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South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus

Next-gen 2021 Kia Sorento shown inside and out in leaked pics

We’ve seen spy shots of the next-generation Kia Sorento in both heavily camouflaged form and running laps around the Nurburgring (!), where it was wearing a more form-fitting wrap. Today, Instagram user CocheSpias leaked photos of the redesigned midsize SUV with the cover partially pulled back, giving us our best look yet inside and out. Kia has given the front fascia a thorough and stylish overhaul. It looks much more muscular and chiseled, with a crisp, curved line defining the hood and grille and a much more squared-off shape to the lower bumper. The clustered trio of LED headlights are more integrated with the grille by removing the chrome strip that formerly separated them. The exposed taillights that featured on the mule spotted on the ‘Ring have been resolved as double vertical hash marks. The lower bumper is still concealed. Inside, the seat stitching is similar to the pattern found on the larger and more upmarket Telluride, introduced last year. The cluster and center stack have been redesigned, with a larger touchscreen that is now separate from the heat vents. The shifter has been replaced by a dial shifter. Kia has reportedly confirmed that the new Sorento will be offered a plug-in hybrid variant. The Korean Car Blog, citing an unnamed source, reports the new Sorento will debut as early as mid-February in Korea, with hybrid and plug-in hybrid versions coming in May, though itÂ’s not clear whether all versions would come to the U.S. The current version of the three-row crossover comes in a choice of two engines: a 2.4-liter inline-four making 185 horsepower and 178 pound-feet of torque, or a 3.3-liter V6 offering 290 hp and 252 lb-ft of torque. We should get a more official rundown about what's in store soon. Related Video:    

Kia shows off 2 tuned Stingers, modified Cadenza at SEMA

Ascendant Korean automaker Kia is leaving its mark on the SEMA Show in Las Vegas with two versions of its forthcoming 2018 Stinger GT, including the wide-body version developed with West Coast Customs that we previewed recently, and a sumptuous version of its premium sedan it's calling the Cadenza Obsidian. The third model is the Stinger GT Federation, which Kia says marks its foray into offering high-performance aftermarket parts through suppliers in conjunction with a vehicle launch (the production Stinger hits showrooms in December). Kia pairs the GT Federation with Air Design USA performance kits like a rear spoiler, rear diffuser and redesigned hood vents that contrast with the fastback's custom creamy-orange paint. The GT-standard twin-turbo 3.3-liter engine gets an added 15 horsepower, taking it to an estimated 380 hp, thanks to a K&N cold-air intake and a low-restriction quad-tipped Borla exhaust. It also gets Eibach springs, beefier antiroll bars and a reduced ride height, plus staggered 20-inch TSW wheels with Falken tires. Kia teamed with West Coast Customs for both the Stinger GT Wide Body and the Cadenza Obsidian sedan. The latter gets an upscale aesthetic makeover with ultra-dark ceramic window tint, metallic black body paint and copper accents inside and out. It rides on a lowered suspension with stiffened sport springs and custom 20-inch gloss-black Keen wheels with Cosmic Copper trim. Inside, there's hand-stitched suede dashboard top panel, "butter-soft" brown leather seats with suede inserts, and custom brown suede door panels. Oh, and there's a Harmon Kardon 630-watt premium sound system with an integrated subwoofer — perfect for belting out "Let It Go" at full voice during your morning commute. Kia also revealed new details about the Stinger GT Wide Body, which takes its inspiration from grand-touring racing cars of the 1970s. Its suspension has been lowered 1.4 inches up front and 1.2 inches in the rear, and it rides on 21-inch Keen forged wheels fitted with high-performance tires. The body gets wide fenders, a lightweight carbon-fiber aero kit and rear diffuser, plus quad-port exhaust tips. Inside, the makeover features custom blue leather seat piping, a hand-stitched gray leather dash panel, Alcantara-wrapped steering wheel and gloss-black center console trim.