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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:

Next-gen Kia Sportage teased in sketches

Kia is providing an early peek at the fourth-gen Sportage ahead of the crossover's debut at the 2015 Frankfurt Motor Show on September 15. The latest design comes from Kia's European design center, which is also located in Frankfurt. While sketches like this can often embellish the details, everything here appears largely in line with previous spy shots. Up front, the latest Sportage wears a low-slung grille with the complicated shape of its brand sibling, but the new swept-back LED headlights along the hood are the major change. At least in these sketches, they give the CUV a very stylish shape. The roof arches back to give a coupe-like silhouette, and glass appears to hide the B-pillar for an airy look. At the rear, LED taillights stretch all the way across the hatch. The automaker promises the "most refined high-quality cabin yet" in the release of these sketches, and it looks like an uncluttered place to be. We look forward to seeing how Kia's designers translate these details from ink to metal in Germany. Related Video: DYNAMIC ENERGY: THE NEXT-GENERATION KIA SPORTAGE Frankfurt unveil of all-new Sportage Dynamic new styling Most refined high-quality cabin yet Kia Motors will reveal its all-new Kia Sportage for the first time globally on 15 September, at the 2015 Frankfurt International Motor Show. Entering its fourth-generation, the all-new Sportage features a bold, progressive design, which exudes power and agility from every angle. The dynamic compact SUV styling creates visual harmony out of the tension between bold, precise feature lines and dramatically-sculptured bodywork. Inside, the all-new Sportage marries simple, modern style with rich material quality for Kia's most refined, highest-quality cabin to date. With the design of the new model led by the brand's European design centre – located in Frankfurt – the all-new Sportage represents the future face of Kia.

Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."