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Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Alfa Romeo 33 Stradale revealed, Dodge Challenger Black Ghost driven | Autoblog Podcast #796

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor John Beltz Snyder. John has been driving the 2024 Jeep Wrangler Rubicon 392, while Greg has been making noise in another last call from Dodge, the 2023 Challenger Black Ghost. John, along with Associate Editor Byron Hurd, recently tested the 2023 Honda CR-V and Kia Sportage hybrids for an upcoming comparison review. In the news, Felipe Massa seeks to overturn the 2008 F1 Championship in his favor through legal means; Ford might return to the street-performance truck scene with the F-150 Lobo; Volkswagen has been hinting at something interesting at the Munich show by tweeting a mysterious video of a rabbit (the animal); and while the podcast recording was underway, Alfa Romeo unveiled its beautiful 33 Stradale supercar. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #796 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2024 Jeep Wrangler Rubicon 392 2023 Dodge Challenger Black Ghost Additional reading: 1970 Dodge Challenger Black Ghost hammers for $975,000 at Mecum Spring Classic 2023 Honda CR-V Sport Touring Hybrid vs. 2023 Kia Sportage Hybrid SX Prestige Massa vows to fight for Hamilton's 2008 Formula 1 title Ford F-150 Lobo reportedly coming as street-oriented performance truck Volkswagen teases Rabbit in mysterious video Alfa Romeo 33 Stradale supercar revealed with gas and EV versions, gorgeous either way Additional reading: Alfa Romeo 33 Stradale is a fast Alfa, developed fast Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Dodge Ford Honda Jeep Kia Volkswagen Truck Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Supercars

2016 Kia Cee'd GT Line brings new 1.0-liter engine to Geneva

The Kia Sportspace Concept might exhibit the future of the Korean brand's styling, but the Cee'd GT Line at the Geneva Motor Show is the first glimpse at two of the company's powertrain innovations – at least for the European market. The GT Line is meant as a compromise between the sporty Cee'd GT and the regular model. By taking this path, buyers get slightly angrier styling on the outside but more efficient engines under the hood. Offered in the three-door, five-door and wagon bodies, these models get LED running lights up front, lower side sills, an updated rear bumper, a revised exhaust design and 17-inch wheels. However, what really makes the GT Line something special is this is the first opportunity for European buyers to get Kia's new 1.0-liter turbocharged three-cylinder engine and separately its seven-speed dual-clutch transmission. The tiny mill with stop/start makes 118 horsepower and 127 pound-feet of torque in the Cee'd and is only available with a six-speed manual. Conversely, customers that want the new gearbox need to order the upgraded 1.6-liter diesel four-cylinder with 131 horsepower and 210 pound-feet of torque. All versions of this slightly warmer hatch go on sale in the fourth quarter across the pond. SPORTY KIA CEE'D GT LINE LAUNCHED WITH NEW ENGINE AND DUAL-CLUTCH TRANSMISSION GT Line model blends the looks of sporty cee'd GT and versatility of the conventional cee'd , inside and out Debut for Kia's all-new three-cylinder 1.0-litre T-GDi engine More power and torque and fewer emissions form new seven-speed DCT Kia cee'd GT Line available across Europe in Q4 2015 Kia Motors Europe will unveil a new Kia cee'd 'GT Line' specification at the 85th Salon International de l'Automobile in Geneva on 3 March 2015. In addition to a range of visual upgrades, the new cee'd GT Line signifies the arrival of Kia's all-new downsized 1.0-litre T-GDi (turbo gasoline direct injection) engine and new seven-speed dual-clutch transmission in Europe. The look of the GT, the versatility of a conventional cee'd The new GT Line offers buyers the sporty looks of the high performance Kia cee'd GT and pro_cee'd GT and the versatility of the conventional cee'd model family. The GT Line specification is available on all three cee'd body types – five-door cee'd, three-door pro_cee'd and cee'd Sportswagon.