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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:

Kia calls in 87k Fortes over fan fire issue

An electrical issue on the 2014 Forte has prompted Kia and the National Highway Traffic Safety Administration to issue a recall for 86,880 vehicles across America. The problem stems from the resistor for the cooling fan that the Korean automaker has found could overheat and melt, which would increase the risk of a fire. And fires in an automobile, needless to say, are not a good thing – unless they're occurring inside a combustion chamber. The issue affects units manufactured between December 5, 2012, and April 17, 2014. Owners of said Fortes can expect to hear from Kia to arrange to bring their vehicles in to their local dealer to have the multi-fuse unit replaced – and, for those manufactured between December 5, 2012, and January 27, 2014, the cooling fan as well. Vehicles equipped with the 1.8-liter engine will also have their ECUs reflashed while they're at it. RECALL Subject : Cooling Fan Resistor May Melt Report Receipt Date: JAN 16, 2015 NHTSA Campaign Number: 15V015000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 86,880 Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2014 Kia Forte vehicles manufactured December 5, 2012, to April 17, 2014. In the affected vehicles, the cooling fan resistor may overheat and melt. CONSEQUENCE: If the cooling fan resistor overheats and melts, there is an increased risk of a vehicle fire. REMEDY: Kia will notify owners, and for vehicles produced from December 5, 2012 to January 27, 2014, dealers will replace the cooling fan resistor and multi-fuse unit. For vehicles produced from January 28, 2014 to April 17, 2014, dealers will replace the multi-fuse unit only. Owners of vehicles with a 1.8L engine will also have the engine control unit software updated. The recall is expected to begin February 24, 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC113. 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.

Kia Niro Concept is the miniature Soul of the future

The Kia Niro Concept has officially made its Frankfurt Motor Show debut, and aside from the product specialist who would not get out of our photographer's way, this was our first in-person look at the Niro Concept, which first broke cover near the end of last month. The compact, rough-and-tumble crossover would slot in below the Soul were it to enter production, with Kia calling it a B-segment competitor.
The Niro sports neon accents, although both the trim and the actual color of the car itself are far lighter than they appeared in the original press photography. The cabin, meanwhile, looks like it was completely crafted from a single piece of rubber. We suppose that'd make it easy to clean out, sort of like a Jeep Wrangler.
Kia claims the Niro was designed "in Europe with European tastes" in mind, and that its production options will be based on the response of the general public. Take a look above for a full gallery of live photos, and then down below for the press release and images from Kia.