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Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

Kia compact crossover caught completely uncovered, and it's called Seltos

Kia has been teasing a new, global small crossover with some sketches the past couple of weeks. Now we get to see the actual crossover — called the Kia Seltos — completely unveiled well before the actual reveal. It seems to be sized between the Kia Soul and the Kia Sportage. The photos also show that the drawings Kia released were clearly of the production car. Everything looks nearly identical. It also leans on many current design trends such as a black or contrasting-color roof separated by metallic trim, faux metallic skid plates on the bumpers, and a rising window line at the back. The car has more lines and creases than most of Kia's relatively organic designs of late. The headlights and taillights do have lots of nice detailing, though this is probably a high-level model, and those details may be lost on lower trims. We don't get a look at the interior, but if it's as faithful to the teaser images as the exterior, it should look fairly typical for a Kia. It will have a fairly low, horizontal dash with a large screen protruding from the middle. It looks as though a newer widescreen will be available, which we've seen in the Kia Telluride and K900. Considering the size of the Seltos, it would seem plausible for it to share the naturally aspirated 2.0-liter and turbocharged 1.6-liter engines from the Kia Soul and Forte. The naturally aspirated engine makes 147 horsepower and 132 pound-feet of torque, and the turbo engine makes 201 horsepower and 195 pound-feet of torque. As in those other Kias, the 2.0-liter engine would probably get a CVT while the 1.6-liter engine would likely get a dual-clutch transmission. All-wheel drive is also probably on the table, though we'll have to wait to see if it's offered on every trim and powertrain combination. Kia said the reveal will be this summer, so we may be waiting a couple more months for all those details.

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50