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Hyundai Motor's two R&D vice chairmen reportedly resigning

SEOUL — Hyundai Motor Group's two vice chairmen in charge of research and development have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of the sources added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since Hyundai promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group. The group has appointed new product strategy, design chiefs and replaced senior executives at its overseas operations, including China and the United States. The latest shake-up at the group, which includes Hyundai Motor and its affiliate Kia Motors, could be announced on Wednesday, one of the sources said. It is "part of a generational change Chung is pushing for," another person said. A Hyundai Motor spokesman declined to comment. The group's vice chairmen, Yang Woong-chul and Kwon Moon-sik, both aged 64, told senior officials on Tuesday that they would leave the company, the sources said, declining to say why they had offered to resign. Biermann, a former BMW performance vehicle development official, adds to a flurry of foreign executives that Chung, 48, has brought in to the company typically dominated by Koreans. In October, Thomas Schemera, also a former BMW executive, was appointed to lead product planning for autonomous cars, connected and electrified vehicles, while Luc Donckerwolke, a former Bentley design chief, was appointed to oversee design at Hyundai and Kia. Hyundai Motor's third-quarter net profit plunged by two-thirds, hit by U.S. recall costs that added to its problems. The automaker was already suffering with weak sales in its key U.S. and Chinese markets. Hyundai's share price is down more than 10 percent this quarter, despite a recent rebound driven by a share buyback plan announced on Nov. 30. Reporting by Hyunjoo JinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2014 Kia Cadenza

Kia's Second Effort At Luxury Finds More Love Than The Amanti
The same recent global economic crises that have led luxury automakers to invade the small car market are also somewhat responsible for the influx of near-luxury sedans from mainstream automakers. As the likes of Mercedes-Benz and Audi are reaching down for new customers, automakers like Hyundai, Chevrolet and Toyota are reaching up to bridge the gap and fill in the white space between the industry's typical high-volume large sedans and established luxury sedans. Joining this emerging market, the 2014 Kia Cadenza is the latest sedan to blur the line between value and luxury. One of Kia's core focuses has been offering value to customers, and even with a starting price of $35,100, the Cadenza still represents plenty of that kind of thinking.
Despite what might first come to mind, the Cadenza is not named after a piece of furniture. Instead, Kia notes the name for its new front-wheel-drive flagship comes from the Italian musical term that translates as 'cadence'. The name thus fits in nicely with the brand's other musically inspired model name, Forte. Much like the Hyundai Genesis, the Cadenza will serve as a test of sorts to see how much customers are willing to pay for a Kia, and despite recent reports indicating that Kia has confirmed the Quoris for next year, the reality is that the availability of the bigger rear-wheel-drive flagship will be determined in part by how well the Cadenza strikes a chord with buyers.

2021 Kia K5 is a Stinger-inspired midsize sedan

Love the idea of the rear-wheel-drive Kia Stinger but just can't swing the price tag? The 2021 Kia K5 promises to be the next-best thing, while also delivering the practicality and comfort expected of a modern midsize sedan.  "K5" has been the name of the Korean-market Optima since its major redesign in 2010, and with the 2021 model, that name is coming to America. With this re-branding comes a major overhaul to Kia's four-door family car, including available all-wheel drive and a new performance GT model that will likely be met with approval by fans of the Stinger sport sedan.  On the outside, the K5 looks like, well, an Optima. Kia seems content with its current "tiger face" design. The new K5 design has obvious influences from the Stinger, but that car's design wasn't really all that much of a departure from the previous-generation Optima's, so the family resemblance remains strong. As with any major redesign, there's plenty more action underneath the K5's sheet metal. The new sedan will be offered with two turbocharged engines and, for the first time in a front-wheel-drive Kia sedan, an all-wheel-drive option will be offered for those who want a little more all-weather functionality.  The base engine will be a 1.6-liter four-cylinder producing 180 horsepower and 195 pound-feet of torque. On the base-model LX, it will be paired exclusively with an eight-speed automatic transmission (no CVT here, at least not yet) and front-wheel drive. On the LXS and GT Line, all-wheel drive will be available.  For those who want performance, the GT model is your ticket. Powered by the company's new 2.5-liter turbo-4, the GT will boast 290 hp and a class-leading 311 lb-ft of torque paired with an eight-speed dual-clutch automatic transmission. Kia says this combo will be good for a 0-60 time of 5.8 seconds.  Inside, the K5 gets numerous upgrades over the outgoing Optima. Shown here in GT-Line and GT guise, the interior will be available with perforated leather seating options with contrast stitching for a little added pizzazz. The flat-bottom steering wheel pictured is also exclusive to the GT-Line and GT trims. Other available features include wireless device charging, heated and ventilated front seats, and a heated steering wheel. The base infotainment system will be an 8-inch touchscreen unit with a 10.25-inch upgrade available; both will be powered by the latest revision of Kia's excellent UVO software suite.