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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:

Kia Seltos crossover: Aimed at millennials, named from mythology

In news that touches on proper placement of carts and horses, Kia announced that its new global compact crossover will be called the Seltos. This should surprise no one, since we posted a batch of "spy" shots last week of a naked Seltos that was decorated with Seltos badges and placards. What might surprise is the inspiration for the name: Greek mythology. Kia says we have the legend of "'Celtos,' the son of Hercules" to thank for the moniker. In case you ever need to take a test on this, you should know that Heracles was the Greek god. Hercules was the later Roman version, and the Romans focused more on Hercules' early, dismal relationships. Herc, as the story goes, got tricked by a princess named Celtine during a stint herding cattle, when he stopped by her father's place. The episode resulted in a boy named Celtus (or Celtos), one of his multitudinous brood, and that boy became the mythological father of the Celts. The Seltos crossover has a job almost as challenging as fathering a nation, that of being a lure to millennials the world over. Kia's tried to give the little people hauler a head start on the job by changing the first letter of Celtos' name to "S," said to imply speed and sportiness. Conveniently, that also fits into the carmaker's crossover and minivan naming scheme that already includes Soul, Sportage, Sorento and Sedona. Without details on available engines, we can't tell how much speed or sportiness there will be, but the design looks sophisticated enough. Designers have managed to put plenty of muscle and flourish into a small space without making a mess. With the exterior matching the sketches faithfully, we expect the same handsome results inside, led by the 10.25-inch infotainment touchscreen. Kia says it will reveal the Seltos later this month. Sales will begin in South Korea in the latter half of the year, with other markets to follow.

2020 Kia Telluride makes surprise debut at New York Fashion Week

About two and a half years after the concept's debut in Detroit, the (mostly) production 2020 Kia Telluride has been revealed in New York for Fashion Week. The odd location for the reveal has to do with a partnership with fashion designer Brandon Maxwell who got Kia to donate to his childhood school district in Marfa, Texas, as part of the deal to display the SUV at the show. It has also been customized to fit Maxwell's Texas-themed line of fashion for spring and summer of 2019. Although the production SUV is partly obscured by custom features such as the off-road bumpers, skid plates, auxiliary lights, ladder and spare tire, this is still our best look yet at the SUV. There's clearly a lot of influence from the old concept, but there's also been quite a bit of compromise for production. It's a clean design that's still pretty squared off. The headlight and grille design borrow heavily from the concept, and the taillights are pulled right from it. It's much taller now and more rounded. The rear hatch isn't upright and vertical anymore, the front fascia has been given an arc that softens it, and the proportions between the headlights and grille seem like they may still be in flux. Kia is still keeping many of the technical details under wraps. The company says that the Telluride will have seating for up to 8 passengers, and that it's a few inches longer and wider than the current largest crossover in its line, the 7-passenger Sorento. It will also have a V6 under the hood. Availability and pricing still have yet to be announced, but we expect it to go on sale early next year. The crossover will be assembled at Kia's factory in Georgia. Related Video: