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Hyundai, Kia warn of $2.9B earnings hit over engine issues

SEOUL — Hyundai Motor and affiliate Kia Motors warned of another $2.9 billion of provisions related to engine issues, bringing their total hit from the years-long quality problem that has tarnished their credibility to nearly $5 billion. Hyundai Motor Group said on Monday their third-quarter earnings would reflect quality-related costs of a combined 3.36 trillion won ($2.94 billion), of which Hyundai accounted for 2.1 trillion won and Kia for 1.26 trillion. Hyundai and Kia, together the worldÂ’s No.5 automaker, recalled nearly 1.7 million vehicles in 2015 and 2017 in one of their biggest recalls in the United States, citing an engine failure that raises the risk of crashes. In 2017, U.S. safety regulators began to investigate if the recalls had covered enough vehicles and were done in a timely fashion. That followed concerns reported by a South Korean whistleblower, a former quality official at Hyundai, to the U.S. National Highway Traffic Safety Administration (NHTSA). Hyundai was being investigated by U.S. prosecutors over whether vehicle recalls were conducted properly, Reuters reported in 2018. From 2017 to 2019, the two firms have earmarked a series of provisions mostly to address engine-related issues, which amounted to about 2.04 trillion won, according to Reuters' calculation. The latest provisions reflect higher-than-expected replacement rates for Theta II GDi engines of old vehicles subject to recalls, as well as growing consumer complaints over the same engine and other engines not subject to recalls, Hyundai said. The engine is in a wide variety of vehicles. "Hyundai has repeatedly said it does not see any more costs related to the Theta II engine issues, and the latest recall would deal a fatal blow to Hyundai's credibility," Sean Kim, an analyst at Dongbu Securities said. "I am worried." He expected Hyundai and Kia to swing to losses for the quarter from July to September, hit by the provisions. Hyundai Motor closed down 2.3% and Kia Motors ended down 1%. ($1=1,141.42 won)   Earnings/Financials Recalls Hyundai Kia

Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

2021 Kia Sportage Review | Sporty-ish value

The 2021 Kia Sportage picks up right where last year's mid-cycle refresh left off, with some modest improvements to design and technological updates that make driving easier and safer. An often overlooked vehicle in the increasingly crowded compact crossover segment, the Sportage provides comfort and value on a budget, but doesn’t quite match the style, fuel economy or cargo space of its competitors, many of which have been recently revamped as all-new models. Still, with the features available for the price, itÂ’s worth a test drive if youÂ’re looking at vehicles like the Honda CR-V, Ford Escape or Toyota RAV4. You just might find the Sportage to be the right fit for you and your budget, and with its roomy backseat — at the expense of cargo volume — it might be the right fit, literally, for you and your passengers. Finally, if you like the packaging of the Sportage, but are looking to save some money up front, as well as at the pump, it might be worth taking a look at the similarly sized Kia Seltos. YouÂ’d be giving up some power and nicer interior materials, but would be getting a more efficient and arguably more stylish Kia for about $2,000 less. What's new for 2021? The 2021 Kia Sportage builds upon the previous model yearÂ’s mid-cycle refresh with an update to S trim level offerings. The new Nightfall Edition and Nightfall Edition Premium appearance packages replace the S Sunroof and Premium Package, respectively. Nightfall gets unique 18-inch wheels with blacked-out center caps, and adds piano black trim on the front bumper, side sills, front and rear skid plates, and fog lights. It also gets unique Sportage badging on the liftgate. The LX, EX and SX Turbo trims remain unchanged. What's the Sportage interior and in-car technology like? The Sportage's interior styling is straightforward and functional. ThereÂ’s not much to visually break up the square footage of plastic, but the materials donÂ’t scream “cheap.” In fact, its superior materials quality to the Seltos is one area that justifies the Sportage's higher price. The leather seating in the SX Turbo trim looks and feels quite nice, especially when you consider those front seats are heated and, optionally, ventilated. The seating position is upright for a good view of the road, and the center stack tilts slightly toward the left to give a sense of ergonomic care to the driver.

