2015 Kia Sorento Limited on 2040-cars

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Kia teases sporty hatchback concept ahead of Detroit

The UK arm of Kia just released a teaser image (click to enlarge) for a new concept car that will be unveiled next month at the Detroit Auto Show. With little information to go on, the single overhead shot of the unnamed concept shows that it will be a two-door hatchback with a 2+2 seating configuration.
The brief press blast, which is posted below, promises that this is a new concept vehicle, so it's unlikely that it has anything to do with the similarly shaped Provo Concept that Kia showed off earlier this year at the Geneva Motor Show. Kia says that it will release more images of the concept soon, but it won't divulge the full details about the car until Detroit.

Kia Stonic not coming to America

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — At this year's Frankfurt auto show, Kia showed off its new Stonic subcompact crossover, the Stonic. It features all of the hallmarks of the typical affordable little crossover. It has lots of customizability in the form of many two-tone paint options. It has chunky, lifted looks with plastic cladding. It also comes with class-competitive engines making 147 and 175 horsepower. It's also based on the same platform as the compelling little Kia Rio. It seems like a shoo-in for the American market, but when it goes on sale in Europe this year, it won't be doing the same on our shores. This was confirmed by a Kia representative. His official statement was that there are no current plans for selling it in the U.S. Considering how hot the crossover market is right now, even attracting corporate cousin Hyundai with its Kona, it seems surprising Kia wouldn't be interested in fielding its own take on the segment. Perhaps Kia has concerns about it cannibalizing sales of the highly successful Soul and the all-new Rio. We wouldn't count on the Stonic staying away from the States forever, though. All that was said was the Stonic isn't planned for the U.S. That's not an outright "no, it will not come here, period." It could just be that Kia isn't ready to announce the car's introduction here, or perhaps it's still gauging interest. Maybe Kia has other small crossover-esque plans, after all, as successful and competitive as the Soul has been, it's starting to age a bit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.