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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 recalling 1.2 million vehicles for seized engines

The Basics: Hyundai and Kia are recalling a total of 1,190,160 vehicles because the engine may seize, resulting in a crash. The vehicles affected are the 2013-2014 Sonata and Santa Fe Sport and the 2011-2014 Optima, 2012-2014 Sorento and 2011-2013 Sportage. The Problem: Errors during the machining process can cause a bearing in the engine to prematurely wear. This could cause the part to fail and the engine to seize. This in turn may cause a vehicle to crash. The issue was found due to the high number of warranty repairs for a recurring issue. Injuries/Deaths: There was no information on the websites for the National Highway Traffic Safety Administration, Hyundai, or Kia. We've reached out to the automakers for comment. The Fix: For Hyundai, the automaker will notify owners, and dealers will inspect the engine, replacing the engine short block, as necessary, free of charge. The recall is expected to begin May 19, 2017. Owners may contact Hyundai customer service at 1-800-633-5151. Hyundai's number for this recall is 162. The same goes for Kia, though the recall is expected to begin May 25, 2017. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC147. If You Own One: Wait for the notification letters from Hyundai and Kia. When possible, take your vehicle to your local dealer. If you want more details, contact either automaker at the number above. Related Video: Recalls Hyundai Kia kia sorento kia sportage hyundai santa fe sport

Porsche 911 Turbos, and the new Lotus Emira | Autoblog Podcast #686

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. The two talk about their experiences in the 911 Turbo and Turbo S Cabriolet, then pivot to talking about the BMW M3 Competition on the Indiana Nurburgring. They follow that up by discussing driver assistance systems, given recent experience in the 2021 Cadillac Escalade with Super Cruise and Hyundai's Highway Drive Assist. After that, they get into some news, talking about the new Lotus Emira and Genesis G80 Sport. Finally, they wrap up with a rather interesting two-for-one "Spend my Money" edition where they help two listeners with different car buying conundrums. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #686 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving: 2021 Porsche 911 Turbo S Cabriolet 2021 Porsche 911 Turbo 2021 BMW M3 on Indiana Nurburgring 2021 Cadillac Escalade with Super Cruise Long-term Hyundai Palisade update News: Lotus Emira Genesis G80 Sport Spend My Money, Double Edition Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Podcasts BMW Cadillac Genesis Hyundai Lotus Porsche Technology Convertible Coupe Crossover SUV Luxury Performance Sedan