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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

2021 Kia Seltos First Drive | The Soul-ful CUV

To understand the 2021 Kia Seltos, you first have to consider its soul, the Kia Soul. Between the fun-and-funky styling and the compact, practical body style with tons of cargo room, the car that has defied traditional segment labels for a decade (and won an Autoblog comparison test) is a great all-around daily driver for folks who don’t want something that's obviously a crossover. ThereÂ’s just one problem: A lot of people really, really want crossovers. With this in mind, Kia decided to see if the Soul could be made more like one of them. Now, the simplest way to do that could've just been to introduce an all-wheel-drive Soul derivative, but somewhere along the line, the Korean automakerÂ’s product planners decided that would've been a half measure. They considered the fast-growing small crossover segment too hyper-competitive to simply trot out some half-assed Soul "Cross Country" model. Well, besides the X-Line. Instead, the 2021 Kia Seltos was born, a completely different vehicle in its own right, yet one that wears its soul on its sleeve by packing subtle hints to that trademark styling and some of its interior options. If offering all-wheel drive as standard helps cement its identity as a crossover, then the fact its all-wheel drive system comes with a locking center coupling truly seals the deal. In fact, despite our best efforts, we could find only one glaring omission in its CUV bona fides — towing capability. It has none. Sure, Kia offers a “Lifestyle Hitch” accessory for the Seltos, but that's only good for plugging in something like a hitch-mounted bike rack. Those with jet skis, you're out of luck. Trying to further pigeonhole the Seltos quickly becomes difficult, as the baby crossover space is so crowded with new entries in search of a niche that itÂ’s almost impossible to strictly define how it is segmented. You could easily count 20 vehicles of varying size and capability as competitors for the Seltos, from the front-wheel-drive-only Nissan Kicks and Toyota C-HR to the off-road-ready Jeep Renegade. Sister company HyundaiÂ’s Kona and smaller Venue could be considered, too, and then there's the Soul for those who don't need all-wheel drive and obvious crossover image.   Among them all, Seltos falls on the larger end of this evolving spectrum of subcompact “utility” vehicles.

2018 Kia Stinger GT Long-Term Review | We stuff a four-piece set of luggage in the hatch

A few months back, I wrote about the hatch in our long-term 2018 Kia Stinger GT. The sizable cargo area is one of our favorite things about the sportback. It's big enough to fit a full set of wheels and tires or the 55-inch TV I bought around Christmas. While those may showcase the car's hatch with the seats down, we wanted to see what would fit in the 23.3 cubic-foot cargo area with the seats up. To test things, we purchased a four-piece set of luggage on Amazon. The set consisted of three expandable rollers and a smaller tote, generally enough for four people on a weekend road trip or ride to the airport. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Editor-in-Chief Greg Migliore joined me outside our office to see how it all fit in. Check out the video above to see how easy it was to get it all in there. It also gives you a good indication of how big the cargo area actually is. We've got the luggage, so check out the site for more of these tests coming soon.