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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

2018 Kia Stinger will start at $32,795

The 2018 Stinger proves that Kia can indeed make a credible performance sedan. And now we know exactly how much it will cost to park the rear-wheel-drive hatchback in your garage. The 2018 Kia Stinger starts at $32,795 with its standard 255-horsepower turbocharged four-cylinder engine. Opting for all-wheel drive, which is available across the board, bumps the price up by $2,200. A Stinger with the premium package that brings LED lights, a sunroof, power seats, navigation, and a nice sound system will set you back just under $38,000. If you want a Stinger GT and its 3.3-liter twin-turbo 365-hp V6, expect a sticker of at least $39,895. A fully loaded Stinger GT2 will run $50,395. That sounds pricey, but only if you're basing your buying decision on the badge. We tested this performance-bred Kia on the world's best-known race circuit, the Nurburgring, and came away mightily impressed. The Stinger is aimed at premium brands like Audi, BMW, and Mercedes-Benz, and with that in mind, it's priced appropriately. Only time will tell if the car-buying public at large agrees. We'll find out soon; the Stinger will hit dealerships within the next few weeks. Related Video: Featured Gallery 2018 Kia Stinger View 37 Photos News Source: Kia Auto News Kia Car Buying Hatchback Performance Sedan kia stinger gt kia stinger

Subaru ice driving and Mercedes-AMG G 63 | Autoblog Podcast #571

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder. They kick things off by talking about the cars they've been driving: the 2019 Mercedes-AMG G63 and Autoblog's long-term Kia Stinger. Then they discuss hooning the Subaru BRZ, WRX and WRX STI on ice at the Subaru Winter Experience. Then they talk news, specifically Amazon investing $700 million in EV startup Rivian, and Maserati finally launching the Alfieri. Finally they help spend a listener's money on a new, green car. Autoblog Podcast #571 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 Driving the 2019 Mercedes-AMG G63 Long-term Kia Stinger update Subaru Winter Experience Amazon invests in Rivian Maserati Alfieri on its way Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: