2012 Hyundai Genesis Coupe 2.0t Damaged Salvage Only 23k Miles Economical L@@k! 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:

IED PassoCorso concept is a student-designed Hyundai we can get behind

Sometimes the best ideas come from fresh eyes, and a group of design students from Istituto Europeo di Design - better known as IED - are out to prove that sentiment with this striking Hyundai PassoCorto concept. This two-seat thesis project of the Master of Arts in Transportation Design program for the Turin, Italy school will be officially unveiled at the 2014 Geneva Motor Show beginning March 4.
The concept is said to be 161 inches long, 74 inches wide and 45.7 inches tall. It rides on a 96.5-inch wheelbase, which makes sense since passo corto means "short wheelbase" in Italian. The engine is tipped to be a mid-mounted, twin-turbo, 1.6-liter four-cylinder pumping out 266 horsepower. Judging by these images, we think the design looks fantastic, with all those sharp lines and creases drawing to a point in the rear. It shows a wonderful balance of being wild enough to draw attention, yet it almost looks realistic enough for the road.
The styling comes from 16 IED students coordinated by Luca Borgogno, lead designer for fabled Italian design house Pininfarina. The students were given a design brief by Hyundai to create a vehicle aimed at young, connected people like them. All of the students submitted a proposal, and two were selected to be merged together in a final look. The entire class contributed to bringing the design to full scale. Scroll down to get the full scoop on the little sports car concept.

Albert Biermann, the man behind some of Hyundai's sportiest cars, retires

Hyundai Motor Group, which includes Kia and Genesis, made big news by announcing at the end of 2014 that it was bringing on Albert Biermann to its research and development division. He had spent just over 30 years at BMW and was in charge of the M division before he left. His time at Hyundai led to some of the company's best driving cars, which meet or beat the global competition. But now, the company has announced Biermann is retiring. At 65 years old, it's not entirely surprising that Biermann would be looking at retirement, and he seems to be leaving on good terms. "Korea will remain as my second home, and all of my colleagues at Hyundai Motor Group will always be considered part of my family. I would like to recognize that our success has always been based on the strong collective spirit of the many talented people at Hyundai, and I will value our unique achievements wherever I live," he said in a release from Hyundai. Fortunately, Biermann will still be an Executive Technical Advisor for the company. Specifically, he'll be advising on electrified performance cars. We say fortunately, because Biermann has been so involved in some of the company's best cars. He helped make the company's rear-drive-based cars such as the Kia Stinger and Genesis models so fun to drive. He also helped setup Hyundai's N sub-brand, and the N models are among the best sport compacts in the world. Assuming Hyundai has taken to heart many things from Biermann, and with his continued advising, the company should still be in a good position. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Hyundai Kona N Short Cut