2010 Hyundai Sonata Gls 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 spotted testing Prius-style hybrid

The Toyota Prius has become an automotive icon – maybe less so among actual automotive enthusiasts than with the public at large – to the extent that most anyone on the street would recognize its five-door hatchback form and immediately identify it as a hybrid. Little wonder that Honda tried to emulate it with the second-gen Insight, but while that didn't work out so well for Honda, it looks like Hyundai is preparing to go down the same road with a dedicated hybrid of its own. Our paparazzi on the ground in the Arctic Circle have spotted this protoytpe and tell us what we're looking at is a new Prius-fighter from the Korean automaker. Snapped up high on a transporter truck, you can see the orange high-voltage cables underneath and a label with the letters AE HEV – the latter standing, of course, for Hybrid Electric Vehicle. We wouldn't be surprised if the AE stood for Advanced Experimental or Alternative Energy or something of the sort. Tipped to be based on the same platform as the next-generation Elantra, the new Hyundai hybrid is said to pack a 1.6-liter inline-four working in parallel with an electric motor juiced by a lithium-ion battery pack. It's expected to begin production in the second half of 2016, with a plug-in and possibly other variants to follow a year to a year and a half after its initial launch.

Hyundai Recalling 883,000 Sonata Sedans

DETROIT (AP) - Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. The recall covers 883,000 cars from the 2011 through 2014 model years. The Korean automaker says the automatic transmission shift cable can separate from the shift lever. If that happens, the lever may not show the correct gear, increasing the risk of a crash. Also, if the driver stops the car and puts the transmission in "park," the car may still be in gear and could roll away, injuring drivers, passengers or bystanders, Hyundai said in documents posted Wednesday by the U.S. National Highway Traffic Safety Administration. Other symptoms include an inability to start the car because it can't be shifted into park. Hyundai has received 1,171 warranty claims about the problem, plus seven other reports with related symptoms. The documents don't say if there have been any crashes or injuries. The Sonatas being recalled were made from Dec. 11, 2009 through May 29, 2014. The Sonata is Hyundai's second-best-selling car in the U.S. so far this year. First is the compact Elantra. Hyundai will notify owners by letter between now and the end of September. Dealers will inspect the shift cables and repair the connection if needed. Owners with questions can call Hyundai customer service at (800) 633-5151. Recalls Hyundai