2021 Kia K5 Review | New look, new name, still a value leader

The 2021 Kia K5 replaces the long-running Kia Optima as the brand’s midsize family sedan, and it brings with it bold, aggressive exterior styling and a seriously comfortable driving experience. Not only that, itÂ’s a good value compared to the competition. And while it does sacrifice some sportiness for its comfort, Kia will introduce a high-performance GT model by the end of the year that should rectify the lack of driving excitement. There are some sedans on the market with a slightly better blend of sportiness and comfort, such as one of our favorites, the Honda Accord, as well as the gracefully aging Mazda6, but the KiaÂ’s strong points are enough to make it a must-see for midsize car shoppers. What's new for 2020? The Kia K5 is a new model introduced this year, but it could certainly be considered the next-generation Optima with a name change. 2021 Kia K5 GT-Line View 17 Photos What's the K5's interior and in-car technology like? While the K5's exterior is bold and aggressive, the interior is less in-your-face. ThatÂ’s not to say it isnÂ’t still stylish, though. The dashboard has a unique design with separate levels that gives it some visual interest. On most models, you get aluminum-look trim on the dash and doors, but the EX features fairly convincing matte-finish faux wood trim. The plastics are all high-quality with a welcome number of soft touch surfaces and interesting, attractive patterns. The instruments and infotainment screen occupy a large monolith in front of the driver and the center of the dash. The gauges are analog with a display nestled between them. The standard infotainment touchscreen is an 8-inch unit (in the photos above) flanked by physical shortcut buttons and knobs. It's the same system that Kia has used for several years, which is easy to use but a bit dated in appearance. Available as an option on the GT-Line and EX is a 10.25-inch screen (pictured below). ItÂ’s larger and features updated graphics that are nicer to look at, but it functions similarly. ThatÂ’s not a bad thing. Instead of normal shortcut buttons, this system also picks up touch-sensitive shortcut controls rather than physical buttons. Quite simply, they don't function as well and we're glad the climate control sticks with traditional buttons and knobs regardless of infotainment system. Also worth noting is that seating accommodations are quite comfortable. The front seats in particular are thickly cushioned with gentle bolstering.

2021 Kia K5 Review | New look, new name, still a value leader

The 2021 Kia K5 replaces the long-running Kia Optima as the brand’s midsize family sedan, and it brings with it bold, aggressive exterior styling and a seriously comfortable driving experience. Not only that, itÂ’s a good value compared to the competition. And while it does sacrifice some sportiness for its comfort, Kia will introduce a high-performance GT model by the end of the year that should rectify the lack of driving excitement. There are some sedans on the market with a slightly better blend of sportiness and comfort, such as one of our favorites, the Honda Accord, as well as the gracefully aging Mazda6, but the KiaÂ’s strong points are enough to make it a must-see for midsize car shoppers. What's new for 2020? The Kia K5 is a new model introduced this year, but it could certainly be considered the next-generation Optima with a name change. 2021 Kia K5 GT-Line View 17 Photos What's the K5's interior and in-car technology like? While the K5's exterior is bold and aggressive, the interior is less in-your-face. ThatÂ’s not to say it isnÂ’t still stylish, though. The dashboard has a unique design with separate levels that gives it some visual interest. On most models, you get aluminum-look trim on the dash and doors, but the EX features fairly convincing matte-finish faux wood trim. The plastics are all high-quality with a welcome number of soft touch surfaces and interesting, attractive patterns. The instruments and infotainment screen occupy a large monolith in front of the driver and the center of the dash. The gauges are analog with a display nestled between them. The standard infotainment touchscreen is an 8-inch unit (in the photos above) flanked by physical shortcut buttons and knobs. It's the same system that Kia has used for several years, which is easy to use but a bit dated in appearance. Available as an option on the GT-Line and EX is a 10.25-inch screen (pictured below). ItÂ’s larger and features updated graphics that are nicer to look at, but it functions similarly. ThatÂ’s not a bad thing. Instead of normal shortcut buttons, this system also picks up touch-sensitive shortcut controls rather than physical buttons. Quite simply, they don't function as well and we're glad the climate control sticks with traditional buttons and knobs regardless of infotainment system. Also worth noting is that seating accommodations are quite comfortable. The front seats in particular are thickly cushioned with gentle bolstering.

