2014 Kia Soul + on 2040-cars

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How automakers stand to benefit from Iran

The big global news of late is a deal that sees a number of major powers easing some sanctions on Iran in return for the Middle Eastern nation scaling back its nuclear program. This thawing of relations between Iran and the West could have far-reaching impacts in both the near and long term, particularly on the auto industry.
As Bloomberg points out, foreign manufacturers, especially Kia and Peugeot, stand to win big by this short-term easing of sanctions. But the impact of opening up the Iranian market to larger-scale sales cannot be underestimated - Peugeot, for example, sold 457,900 units to Iran in 2011 as spare parts kits alone. Opening the Iranian market could also have a huge impact on the cost of oil, as the country was one of the largest producers in the OPEC consortium before firmer sanctions took effect in 2012. Still, as David Cohen, US undersecretary for terrorism and financial intelligence said, it's "not open season now for business in Iran."
Bloomberg has an excellent report of all the near-term effects an easing of sanctions has across a number of industries. Hop over and give it a look.

Kia Soul now has more turbo and 201 hp

Back in May, Kia revealed in a new hamster commercial that we would be seeing a turbocharged version of the Soul sometime this winter. After months of waiting, we finally get our first look at the Soul Turbo in the form of the European-market Soul SX. Obviously, the most important part of the newly-boosted Soul lies under the hood. There you will find the familiar turbocharged 1.6-liter four-cylinder from the Veloster Turbo and the Elantra Sport. Unsurprisingly, it makes the same 201 horsepower as its corporate cousins. But that's still a healthy 37-horsepower improvement over the naturally aspirated 2.0-liter. The engine is bolted up to a new 7-speed dual clutch transmission. Kia didn't say anything about a manual option, but we certainly hope they'll offer one. The company claims the Soul SX has a 0-62 mph time of 7.8 seconds and a top speed of 124 mph. Aside from the engine, there are subtle exterior and interior tweaks that distinguish this quicker Soul. The front bumper gets a larger, more aggressive grille, and the side sills are slightly wider. The car also receives exclusive 10-spoke, 18-inch wheels, red accents and Soul badge, and a twin-tip exhaust. Inside, the Soul SX has a black cloth and leather interior featuring orange stitching and the obligatory flat-bottomed steering wheel. Kia also revealed that the Soul SX is now available for ordering. However, this is just the European model. We still have yet to see the final US-spec version, but we'll probably see it very soon. Related Video: Featured Gallery 2017 Kia Soul SX: Paris 2016 View 12 Photos Image Credit: Live photos copyright 2016 Drew Phillips / Autoblog Paris Motor Show Kia Crossover Hatchback Performance 2016 paris motor show kia soul turbo

Hyundai, Kia to temporarily close U.S. plants in path of Irma

SEOUL — South Korea's Hyundai and sister car maker Kia said on Monday they planned to temporarily shut down plants in the United States to avoid potential damage from Hurricane Irma. The shut down comes at a time Hyundai's U.S. sales have fallen more than the market average, and after it recently announced plans to expand its SUV lineup and launch a pickup truck in the market in an attempt to reverse the slide. In a statement, Hyundai Motor said it would suspend operation of its Alabama plant for two days - between Monday and Wednesday — while Kia Motors will stop operation of its Georgia plant for one day - between Monday and Tuesday. The suspension is expected to result in lost production of about 3,000 vehicles for both, the Yonhap news agency earlier said on Monday, citing a Hyundai Motor group spokesman. A Hyundai spokeswoman declined to comment on the number. Hurricane Irma took aim at heavily populated areas of central Florida on Monday as it carved a path of destruction through the state with high winds and storm surges that left millions without power, ripped roofs off homes and flooded city streets. Hyundai's U.S. sales are down nearly 11 percent this year through July 31, worse than the overall 2.9 percent decline in U.S. car and light truck sales. Sales of the Sonata, once a pillar of Hyundai's U.S. franchise, have fallen 30 percent through the first seven months of 2017. In contrast, sales of Hyundai's current SUV lineup are up 11 percent for the first seven months of this year. Reporting by Joyce LeeRelated Video: Plants/Manufacturing Hyundai Kia alabama