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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:

Fast Porsches and gold BMWs | Autoblog Podcast #548

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts and Contributing Editor James Riswick. The trio discuss driving the BMW X2, the Porsche 911 GT3, the Volkswagen GTI and Autoblog's new long-term Kia Stinger GT as well as a new engine for the Ford F-150. They also reflect on FCA and Ferrari head Sergio Marchionne and what his passing means for the future of those two companies. Autoblog Podcast #548 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we've been driving: 2018 Porsche 911 GT3, Volkswagen GTI, BMW X2 and Kia Stinger GT Sergio Marchionne Ford F-150 Mercedes-Benz A-Class Feedback Email – Podcast@Autoblog.com Review the show on iTunes Earnings/Financials Podcasts BMW Ferrari Fiat Kia Porsche Volkswagen Coupe Crossover Luxury Performance porsche 911 gt3 bmw x2

Predictable is good | 2017 Kia Sorento Quick Spin

It's been a while since we've tested the latest Kia Sorento, and we've never reviewed the V6 model. That's a shame. It's comfortable, drives well, and offers a lot of features. It's one of Kia's best-sellers, though sales have slipped as competitors roll out fresher models. Still, with consumers flocking to crossovers, the Sorento remains a critical vehicle for Kia. We spent a couple of days running around metro Detroit in the top trim SXL V6 model, which starts at $46,595. With optional Snow White Pearl paint ($395) our tester comes in at $46,990. It's loaded, with the 3.3-liter V6, all-wheel drive, 19-inch chrome alloy wheels, HID headlights, and LED fog and taillights. The interior has heated and vented seats, a heated leather steering wheel, Kia's UVO infotainment, satellite radio, and Infinity surround sound audio. Safety features include an auto emergency braking system, lane departure warning, surround view monitor, and rear traffic alert. Put simply, it's a really nice crossover. Here's our impressions. We were immediately impressed with the V6, which pumps out 290 horsepower and 252 pound-feet of torque. It offers strong, even acceleration. We took off from a stoplight, revved to 6,000 rpm, and shot past a line of traffic cued up to the left. The Sorento feels a little bit like a sleeper. It's strong on the expressway. We had no trouble merging or maneuvering through plodding traffic. Reaching cruising speeds of 75 or 80 miles per hour isn't a chore. We occasionally floored it to stretch things out and weren't disappointed. Response is very acceptable for this segment. We noticed the sound of the V6 is basic, and not sporty. Just six cylinders doing their thing. Teamed with a six-speed automatic transmission, the V6 was refreshing. So many crossovers come with turbo and/or naturally-aspirated four-cylinders (the Sorento offers both). But a competent engine moving us forward in a linear fashion is kind of nice. Traditional even. Yes, the industry is moving toward downsized displacement, and that's a smart tactic. But a turbocharged engine — they all have some degree of lag — is a strange dynamic for some consumers. Add in a dual-clutch or an eight- or nine-speed gearbox, and everyday vehicles can start to feel weird. Accelerate quickly in a turbo crossover with a non-enthusiast and they're not going to like it. The point: the traditional powertrain in the Sorento delivers. Once we're cruising, we noticed a little bit of road and wind noise.