, inadequate maintenance, the installation of aftermarket parts, an improper repair, arson, or some other non-vehicle source, and must be carefully evaluated by a qualified and trained investigator or technician," the company said in a statement. The Center for Auto Safety filed a petition asking NHTSA to investigate the fires in June. The agency said Friday that it is still evaluating the petition and it has sent information requests to Hyundai, Kia and other automakers about the issue. Levine says the center does not know what's causing the fires. In May 2017 the government began investigating whether the automakers moved quickly enough to recall over 1.6 million vehicles because of engines stalling. NHTSA is looking into three recalls by the related Korean brands, and it's also investigating whether the automakers followed safety reporting requirements.

2018 Kia Rio First Drive | Keep compact and carry on

When Kia announced that it would bring the fourth-generation Rio to the United States, we were rather surprised. The subcompact segment in which it competes isn't exactly hot here, and small cars have tight profit margins. It makes more sense to concentrate on tiny crossovers that are more popular and can sell for more cash. Ford seems to be taking this tack with the impending introduction of the EcoSport, and the delayed introduction of the new Fiesta in America. Even Kia itself has experienced success with sub-compact crossovers with the Soul. Kia seems determined to stick with the segment, though. A Kia representative told us that, even though the U.S. subcompact market may not be booming, it still accounts for about 500,000 cars a year. Plus, if any manufacturers leave the segment, that's an opportunity to pick up some conquest sales. He also said that regardless of the size of the market, Kia still sees a portion of the car-buying public that will always want a budget subcompact, and that it can be a good introduction to the brand. So with that in mind, is the Kia Rio a good introduction to the Korean car company? In general, yes, and we were introduced to it in and around Baltimore, Md., where we were able to try out a top-level Kia Rio EX on everything from cobblestone streets to winding country lanes. And at first glance, the Rio is a handsome little machine. While the previous generation was round and bubbly, the new model looks more aggressive, and has a shape more akin to larger vehicles. Thank the longer, more horizontal grille, slender, swept-back headlights, lower belt line, large lower grille and jutting lip. The hatchback is the more attractive version of the car, but the sedan is far from ugly, which is no small feat for a subcompact. Compared with the European version of the Rio, and even the previous-generation model, though, there are visual differences that reveal the fourth-generation U.S.-spec Rio has succumbed to cost-cutting measures. The first tipoff is the wheels. The alloys on the Rio EX, the only model with alloy wheels, are a minuscule 15 inches. Though admittedly adorable, and probably a boon to ride quality, they do look disappointing when compared to the available 17-inch units on the European model, or even those on the old Rio. The headlights and taillights are plain and simple, too. The headlights are reflector halogen lamps, and the taillights and turn signals use incandescent bulbs.