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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

UPDATE: 2021 Kia K5 name confirmed in fuel economy listing

UPDATE: Additional Kia K5 fuel economy data has been added to the FuelEconomy.gov website. It includes two sets of fuel economy numbers for what seems to be front-wheel-drive trims of the 1.6-liter turbocharged K5. You can find those numbers in the updated text below. The website has also seemingly removed the numbers for the all-wheel-drive version, but those are still present in this article. We've already seen Kia's new midsize family sedan, but details about it are still being fleshed out, including what it will finally be named. Based on a listing at the EPA's FuelEconomy.gov website, it seems the sedan will officially be known as the 2021 Kia K5, dropping the old Optima name. Besides the name, we also get snippets of information about one engine in multiple configurations. The engine in question is a turbocharged 1.6-liter four-cylinder, likely the same engine found in the Hyundai Sonata, which makes 180 horsepower and 195 pound-feet of torque. The Hyundai uses an eight-speed automatic transmission, and the Kia probably will, too. With what is likely the front-drive model, the K5 will get 29 mpg in town, 38 on the highway and 32 combined. There's also a version that gets slightly worse economy at 27 in town, 37 on the highway and 31 in combined driving. It's probably a heavier, more well-equipped trim. Both versions do get better fuel economy than the Sonata with the same engine (27 city / 36 highway / 31 combined). The third set of numbers is for the all-wheel-drive version, which will be unique to the Kia. According to the listing, it returns 26 mpg in the city, 34 on the highway and 29 in combined driving. Though all these numbers are for the 1.6-liter, there is another engine coming, which Kia has also previously said will be another turbocharged engine. It will probably be the 2.5-liter for the Sonata N-Line with 290 horsepower and 310 pound-feet of torque. With the Kia K5's option for all-wheel drive, it will join a growing group of midsize sedans with the drivetrain: the Subaru Legacy, Nissan Altima, Toyota Camry and the soon-to-be-discontinued Ford Fusion. Based on the engine size and output, this Kia K5 will be a direct competitor to the Altima and Camry, as well as the Legacy with the naturally aspirated engine. Depending on trim levels, the K5 ties or beats the Camry, which returns 28 to 29 mpg combined. The Altima returns 29 to 30 mpg combined depending on trim level, and the Legacy hits 30 mpg. Related Video:    

Kia recalling 377k Sorentos that can accidentally shift out of park

Kia has announced that it will recall 377,000 Sorento crossovers built between October 19, 2009 and January 31, 2013, which equates to model years 2011 through 2013. The affected vehicles may suffer failure in the brake-shift interlock mechanism. Put enough force on the lever and the interlock will crack or chip. Once that happens, the Sorento can be shifted out of park without stepping on the brakes. That's bad news for safety, and as the National Highway Traffic Safety Association bulletin notes, it's a violation the Federal Motor Vehicle Safety Standards on theft protection. Naturally, Kia will notify owners of the affected vehicles and ask them to report to dealers for a new brake-shift interlock mechanism. Repairs will be carried out free of charge. The official start date of the recall is November 24. Read on for the official press release from Kia. RECALL Subject : Brake-Shift Interlock Mechanism Can Chip or Crack Report Receipt Date: OCT 06, 2015 NHTSA Campaign Number: 15V626000 Component(s): POWER TRAIN Potential Number of Units Affected: 377,062 Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2011-2013 Kia Sorento vehicles manufactured October 19, 2009, to January 31, 2013. In the affected vehicles, if excessive force is applied to the gear shift lever, the brake-shift interlock mechanism may chip or crack allowing the transmission being able to be shifted out of "Park" without the brakes being depressed. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 114, "Theft Protection." CONSEQUENCE: Without requiring the brake to be pressed, the vehicle may be unintentionally shifted out of Park, allowing it to roll, which may result in a crash. REMEDY: Kia will notify owners, and dealers will replace the brake-shift interlock mechanism, free of charge. The recall is expected to begin November 24, 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC124. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.