Hyundai Kona EV recalled in Korea after suspected battery flaw causes fires

SEOUL — Hyundai will voluntarily recall Kona full-electric vehicles because a possible short circuit due to faulty manufacturing of its high-voltage battery cells could pose a fire risk. The recall involves 25,564 Kona EVs built between September 2017 and March 2020, South Korea's transport ministry said on Thursday. It starts on Oct. 16 and  includes software updates and battery replacements after inspections. In total, 13 incidents of fire involving the Kona EV, including one each in Canada and Austria, were documented so far, according to a statement by ruling party lawmaker Jang Kyung-tae's office on Thursday. The safety recall "is a proactive response to a suspected defective production of high-voltage batteries used in the vehicles, which may have contributed to the reported fires," Hyundai said. The automaker said it will deploy all necessary measures to identify the cause of the fires and address customers' needs. Kona EVs use batteries made by LG Chem. LG Chem said the exact cause of the fire had not been determined and a reenactment experiment conducted jointly with Hyundai had not led to a fire, so the fires could not be attributed to faulty battery cells. LG Chem added that it will participate in a future investigation with Hyundai to find the cause. In July, Hyundai Motor leader Euisun Chung said Hyundai and sister company Kia aim to sell 1 million full-electric vehicles in 2025, targeting more than 10 percent of the global market share for such vehicles. The Kona is Hyundai brand's best-selling model in Europe. Kona sales in the region rose 1.9 percent to 70,380 in the first eight months, including combustion engine versions, according to JATO Dynamics market researchers.  

2021 Kia Sorento Review | What's new, price, hybrid fuel economy, pictures

The Kia Sorento has always gone its own way. We'll spare you a history lesson, but in short, Kia's midsize crossover has never fit neatly into a same-sized competitive set. That continues for the all-new, fourth-generation 2021 Kia Sorento. It's still a midsize crossover, it still has three rows of seats, but it's still not as big as other three-row family crossovers, including Kia's own Telluride. Not everyone needs that much space. At the same time, though, perhaps you might need more than the Honda CR-Vs and Toyota RAV4s of the world provide — plus a few extra seats. For many, the Sorento should make a lot of sense. The biggest change for 2021, then, is the amount of variety the Sorento now offers. The new X-Line trim model is basically Kia's answer to the Subaru Outback or perhaps a Toyota RAV4 Adventure. It gets an extra inch of ground clearance for a lofty 8.3 inches total, standard all-wheel drive with a locking center differential, more functional roof racks and different styling. It's no rock crawler, but for weekend adventures, it should do the job nicely. All other trims get revised styling as well, with the SX in particular slathered in glossy black trim and wheels. It's the interior that sees the bigger visual overhaul, plus an injection of the latest technology, plus a slight improvement to the Sorento's already above-average interior quality. There are huge changes under the hood. The base four-cylinder is bigger and a bit more powerful, while the old V6 engine upgrade gives way to a 2.5-liter turbo inline-four good for 281 horsepower and a robust 311 pound-feet of torque that smokes all those bigger three-row crossovers — including the Telluride. From there, things get green. The Sorento joins the Toyota Highlander and Ford Explorer as the only three-row hybrids, and betters them both with an estimated 37 miles per gallon combined. Then there's the new Sorento Plug-In Hybrid, which is the only three-row plug-in hybrid SUV from a non-luxury brand. It can go an estimated 32 miles on a charge, which should be more than enough to run the dayÂ’s chores without the turbocharged gas engine firing up. All of this makes for a compelling, diverse lineup. Whether you're considering one of the larger compact SUVs, a two-row midsize SUV or a bigger three-row family crossover, the new Sorento is a smart alternative to consider and one of our top recommended midsize SUVs.  What's new for 2021? The Sorento is all-new for 2021.

2021 Kia Sorento unveiled with new look, more tech, and two hybrid options

We've seen the all-new, fourth-generation 2021 Kia Sorento before, as Kia unveiled it online earlier in 2020, but this is our first glimpse at the American-spec model and with that glimpse comes a full set of details. Included is a longer list of technology features, more all-terrain capability, and an available plug-in hybrid powertrain. While the American market version looks a lot like the variant that will be sold in global markets, the range will include an outdoorsy equipment package named X-Line, offered as the AWD version of SX Prestige model, which adds an inch of ground clearance, specific 20-inch alloy wheels, a bridge-type roof rack, and a handful of rugged-looking exterior accents. It also brings a center locking differential and electronic hill descent control. While it won't be giving a Jeep Grand Cherokee fits, it sounds like it will be more capable over rough terrain than your average family crossover. Besides the X-Line's extra ground clearance (a decent 8.3 inches), every 2021 Sorento gains 1.4 inches of wheelbase. Total length remains the same, though, and third-row legroom has actually gone down by 2 inches. As such, the Sorento maintains its unusual in-betweener position: it's bigger and has more seats than a Honda CR-V or Toyota RAV4, but it isn't as spacious or cumbersome as bigger three-row crossovers. This positioning makes even more sense now that Kia sells the Telluride. The 2021 Sorento comes standard with an 8-inch touchscreen and six USB charging ports. Buyers willing and able to move up the trim hierarchy and tick a few boxes on the list of options unlock a 12.3-inch digital instrument cluster, a 360-degree camera, eight USB ports, a 10.25-inch touchscreen for the infotainment system, cloud-based navigation, plus multi-connection Bluetooth technology that lets the passengers simultaneously connect two phones. Owners can also use an Amazon Alexa- or Google Assistant-enabled smart speaker to remotely start the engine, among other functions.  The 2021 Sorento range will ultimately include four powertrains. Entry-level models come with a 2.5-liter four-cylinder engine that develops 191 horsepower and 182 pound-feet of torque. The upgrade engine option is now a turbocharged version of the 2.5-liter making 281 horsepower and a stout 311 pound-feet of torque. The old Sorento's V6 is no more. Front-wheel drive and an eight-speed automatic transmission come standard on both, and all-wheel drive is offered at an extra cost.

