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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

Kia confirms Soul EV headed to US, cue the electric hamsters

Kia has been toying with the notion of an electric vehicle for years now. In the two years since the Korean automaker revealed the Ray EV concept, rumors of a battery-powered production vehicle have persisted, evidenced most recently by spy shots showing an electric version of the Soul hatchback this past July. Now Kia has officially announced that the Soul EV is heading for production.
Although Kia has yet to reveal official photos or specifications, this is the first confirmation we've received that the Soul EV is indeed headed for a showroom near you. Set to arrive sometime next year, the Soul EV promises to pack an as-yet unspecified arrangement of electric motors and batteries and visual cues that aim to improve the vehicle's aerodynamics and differentiate it from the conventionally powered Soul.
We'll have to wait until its debut approaches at an undetermined upcoming auto show in the US for more details, but for now you can delve into the official announcement below and scope out those same spy shots in the gallery above.

Kia reveals updated 2016 Rio hatchback and sedan [w/videos]

Kia makes vehicles of all different shapes and sizes (or many shapes and sizes, in any event), and the smallest of them all... well, that'd be the Picanto, but that's not sold here. The smallest Kia we get Stateside is the Rio, and it's just been updated for the 2016 model year and revealed here in Chicago. An update on the existing version rather than an all-new model, the new 2016 Kia Rio actually debuted in hatchback form at the Paris Motor Show a few months back. But this is the first time we're seeing the US model, where it's being showcased alongside its betrunked stablemate, the Rio sedan. Both bodystyles benefit from updated styling at both ends with new grilles and new lights front and rear. There are also some new paint options, and the interior has been updated with more high-density foam, higher-quality materials and revised trim. In addition to the choice of bodystyle, the Rio can also be ordered in three trim levels with varying levels of equipment, but they're all powered by the same 1.6-liter inline-four with 138 horsepower and 123 pound-feet of torque. They're mated to a six-speed transmission in either manual or automatic forms, though the stick has been discontinued on the five-door hatch. 2016 RIO 5-DOOR DEBUTS AT CHICAGO AUTO SHOW The new year brings refreshing enhancements to Kia's entry-level sedan and hatch at the 2015 Chicago Auto Show - New front and rear valances add visual width and sporty attitude; two new exterior colors added - Interior enhancements include upgraded UVO eServices1 technology and a more premium look and feel CHICAGO, Feb. 12, 2015 – Chicago's gleaming skyline and indie rock music were the backdrops today as Kia Motors America (KMA) pulled the wraps off the 2016 Rio Sedan at the Chicago Auto Show. Making its global debut alongside the previously introduced Rio 5-Door (Paris, 2014), these two modern and dynamic subcompacts are the entry points into KMA's ever-expanding lineup of award-winning cars and CUVs. Refreshed inside and out for the 2016 model year, the pair offer sporty European design cues and generous interior accommodations while providing fuel efficiency. Both Sedan and 5-Door are expected to go on sale in the first quarter. "The Rio signifies everything the Kia brand has evolved into since coming to the U.S. market more than 20 years ago," said Orth Hedrick, vice president of product planning. "And like the brand, the Rio has grown up as it enters the 2016 model year.