2003 Kia Sorento, No Reserve on 2040-cars

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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:

Genesis' decision to build the Electrified GV70 in America is a sign of things to come

As Steely Dan famously sang, they call Alabama the Crimson Tide. Here in Montgomery, we’re knee-deep in a Green Tide thatÂ’s transforming the business of building and selling cars. The high-style Genesis Electrified GV70 emerging from Hyundai Motor Manufacturing Alabama (HMMA) is the first Genesis built outside South Korea. ItÂ’s only the second made-in-America EV from a foreign-based automaker, after the Volkswagen ID.4 whose Tennessee production kicked off in July.  Get ready for many more. Spurred by the Inflation Reduction Act — whose final interpretations and outcomes remain in Washingtonian flux — automakers foreign and domestic are scrambling to onshore EV-and-battery production to boost American jobs and security, as a condition to securing lucrative tax incentives for manufacturers and consumers. Beginning in 2024, qualifying for EV credits may even require sourcing a hefty percentage of minerals and other battery materials from America or approved trade partners, a list that conspicuously does not include China or Russia. As things stand, that sticking point could make a vast number of 2024 EVs ineligible for purchase credits; though leasing a vehicle may still earn dealers a $7,500 commercial credit that they could pass along to consumers, as most currently do for EV lessees.  The electric version of GenesisÂ’ most-popular SUV is the avatar of Hyundai MotorÂ’s $10 billion American EV investment, which is expected to foster up to 8,000 good-paying jobs. Even thatÂ’s a fraction of what Atlas Public Policy estimates to be $128 billion in industry-wide investment in AmericaÂ’s EV, battery and recycling capacity through 2030 alone. HyundaiÂ’s planned onshore footprint includes a new battery factory northwest of Atlanta, and a $5.5 billion EV factory near Savannah that aims to produce Hyundai, Kia and Genesis EVs beginning in 2025. Beginning that year, Genesis says every new model introduced will be an EV, with no fossil-fuel option. And Genesis plans to phase out gasoline-powered models entirely by 2030, a similar timeline to luxury brands including Volvo and Cadillac. In Alabama, where Hyundai also builds the Elantra, Sonata, Santa Fe and Santa Cruz, an Electrified GV70 is hoisted onto a lift for the final stop on its 16-hour assembly journey.

2019 Kia K900 flagship sedan debuts: Reserved luxury reimagined

After those teasers and brochure shots, the 2019 Kia K900 flagship sedan is here in the metal, presented at the New York Auto Show. Kia reminds us that the only thing carried over from the old car is the name, but the car's design is still reserved rather than ostentatious. The information withheld in Kia's K900 news to date was the available powertrain, but it's now announced to have the same 3.3-liter twin turbo V6 as the Stinger. It produces 365 horsepower and 376 pound-feet of torque, and it's paired to an eight-speed, homegrown automatic transmission like in the Stinger. The V6 is the sole engine choice, and likewise the K900 has torque-vectoring all-wheel-drive as standard. The previous generation car was rear-drive, and the Stinger has rear-drive variants, but for the new K900 it's AWD all the way. The system can distribute up to 50 percent of power to the front and as much as 80 percent to the rear. Kia performance chief Albert Biermann says the new K900 is 33 percent stiffer than the outgoing car, for improved ride and handling. In its home market, the K900 will reportedly be available with a five-liter V8, but that's not part of the U.S. portfolio. Inside, the K900's cocoon-like leather and wood interior ambience can be enhanced with its Pantone-assisted mood lighting system. There are seven color settings, which are meant to convey the feel of oceans, forests, skies — and presets can even imitate the aurora borealis. Another feature of the interior lighting is that proximity sensors can brighten the dashboard controls by 20 percent when the driver reaches for the switches. The 12.3-inch HMI touchscreen supports Apple CarPlay and Android Auto, and the car's settings can be toggled using a bespoke UVO telematics system. Four cameras provide the driver with a stitched-together 360-degree view of the car's surroundings, and HUD is an option. Driver assists include smart cruise control with lane functions and a driver fatigue monitoring system. In addition to the K900, Kia is also introducing the refreshed-for-2019 Optima and Sedona. The facelifted Optima now comes with optional two-tone sport leather seats, and it shares some of the K900's driver assist systems as standard: collision avoidance and warning, lane keeping assist and driver fatigue monitoring.