2021 Kia Telluride Review | What's new, prices, safety and pictures

It's a rare thing when a three-row family conveyance can be deemed cool, but we're pretty sure the 2021 Kia Telluride manages to pull it off. Credit almost entirely goes to its refined, tastefully adorned and classically proportioned styling. There's a little Volvo here and a little Range Rover there, but those are certainly good muses to have. The aesthetic appeal carries inside as well. However, there's more than just good looks here. The Telluride also manages to check off nearly every functional box as well. It's one of the most spacious three-row crossovers, has plenty of family-friendly storage solutions, boasts user-friendly technology and comes standard with an abundance of well-executed safety features (plus its upgrade blind-spot warning system was named Autoblog's Tech of the Year). The driving experience is admittedly a bit forgettable, but it's also free from bad habits. In short, no other three-row family crossover does a better job of both fashion and function. It's a must drive. What's new for 2021? The Telluride gains a new Nightfall Edition following an industry trend of special trim levels or packages slathered in blacked-out body trim. Unlike many of those other examples, however, the Telluride Nightfall Edition (pictured here) is available in eight colors, including its exclusive new-for-2021 Wolf Gray. Other updates include the addition of standard remote ignition, an upgraded trailer harness and LED headlamps added to the EX Premium package. Prices increase between $400 and $850 depending on trim level, including the destination charge that also goes up a bit for 2021 to $1,170. Apparently, it costs a little more to ship the thing from Georgia this year. What are the Telluride interior and in-car technology like? Admittedly, we've only had contact with the ritziest, range-topping Telluride SX model that boasts soft, interestingly stitched leather, convincing faux wood trim, and a generally luxurious ambience that trumps nearly everything else in the segment (it's a coin flip between it and the mechanically related Hyundai Palisade). It also costs less than range-topping rivals that actually have less equipment. Now, will an LX and EX be as swank? No, but the general quality of plastics, switchgear and other materials should still be above average. Every Telluride is also extremely well equipped.

Kia previews the seven electric cars it plans to launch by 2027

Kia released a dark design sketch to shine a sliver of light on the seven electric cars it plans to launch by 2027. It hopes that battery-powered models will represent at least 25% of its global sales by 2029. Long on vision but short on details, the image shows the vague outline of seven vehicles that will join the South Korean company's range in the coming years. Company CEO Ho-Sung Song noted the models will be positioned in a variety of market segments, and the image depicts several different silhouettes. The cars on the left look like SUVs and crossovers, while the ones on the right seem to ride a bit lower; there may even be a sports car in the mix. All are linked by a crease-free design, though keep in mind they're still under development. Kia is not a newcomer to the electric car segment. It released its first series-produced EV, an electric version of the Ray sold in global markets, in 2011, and its current range includes battery-powered variants of the Soul and the Niro. The aforementioned septet represents the next step in its offensive. Its members will be standalone EVs, meaning they will not be based on gasoline-powered cars, and they'll all be part of the same family. In a way, Kia is following the same path as Volkswagen, which chose to group its future EVs under the ID umbrella. We'll get our first taste of Kia's new range of electric models when the firm releases a car code-named CV in 2021. It was designed for "many regions globally," though whether that includes the United States is up in the air, and it will usher in the design language that will characterize the line-up. Unofficially, we hear it will arrive as a sedan-SUV cross that will draw inspiration from the Imagine concept introduced at the 2019 edition of the Geneva auto show. Croatia-based Rimac (which Kia has invested in) will play a role in the development process. At the other end of the spectrum, Kia is working on a rugged, body-on-frame pickup that's about as big as the Ford Ranger. It could spawn a large SUV positioned above the Telluride as an alternative to the Chevrolet Tahoe.