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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

5 Hyundai and Kia models have higher-than-average fire insurance claim rates

DETROIT — Owners of five Hyundai and Kia cars and SUVs file fire insurance claims at a rate far higher than the average for comparable vehicles, according to an insurance industry study. The Highway Loss Data Institute, which analyzes data from insurers representing about 85 percent of the U.S. industry, found that some Hyundai and Kia vehicles equipped with four-cylinder engines have double the noncrash fire claim rates than the average of comparable vehicles. Last week the South Korean brands announced they would recall about 168,000 vehicles to fix a fuel pipe problem that can cause fires. The problem stems from improper repairs during previous recalls for engine failures. They also announced additional sensor software for another 3.7 million vehicles. Hyundai and Kia started recalling 1.7 million vehicles in 2015 — about 618,000 of which are Kias — because manufacturing debris can restrict oil flow to connecting rod bearings. That can cause bearings in 2-liter and 2.4-liter four-cylinder engines to wear and fail. The problem can also cause fires. The repair in many cases is an expensive engine block replacement. Results of the Arlington, Virginia-based institute's study have been turned over the U.S. National Highway Traffic Safety Administration, which is investigating engine failures and fires in Hyundai and Kia vehicles. The agency is mostly closed this week due to the partial government shutdown. Hyundai said Tuesday that the majority of its models in the study are already being recalled or are part of additional actions to keep customers safe. "Hyundai actively monitors and evaluates potential safety concerns, including non-collision fires, with all of its vehicles and acts swiftly to recall any vehicles with safety-related defects," spokesman Michael Stewart said. Kia spokesman James Bell said the company is cooperating with NHTSA "and will take any necessary corrective action in a timely manner." Many of the fires involve vehicles included the engine failure recall and could have been prevented if owners had the recall repairs done, he wrote. The institute began studying fire claims after the Center for Auto Safety petitioned NHTSA last year seeking a wider recall of Hyundai and Kia vehicles. The center had found a higher-than-normal number of consumer complaints about Hyundai and Kia fires in the agency's database. NHTSA has used Highway Loss Data Institute studies in the past to help make recall decisions.

New sketches show Kia small SUV interior

Little more than a week after releasing sketches of the exterior, Kia presents sketches of the interior of its first-ever small global SUV. Sticking to the message of enticements for younger buyers, we're told this will be a "bold design statement" that is "trimmed in high-quality materials throughout" with the aim of creating a "modern ambiance to appeal to young-at-heart, tech-savvy buyers." The renderings appear a good start to supporting those arguments. The centerpiece is a 10.25-inch infotainment screen stood atop the instrument panel. A menu button on the top left, a row of navigation buttons along the bottom edge, and two rows of navigation icons on the screen should keep everything an occupant could want no more than a couple of touches away. Beneath the screen come some chunky air vents, beneath those, an HVAC screen supported by an HVAC knob and controls. Notice how the IP design slides from the control surface into a passenger grab handle anchored on the center tunnel. To the left, a steering wheel loosely modeled on the one from the Sportage, ahead of an instrument binnacle that's a quartet analogue gauges bracketing a digital display. The images show two different interior grades; for instance, one HVAC knob is printed with the word "Auto," while the other isn't, and the steering wheels in the two images are slightly different. The differences are more pronounced around the shifter — which might, in fact, represent two kinds of shifters. AutoPortal reports there'll be an automatic transmission as well as a seven-speed dual clutch gearbox. One gear lever is flanked by seven buttons, three of them for the heated steering and ventilated seats. Another button turns off the park assistance feature. Then there's what looks like a hill descent control button, one for some sort of all-wheel drive feature like a locking rear differential, and a final button to turn off the Stop/Start system. The other image looks like the more luxurious trim, even though it's the one without the "Auto" HVAC knob. This gear lever is flanked by eight buttons, most too small to make out, but it's clear that the AWD button is missing, and the ventilated seat icon is now a heated seat icon. There's an electric parking brake switch next to the driver's seat, two cupholders, and the forward surface of the lower cubby holds a 12V outlet and an AUX input. We'll find out what the real thing looks like soon.