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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 Soul EV starts production in Korea

As sister company Hyundai delivers its first Tucson fuel cell vehicles in California, Kia has kicked off volume production of the Soul EV in Korea. We've driven the prototype and are excited about the arrival of this electric vehicle. Kia is already calling the production start a landmark event, but let's remember that other automakers have been building production EVs for years now. The EVs won't be exported outside of Korea until later in 2014, but the automaker is hoping to make 5,000 a year at its Gwangju facility. The first batch is headed to "select European countries" with more coming to Europe at a later date. The vehicle might be coming to the US in the third quarter. The Soul EV is Kia's second production EV, following the Ray EV. Kia only made 2,500 of them for governmental agency use in Korea. We've got a little video on the Soul EV here. As a reminder, the Soul has a 27-kWh lithium-ion polymer battery which is good for a now-official range (on the European test cycle) of 212 kilometers. That's 132 miles, but expect a good chunk to get knocked off when it gets rated on the US text cycle. For example, the Nissan Leaf is rated at 199 kilometers (123 miles) in Europe but only 84 miles from the EPA. Read Kia's press release below. Start of production for all-electric Kia Soul EV Volume production of Soul EV for export is a landmark in Kia's history Ideal for commuters, Soul EV goes on sale outside Korea later in 2014 Class-leading drive range of 212 km certified for Europe 81.4 kW motor produces 285 Nm of torque for 'fun-to-drive' motoring The first vehicles off the production line are destined for select European countries and are scheduled to go on sale across the continent during the second half of the year. The Soul EV is manufactured at Kia's Gwangju facility in Korea, where annual output of the electric car is planned to reach 5,000 units. "Now that production of export models has begun, the new Soul EV is truly at the forefront of Kia's 'Clean Mobility' program, providing environmentally-friendly transport to our customers around the world," comments Thomas Oh, Executive Vice President and COO, Kia Motors Corporation.

Hyundai, Kia launching dedicated hybrids in 2017

The currently weak green car market isn't stopping Hyundai and Kia from staging an ongoing electrified onslaught, and it's primed to just keep growing. Already familiar with the field thanks to vehicles like the Sonata Hybrid, Tucson Fuel Cell, and Kia Soul EV, for the 2017 model year the Korean siblings are launching their first dedicated hybrids, according to Automotive News. Since last year, the hybrids have been spotted testing several times while wearing heavy camouflage. Hyundai's version will reportedly be styled as a Chevrolet Volt-fighting sedan. Conversely, Kia will go for a more directly Prius-challenging hatchback. Underneath, they'll share a powertrain consisting of a direct-injected, 1.6-liter four-cylinder and electric motor. Both will use the same platform based on the next-gen Elantra and Forte, according to Automotive News. In addition, Hyundai will get a pure EV version of its model to launch in California in 2017, while Kia reportedly won't. According to Automotive News, the companies' strategy is reportedly to be ready when gas prices eventually rise again. "When they come back up and people start looking for hybrids again, it'll be very nice to be able to give buyers an option besides just the Prius," said Adam Kraushaar, president of a New Jersey Hyundai dealer. Further complimenting the electrified plans, a plug-in version of the Kia Optima Hybrid is also reportedly on the way. With its launch, the two brands would have a total of nine hybrid, EV or fuel cell vehicles on offer by the 2018 model year.