2022 Kia Telluride Sx on 2040-cars

Auto blog

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.

Kia Sorento Plug-In Hybrid breaks cover, but will U.S. get it?

Kia teased a Sorento PHEV earlier this year when it revealed what powertrains would be available for the redesigned crossover. Today, we have the details on this forthcoming plug-in hybrid variant. The only catch is the lack of U.S. market information. Kia has revealed the Sorento PHEV for Europe, but there’s no word on whether it will come here, too. After seeing the powertrain details, though, we think thereÂ’s a very good chance it could succeed in America. For starters, the plug-in Sorento is powerful. It uses a 1.6-liter turbocharged four-cylinder and a single electric motor for forward motion, resulting in 261 horsepower and 258 pound-feet of torque combined. The 1.6-liter engine takes advantage of HyundaiÂ’s new CVVD technology to boost efficiency and power. And the electric motor is new and improved for this model, benefiting from a new two-stage lamination process to reduce noise and vibration levels. A six-speed automatic transmission handles shifting duties. Kia is packing a 13.8 kWh lithium-ion battery pack underneath. Range estimates are not yet available, but Kia says its “all-electric range will be sufficient to enable drivers to complete most short drives on electric power alone.” WeÂ’re guessing it will be something around 25 miles in EPA testing, assuming we ever see EPA estimated figures. Kia is introducing new battery tech with this model, too. The Sorento Plug-In Hybrid will be the first Kia to use an independent battery pack water-cooling system. Kia says it ensures optimal heat management and efficiency of the battery pack. Luggage capacity is essentially unaffected, losing just 0.14 cubic-foot of space versus the standard Hybrid. Everything remains the same visually except for “eco plug-in” badges and the presence of a charge port. The 12.3-inch digital instrument cluster is reprogrammed to display pertinent information for the new powertrain, and the 10.25-inch touchscreen infotainment system will feature charge port finder functionality. Kia says Sorento Plug-In Hybrid sales will start in early 2021 in select markets. No official U.S. information is available at this time, but weÂ’ve asked Kia to tell us what it can and will update this post when we hear back. Related Video:

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50