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Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Hyundai recalls 24k Genesis sedans over electrical issue

An electrical problem has prompted Hyundai and the National Highway Traffic Safety Administration to issue a recall for the 2015 Genesis. The problem arises when water leaks into the taillight assembly, which – in a way that would only make sense to an electrician – could cause the incorrect gear to be displayed on the instrument panel or even a delay in switching from Park to Reverse or Drive. Needless to say, if the driver doesn't know into which position the transmission has shifted, that could increase the likelihood of a crash. The issue affects an estimated 24,400 units of the 2015 Genesis in the United States – specifically those manufactured between February 21, 2014, and January 24, 2015. Owners of those vehicles can expect to hear from their local dealer to arrange the installation of additional waterproofing pads to prevent the troublesome moisture from leaking in to the taillights. RECALL Subject : Water may Leak into Rear Combination Lamp Assembly Report Receipt Date: FEB 19, 2015 NHTSA Campaign Number: 15V097000 Component(s): ELECTRICAL SYSTEM , EXTERIOR LIGHTING , POWER TRAIN Potential Number of Units Affected: 24,400 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2015 Genesis vehicles manufactured February 21, 2014, to January 24, 2015. Water may leak into the rear combination lamp assemblies and cause an incorrect gear display on the instrument panel or a delay in the engagement of the selected gear when the vehicle is shifted from Park to Reverse or Drive. CONSEQUENCE: If the incorrect gear is being displayed, the vehicle may move in an unintended direction, increasing the risk of a crash. REMEDY: Hyundai will notify owners, and dealers will apply pads to prevent water intrusion into the combination lamp housing, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Hyundai customer service at 1-855-671-3059. Hyundai's number for this recall is 128. 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.

2019 Hyundai Ioniq gets new safety, infotainment tech

The Hyundai Ioniq lineup of electrified vehicles is being updated for 2019 with new safety technologies, more voice-recognition features and standard remote charge management for electric and plug-in hybrid models. Models equipped with navigation capabilities will get an enhanced, natural-language, server-based voice-recognition with a new point-of-interest search database that can suss out locations of charging stations. Driver attention alert and high-beam assist are new available features, along with automatic emergency braking with pedestrian detection, which is standard for the SEL trim along with lane-keep assist and adaptive cruise control. Hyundai says it's working with ChargePoint, which operates more than 32,000 electric-vehicle charging stations, to provide Ioniq owners with access cards and the ability to locate charging stations through the MyHyundai/Blue Link mobile app. Ioniq Electric and PHEV models come with Blue Link-, Google- or Alexa-enabled capability to manage and monitor charging schedules remotely to help take advantage of lower electricity prices during off-peak hours. Hyundai sells the Ioniq in Hybrid, Electric and Plug-In Hybrid variants. The Hybrid boasts an estimated 58 mpg rating from its 1.6-liter direct-injected engine, 32-kilowatt electric motor and 1.56 kWh lithium-ion polymer battery. The Electric boasts a 136 MPGe rating and 124-mile driving range from its 28.0 kWh lithium-ion polymer battery, while the Plug-In Hybrid uses a 1.6-liter direct-injected Atkinson-cycle four-cylinder mated to a six-speed dual-clutch transmission, a 44.5 kW electric motor and 8.9 kWh battery to offer 29 miles in electric-only driving range. Hyundai sold 11,197 Ioniq models in 2017, though it didn't start selling the sedans until late in the first quarter. The 2019 models arrive in dealerships this summer, though pricing hasn't yet been announced. Related Video: Featured Gallery 2019 Hyundai Ioniq Image Credit: Hyundai Green Hyundai Infotainment Hatchback Electric Hybrid PHEV safety features hyundai ioniq hyundai ioniq electric hyundai ioniq plug-in