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Kia negotiating to build $1.5B auto plant in Mexico

After a string of recent announcements from automakers, Kia may be the next business to break ground on a factory south of the border. The Korean company is reportedly nearly finished with negotiations to build a $1.5-billion plant near the city of Monterrey in the Mexican state of Nuevo Leon. The state's secretary of economic development confirmed the news to Reuters and anticipated talks to be completed in the first two weeks of August. Unnamed insiders also said that the location was aiming for an annual production capacity of 300,000 vehicles.
Rumors from a month ago first suggested the possibility of the new factory. It would reportedly build two models of small cars, and assembly could potentially begin as soon as 21 months after breaking ground. Currently, Kia only has one North American plant, in Georgia, that builds the Sorento and Optima.
In the last few years, Mexico has become of hotbed of North American automobile production. Mazda, Honda and Volkswagen all recently opened new or expanded factories to build cars there. There are even more on the way with a joint venture plant from Mercedes-Benz and Infiniti and BMW's announcement of its own $1 billion undertaking in Mexico.

Kia Stinger base trim is for people who hate colors

The 2018 Kia Stinger is a looker, and at least in twin-turbo V6 guise, a pretty impressive performer, too. Not only that, its base price of $32,795 is quite attractive for the base turbocharged four-cylinder model, which with 255 horsepower and rear-drive is still a compelling package. Unfortunately, there's a hitch with the affordable four-cylinder cars: You don't have any real color choice. As it turns out, the base-model Stinger has just three color options. They consist of white, silver, and black. Yay. Paying an extra $5,200 for the Stinger Premium, while adding additional features such as a sunroof and premium sound system, only adds one more color, blue. The only way to get the full spectrum of colors including white, silver, dark gray, black, blue and red is to pony up for a Stinger GT, the V6 version. That model starts at $1,250 more than the four-cylinder Stinger Premium, and $6,450 more than the base version. So if you want a colorful Stinger, you'd better be ready to buy the one with the big engine. On the plus side, though, you get a whole lot performance for not a lot more than a top-end four-cylinder. Related Video: Image Credit: Kia Kia Car Buying Hatchback Performance Sedan consumer kia stinger gt kia stinger

Hyundai and Kia to hit record 8M sales for 2014

Hyundai and Kia are on a sales charge in 2014, and parent company Hyundai Motor Group is increasing projections to a record eight million combined units for the automakers by the end of the year – a bump over the original target of 7.86 million vehicles. According to Bloomberg, the key to the growth is beating expectations in Brazil, China and India, and strong crossover sales are also helping the bottom line. In the US, both automakers are doing well this year. In October, Hyundai saw a six percent dip in monthly sales, but through the first 10 months it sold 607,539 vehicles, compared to 601,773 at this point last year. Kia has done even better with 489,711 units sold from January to October, versus 456,137 for the period in 2013. The good news is a welcome antidote to negative headlines like investors' anger over Hyundai's $10 billion land purchase in Seoul, South Korea. The two automakers also had to pay a $300 million penalty to the Environmental Protection Agency for misstating fuel economy on some models. While sales may reach a new record, profits might not grow as much with them. The strong Korean won means that Hyundai and Kia have a tougher time keeping up profit margins compared to Japanese competitors with a weaker yen.