2010 Hyundai Sonata Gl Sedan 4-door 2.4l 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:

Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

Buick Regal, Hyundai Sonata

Toyota is ramping up production of an all-new 2018 Camry and spending over $1 billion – with a "b" – at its Georgetown, Ky., plant. That investment speaks to the popularity of midsize sedans, despite sales inroads made by crossovers. While Accord and Camry are givens in the segment, less attention is paid to Buick's Regal and Hyundai's Sonata. And if shopping for a midsize sedan with a $30,000 budget, you should pay attention. Both offer a compelling combination of attributes and can be well equipped for that price point. Finally, both are due for either a major redesign (Regal) or aggressive freshening (Sonata) in the 2018 model year. Both Buick and Hyundai will be offering incentives 2017s, but Hyundai's program is more aggressive, with up to $6,000 in savings (as this is written). BUICK REGAL: For those seeking exclusivity at well below an "exclusive" price, there is the Regal. Designed by GM's Opel as the Insignia, the version sold stateside keeps most of its Eurocentric nature. It doesn't pretend to be an Audi or BMW, but it provides something more German than Volkswagen's Germany-by-way-of-Tennessee Passat. A Regal, in all-wheel-drive 'Regal' trim, supplies you with a turbocharged 2.0 liter and 6-speed automatic transmission. Its 259 horsepower and 295 pound-feet of torque propel the 3,600-pound Regal with authority and respectable efficiency. Despite its relatively low curb weight, the Regal feels substantial, with a heavy feel behind the wheel and a quiet authority going down the road. Inside, you'll find an interesting mix of Old World and New Detroit, with informative gauges, a center stack that dominates the instrument panel, supportive buckets up front and a reasonably spacious rear seat. The Regal's interior volume is respectable (97 cubic feet inside, while the trunk has 14 cubic feet), but this remains a better environment for young families or empty nesters. Those with a lot of kids or stuff should shop Buick's about-to-be-redesigned Enclave or midsize Envision. For the 2017 model year, Apple CarPlay and Android Auto have been added. The Driver Confidence 1 package (optional) includes Forward Collision Alert, Lane Departure Warning, Lane Change Alert, Side Blind Zone Alert, Rear Cross-Traffic Alert, Following Distance Indicator and memory seats. Driver Confidence 2 has Collision Preparation with Collision Mitigation Braking and Full Speed Range Adaptive Cruise Control. It's all good stuff.