Automatic Factory Warranty Cruise Control All Power Cd Player Off Lease Only on 2040-cars

Auto blog

Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.

2016 Kia Optima SX Limited Quick Spin

There are some questions that aren't easily answered. Is it possible to only eat one Pringle potato chip? Who decided the band Creed was a good idea? And why the heck isn't the Kia Optima more popular? That last one that floated through our heads as we tested the refreshed 2016 Optima. Kia sold just under 160,000 Optimas in 2015, while Ford sold 300,000 Fusions, Honda shipped 355,000 Accords, and Toyota moved 429,000 Camrys. The Optima's low numbers didn't make sense then, and they certainly won't make sense when sales figures for the refreshed 2016 model roll in. For the third-generation Optima, Kia applied its trademark exterior design to a segment-leading interior and one of the most comfortable driving experiences in the segment. The result is a damn fine family sedan that really ought to help Kia find its way into a lot more driveways. Driving Notes We can debate the value of top-trim family sedans until we're blue in the face, but in the case of the Optima, you want the SX Limited that we tested. It's one of the only ways to score Hyundai/Kia's stout 2.0-liter, turbocharged four-cylinder engine (the other is the $30,515 SX). At 245 horsepower and 260 pound-feet of torque, it's down on output for model year 2016 – the 2015 model had an extra 27 hp and 9 lb-ft of torque – but gains two miles per gallon in the city and one on the highway, for a total of 22 and 32 mpg, respectively. Should we lament the loss of power? That's what we did when Kia first showed the 2016 Optima at the 2015 New York Auto Show. On the road, though, it's tough to pick out the drop in output. Nine pound-feet is negligible, and unless you're regularly playing in the high part of the rev range, you won't miss the extra power. The Optima pulls hard from a standstill, developing peak torque between 1,350 and 4,000 rpm. It'll get to 60 in what we guesstimate is the high six-second range. Yes, that is slower than both the six-cylinder Toyota Camry and Honda Accord, two sedans that are also lighter than the 3,600-pound Kia. Let's remember that these are family sedans, though, and the broad torque peak (and improved fuel economy) will be more important to your average consumer than the stopwatch figures. The Optima is more fuel efficient than the Japanese V6-powered competitors. Barely. And only in the city. That means the 2.0-liter's fuel economy has improved incrementally, not massively.

Next-generation Kia Sorento snapped undergoing testing

Kia has been busy - a refreshed Sorento just arrived in showrooms for the 2014 model year and the Korean manufacturer is already out undergoing advanced testing in the next-generation model. How, pray tell, do we know how far along testing is? Notice any cladding, or coverings, aside from the regular vinyl camo? Right.
Our predictive talents aside, there are still a lot of questions about the next Sorento. We don't have much to go on with the technical specs, although we'll be thunderstruck if there isn't some form of the Hyundai/Kia 2.0-liter turbo under hood. Our spies report that this new model is somewhat larger than the current Sorento, hinting that it might be riding atop the same platform as the long-wheelbase Hyundai Santa Fe. That could indicate an available V6 model, as well. Judging by the profile views, we'd bet our bottom dollar this is a three-row model.
The conflicting nature of a refreshed Sorento hitting dealers and an advanced prototype out testing in Europe makes it difficult to pin down a date for the third-generation CUV's debut. We doubt we'll be seeing the new Sorento before the end of the year - a 2014 debut with a 2015 on-sale date just seems more likely in light of the newness of the refreshed model.