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Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

Kia putting GT Concept into production, roadster concept due in Detroit

If you were enamored of the GT concept that Kia unveiled at the Frankfurt Motor Show two years ago, we've got good news for you. According to the latest reports, Kia is planning on putting it into production.
The big question at this point is how closely the production model will shadow the four-door coupe concept. The svelte shape will undoubtedly have to make some concessions toward roadworthiness and production feasibility, but just what platform Kia will use to underpin it remains unknown. It could base it off the large, rear-drive K9 or borrow the platform from sister-company Hyundai's Genesis Coupe. Either of those options would enable the production Kia GT to keep the concept's rear-drive orientation, but other routes would make it either front-drive or potentially all-wheel drive.
Word has it also that Kia is planning to reveal a small roadster concept in the mold of the Mazda MX-5 at the upcoming Detroit Auto Show in January. If public feedback is positive enough, that could see production before the end of next year as well.

Kia may produce all-electric version of the Niro crossover

Kia is considering producing an all-electric version of the Niro, the crossover vehicle that was the first from the South Korean company to be designed as a dedicated hybrid vehicle. Kia Motors operating chief Tae-Hyun Oh told the UK's Car Dealer magazine that the Niro's size, utility, and hybrid pedigree, along with stricter worldwide emissions mandates, may push the automaker to make a Niro EV. Kia, whose sister company Hyundai sells the hydrogen fuel-cell Tucson crossover in limited numbers, is also considering making a fuel-cell car in order to boost its green-vehicle pedigree further. Kia has sold more than 1,000 Niro hybrid vehicles since that model debuted in August. An all-electric Niro would be based on the same platform as the Kia Ioniq. That model has hybrid, plug-in hybrid, and battery-electric variants, reflecting what Kia said earlier this year was a three-pronged attack to broaden the Ioniq's exposure. The all-electric version of the Ioniq, which debuted in South Korea earlier this year and is slated to start sales in the US by the end of 2016, has a 28-kilowatt-hour battery pack that provides a single-charge range of about 110 miles. Currently, Kia sells an all-electric version of the Soul crossover. That model can go 93 miles on a full charge, though reports surfaced in September that the Kia Soul will get a refresh in 2018 that will boost its single-charge range in order to better compete with longer-range models such as the Chevrolet Bolt and Tesla Model 3. The Niro was first shown off as a concept model at the 2013 Frankfurt Motor Show, while a production version was unveiled at the Chicago Auto Show this February. Related Video: Featured Gallery 2017 Kia Niro View 18 Photos News Source: Car Dealer via Hybrid Cars Green Kia Crossover Electric kia niro