2016 Kia Soul Redline Special Edition on 2040-cars

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Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.

Kia reveals facelifted 2017 Cadenza

Kia has revealed a facelifted version of its Cadenza sedan. Little in the way of technical details were released to accompany these two images of the model known in its home market as the K7. However the updated model "maintains the progressive, contemporary image of the current model" with "sharper, more defined lines and wider, lower stance" compared to the existing version. Previewed in a trio of teaser renderings just weeks ago, the new Cadenza adopts a more sharply-creased appearance. Kia says that the "long [hood], gently rising shoulder line and swept-back roofline give the car a sleek, elongated silhouette." Those lines are complemented by a a window line that rises towards the rear into a sharp kick upwards in the C-pillar, with the brand's signature tiger-nose grille flanked by wraparound LED headlamps, more muscular fenders, squared-off bumpers, wide LED taillamps, and dual exhaust tips. The new Kia Cadenza is set to reach showrooms around the world in the new year ahead. The current model shares its underpinnings with the Hyundai Azera, and was introduced in Korea in 2010 before arriving in North America in 2013. The version we currently get in the United States is powered by a 3.3-liter V6 producing 293 horsepower and 225 pound-feet of torque, mated to a six-speed automatic transmission. Purposeful design for all-new Kia Cadenza - Sharper, more defined styling for Kia's full-size sedan - Distinctive, European-inspired looks with a sleek, elongated silhouette - Bold new model maintains the progressive image of existing Cadenza, promising greater refinement and luxury - On sale in overseas markets in 2016 (SEOUL) November 24, 2015 – Kia Motors has today revealed the updated exterior styling of the Korean domestic market all-new Kia Cadenza (known as 'K7' in Korea) in the first official photos of the new model. The all-new Cadenza boasts a purposeful new design and will feature high levels of interior quality and contemporary luxury when it goes on sale in overseas markets in 2016. The next-generation Cadenza maintains the progressive, contemporary image of the current model, and the sharper, more defined lines and wider, lower stance give the new model a modern and thoroughly distinctive new look – with key design elements ensuring the new Cadenza remains recognizable as a Kia.

Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.