2011 Kia Sorento Awd on 2040-cars

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Volkswagen Group, BMW Z4 top Total Value Awards by Strategic Vision

It was just nine months ago that Strategic Vision announced its 2011 Total Value Awards, but you don't have to wait until next year for the 2012 awards. The Volkswagen Group keeps its lead as the number one brand, with seven products taking top category spots: Golf, Jetta Wagon, CC, Eos and Audi A3 Wagon, Q5 and Q7. Strategic Vision says "true innovation" - "rich and impactful, intuitive, motivational, in-depth and is able to trigger description by the user in great specificity" - is the open secret of the brands with the strongest showings. Results are culled from 77,153 owners covering more than 350 new cars bought between September of 2011 and 2012 ranked in the Total Value Index (TVI).
Other notable winners are Hyundai-Kia following VW in the brand category and having the Hyundai Elantra and Kia Sorento among category winners, the BMW Z4 taking the premium roadster category and the highest overall score of any vehicle, the Chevrolet Volt continuing to gather silverware in the Special Category, nabbing the second-highest score of all and representative of "nearly perfect innovation," and Chrysler and Dodge being most improved.
Check out the press release below for your day's dose of jargon and all the winners.

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

Kia boss details 5-year plan to overhaul brand with EVs front and center

Kia's new boss has detailed an aggressive, $25 billion plan to electrify much of its lineup by 2025 and change its brand image. Hosung Song, promoted to President in March, wants to move faster than parent company Hyundai into EVs and PBVs, or purpose-built vehicles, better suited to how he believes cars will be used in the future. In an interview with Automotive News, Song said that Kia's "Plan S" will offer 11 electric-only models by mid-decade, comprising 6.6% of the global EV market share and generating 20% of Kia's own sales. By then, Song believes the total cost of ownership for electric and internal combustion cars will be about the same, as ICEs require more maintenance and fuel costs are projected to rise. Not only that, but by 2026 Song wants Kia to sell half a million battery-electric vehicles, as well as another half-million hybrids, PHEVs and other "green" offerings. By 2027, Kia will have seven models powered exclusively by electrons. Then, by 2029, a full quarter of Kia's sales will be from EVs. As for PBVs, Kia describes them as vehicles specifically designed for ride-hailing services, as autonomous taxis and e-commerce delivery-bots. They will be used primarily in urban centers and feature autonomous tech, as cities around the world change the rules for cars and car ownership. The new plans dovetail with Kia's desire to appeal to a younger customer base. However, Song told AN that he also wants to move the brand upmarket, which may conflict with the utilitarian, robo-taxi image that PBVs will foster. Finally, ushering in this new era will be a revamped Kia logo. According to AN, Kia will dispense with the name-in-an-oval badge that has been in use since 1994. Instead, the new branding will resemble the stylized name, sans oval, found on the Kia Imagine concept revealed at Geneva in 2019. As for the "S" in Plan S, Kia says that it stands for "shift," as in a shift "from a business system focused on internal combustion engine vehicles toward one centered on electric vehicles and customized mobility solutions." Related Video: