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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 bringing new Picanto city car to Geneva

The Kia Rio may be one of the smallest cars available in the United States, but over in Europe, the Korean automaker offers something even smaller. It's called the Picanto, and Kia is set to reveal an updated version at the Geneva Motor Show next month. Measuring just over 140 inches long and weighing less than 2,000 pounds, the Picanto shares its underpinnings with the equally tiny Hyundai i10, with power coming from an upgraded 1.0-liter inline-three with multi-point fuel injection. The new model also benefits from redesigned bumpers front and rear, new 14-inch (that's right, 14-inch!) alloys, larger brakes and a revised interior with a new center stack, chrome accents and cloth upholstery. Buyers will also be able to choose between three- and five-door body-styles and new color packs to make it stand out from other city cars in the urban landscape, along with a new seven-inch display for the infotainment system and cruise control. Kia to reveal new Picanto at 2015 Geneva Show - Updated exterior and interior design with new customisation options - New premium features include cruise control and touchscreen infotainment - Updates to 1.0-litre gasoline engine and reduced stopping distance - On sale across Europe by the end of Q1 2015 Frankfurt, 2 February 2015 – Kia Motors Europe will unveil the enhanced Kia Picanto at the 85th Salon International de l'Automobile in Geneva on 3 March 2015. Kia's stylish A-segment city hatchback features a range of dynamic and visual improvements to maintain its competitiveness. The enhanced Kia Picanto boasts redesigned front and rear bumpers to enhance the car's bold looks, as well as updates to Kia's hallmark 'tiger-nose' grille. Buyers can now choose a new 14-inch alloy wheel design, and the inclusion of an optional sport pack makes the upgraded car stand out as one of the best-looking vehicles in the A-segment, in both three- and five-door variants. Inside, the Picanto is now fitted with new chrome accents surrounding the driver's instrument binnacle and dashboard air vents, and a new cloth upholstery pattern boosts the car's youthful appeal. At the centre of the dashboard, a more modern fascia now surrounds the Picanto's audio system. Premium features and greater customisation A range of optional premium features are being introduced to the Kia Picanto for the first time, including the latest generation of Kia's AVN (audio-video navigation) system with a large 7.0-inch display screen (available from Q3).

2017 Kia Niro hybrid's $23,786 price undercuts the Toyota Prius

We're close to the commercial launch of Kia's hybrid crossover, the pointless-record-breaking but decidedly "solid" Niro. The ad campaign has begun with Melissa McCarthy voicing the TV spots, and with the Super Bowl tease already in full swing, curious customers are going to want to know what they'll have to shell out for the fuel-sipping family car. Kia has announced that the Niro will start at a base MSRP of $23,785. The 50 mpg (combined) Niro FE's sub-$24k price includes 16-inch wheels, keyless entry, a seven-inch touchscreen display with rearview camera, and Apple CarPlay and Android Auto. The $24,095 LX adds push-button start, roof rails, and LED rear lighting. The LX also offers the $1,450 Advanced Technology Package, adding forward collision and lane departure warnings, and autonomous emergency braking. At $26,595, the EX provides heated seats, a leather-wrapped steering wheel, LED daytime running lights, fog lights, and heated power folding mirrors. It also includes a few driver assistance features, such as blind spot detection, rear cross-traffic alert, and lane change assist. A $2,300 Advanced Technology Package includes a power sunroof, smart cruise control, the collision and lane departure warnings, and autonomous emergency braking. Just below the Touring trim is the Launch Edition at $28,895. It comes in either Snow White Pearl or Aurora Black Pearl paint with a unique metallic grille and Hyper Gray 18-inch alloy wheels. It includes an eight-inch touchscreen navigation system and an eight-speaker Harman Kardon sound system. Topping the line is the $30,545 Niro Touring, which includes a power sunroof, park assist, heated and ventilated seats, heated steering wheel, and the Harman Kardon premium sound system. This level also offers the Advanced Technology Package, and $1,900 adds HID headlights, wireless phone charging, smart cruise control and the warning and braking systems offered at the other trim levels. Unfortunately, both the Touring and the Launch Edition suffer in fuel economy, at 43 mpg combined. For comparison, the base Kia Niro comes in $1,765 cheaper than the just slightly more efficient Toyota Prius's $25,550. The Ford C-Max Hybrid starts at $24,995, and falls short by about 10 mpg. The Niro is about the same price as the slightly larger, but much less efficient Hyundai Tucson.