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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

Did Lexus make a BMW? Or did BMW make a Lexus? This and other 2017 surprises

It's that time of year again. The calendar is about to reach its end, Star Trek Cats 2018 is about to take its place, and I'm reflecting about all the cars that graced my driveway this year or summoned me to exotic places. You know, like Stuttgart or Phoenix. In 2017, I drove at least 57, and as I perused the list of them, I started to notice a common refrain: "This car surprised me." Most were pleasant surprises, but there were a few head scratchers and facepalms for good measure. In both cases, it was generally the result of car companies seemingly trying to break out of an existing mold. Nowhere was that more apparent than the pair of Lexuses slathered in Infrared paint: The LS 500 that left me this week and the LC 500 that was my favorite car of 2017. Though Lexus has been trying to shake its crusty, gold-packaged reputation for some time now, its efforts always seemed like an old man choosing Hollister to redo his wardrobe after realizing it hasn't been updated since 1987. I fell in love with the LC, genuinely floored by its near-perfect take on the GT. It's characterful in sound, appearance and tactility. It was at home in the city, in the mountain and on the open road. It was both comfortable and thrilling, and after driving the mechanically related LS 500, I can report that the LC's talents aren't an outlier. The LS 500's turbo V6 may make different noises than the LC's naturally aspirated V8, but it nevertheless invigorates the cabin when the car is placed in Sport+ mode. The steering is truly communicative, body motions are kept in miraculous check, and I absolutely forgot I was in an enormous luxury limo ... and a Lexus one at that. It was everything that the BMW 530e was not. I drove that on the exact same roads and was utterly bored the entire time. Generally doughy, lifeless steering, more distant than Planet 9. And no, the plug-in hybrid powertrain had nothing to do with that. At least it shouldn't. The Porsche Panamera S e-Hybrid I also drove this year proves that, as do the Hyundai Ioniqs, which are surprisingly adept and fun little cars regardless of what powers their wheels (Hyundai + hybrid = fun really blew me away). I would drive that Lexus LS F Sport over the BMW 5 Series any day of the week, which seems like a shocking thing to say in relation to either car. While Lexus is seemingly breaking out of its old crusty mold, BMW seems to be climbing into one.

2018 Kia Stinger GT Long-Term Update | It's a hatch!

Our long-term 2018 Kia Stinger GT is a lovely sedan. We've talked a bit about what it's like to live with day-to-day and just how well the GT badge fits on a car like this. It's racked up more than 10,000 miles in the few months it's been in our fleet. I'm personally hoping we can crest 20,000 miles before its year with us is up. The sleek design (both inside and out), sharp handling and peppy 3.3-liter twin-turbo V6 might get all the attention, but people tend to forget it's practical, too. Just look at that cargo area! I sometimes forget that most people don't spend all day and night thinking about cars, poring over photos and spec sheets like we do. When I posted a photo on Twitter last month, one commenter seemed quite surprised to realize that the Stinger had a hatch rather than a trunk. It's one of my favorite things about this car, but it seems it's not common knowledge. If we can't get a true wagon, hatches like the Stinger, the Porsche Panamera and Audi A5/S5/RS5 Sportback are great alternatives. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Stinger has 23.3 cubic feet of space with the seats up, though Kia doesn't list the area with the seats down. For reference, the Kia Optima has 15.9 cubic-feet in its trunk. Winter in Detroit sucks, and the Stinger GT's standard Michelin Pilot Sport 4S summer tires aren't ideal for sub-freezing temperatures. Nokian Tyres was kind enough to donate a set of Hakkapeliitta studless winter tires for the Stinger (more on those in another post soon). When the tires arrived, I put the seats down and threw all four in the back of the car and took it to the tire shop. I had to remove the sun shade, but that was the only real fitment issue. About a week later, just before Christmas, Amazon dropped the price on a 55-inch TV I've had my eye on for months. I placed my order and had it shipped to our office lest package thieves steal it from my porch. I wasn't sure it would fit in the Stinger, but it was just about perfect. Another half inch and I would have needed our long-term Honda Ridgeline. Related Video: