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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

2021 Kia Optima getting two turbo engines, all-wheel drive option

Even before we've had a chance to drive it, the 2021 Kia Optima is proving to be an interesting sedan. For one thing, it might not even be called Optima anymore, with a switch to the Korean-market K5 name rumored. The styling is thoroughly aggressive, too. As for the latest Optima news, it's getting a pair of turbo engines for the United States, and two more drive wheels as an option. Unsurprisingly, the Optima will be available with a turbocharged 1.6-liter inline-four, just like many versions of its cousin, the Hyundai Sonata. It makes 178 horsepower and 195 pound-feet of torque. There's also mention of a naturally aspirated 2.5-liter inline-four with the same 191 horsepower and 181 pound-feet of torque as the Sonata's base engine. Kia doesn't specifically say it will be offered in America, but its presence in the Sonata means it will probably be available. If those engines aren't powerful enough, the Optima will be available with a turbocharged 2.5-liter engine making 286 horsepower and 311 pound-feet of torque. Presumably, this is the same engine that will be in the Sonata N-Line and future Genesis G70. Kia says this engine is good for a 0-62 mph run of 6.6 seconds. The other big news about the Optima, besides the engines, is that it will available with all-wheel drive as an option. The Sonata does not offer it, making it a unique selling point for the Kia. It will join a growing number of sedans with available all-wheel drive including the Toyota Camry, Nissan Altima, and of course the Subaru Legacy. The Ford Fusion is also among this group, but will soon be discontinued. In addition to all-wheel drive, Kia said Optimas will be available with either six- or eight-speed automatic transmissions, though it didn't specify to which engines they would be paired. The same goes for the eight-speed dual-clutch automatic announced, but seeing as the Sonata only has that on the N-Line, it's probably exclusive to the turbo 2.5-liter engine. Pricing isn't available yet for the new Optima. But Kia did say it will go on sale in the first half of 2020. Related Video:    

Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."