2013 Kia Sorento Lx Awd/4x4 7-pass Third Row Alloys 42k Texas Direct Auto on 2040-cars

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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:

Wonder Woman Kia Sportage is anything but invisible

The spectacular partnering of Kia and DC Entertainment (the company we grew up loving as DC Comics) continues here at the New York Auto Show, with this Wonder Woman-inspired 2013 Kia Sportage. Ardent Autoblog readers will undoubtedly remember the fruits of earlier Kia/DC efforts: Batman Optima, Flash Forte Koup, Green Lantern Soul, Cyborg Forte, Aquaman Rio and Superman Optima Hybrid. (We're still trying to figure out who Cyborg is, too.)
The Wonder Woman Sportage, sporting the Amazing Amazon's particularly patriotic livery, is perhaps the most, eh, eye-catching super-Kia to date. (Actually, no, none of the superhero rides seared our eyeballs like Supe's hybrid.) Red, white and blue paint with spangled sides, an aggressively low body kit and a WW logo grille really sell the theme. Of course, The Lasso of Truth is represented too, showing up in the design as a subtle gold line that wraps around the bodywork.
As with the earlier DC concept cars, the Wonder Woman Sportage's real goal - aside from entertaining the kid-contingent of auto show goers - is to raise awareness for the We Can Be Heroes charity. The DC charitable program seeks to raise money and awareness about the hunger crisis in Ethiopia, Kenya and Somalia. Get a better look at Wonder Woman's crossover in our attached galleries and find the Kia press release below.

Hyundai, Kia ratchet up fleet sales as retail transactions slide

Automotive News reports both Hyundai and Kia have stepped up fleet sales in an attempt to offset disappointing first quarter results. The Korean automakers saw their sales decline by nine percent compared to last year, while all major competitors managed to increase their sales. That situation marks an inversion of two years ago, when both gained ground after Japanese rivals suffered production and inventory shortages after the country's earthquake and tsunami tragedies.
Now, Hyundai can't come up with enough volume models in popular trim configurations to satisfy buyers, and lower-volume models are also in a snag. At the moment, Hyundai can only build 20-30 percent of Veloster hatchbacks with turbocharged engines while the US market would apparently support closer to 70 percent.
In order to reverse the sales slide, Hyundai and Kia have stepped up fleet sales of the vehicles they do have by some 50 percent, ringing up a total of 42,400 units in the first quarter. By contrast, Automotive News reports the seven largest automakers increased retail volume by seven percent and fleet sales by four percent as a group.