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Nuclear deal could make Iran next big car market

Iran is a huge and hugely appealing target for Western firms - it's population is nearly the size of Germany's, it is well educated and includes a substantial middle class, and there is a built-in industrial capability. Because of the sanctions that have been in place for nearly five years now over its nuclear program, however, its citizens and domestic industry haven't been able to purchase and expand, so investment opportunities are not only manifold, they are severely undervalued. Most of the auto industry has been sitting on the sidelines waiting for the Iranian game to start. A report in Automotive News says that Iran's two automakers, Iran Khodro and SAIPA - Societe Anonyme Iranienne de Production Automobile - produced one million light vehicles last year for 77.5 million people. According to Wikipedia there were 200 vehicles per 1,000 citizens in 2012, and that was before the industry took a nosedive. That number puts it between Uruguay and Jamaica. Chery, Kia, Peugeot, and Renault were the carmakers with major operations in-country before all but Chery pulled out. In the vacuum, Chery and other Chinese automakers have thrown lots of product at the market, getting 27 models in a range of segments built or supplied there, with results that are probably best described as ambivalent among observers but financially lucrative for the Chinese. Peugeot has re-established ties, and Kia, Mercedes-Benz, Peugeot, Renault, Toyota, and Volkswagen were attendees at the Iran Auto Show last November. The domestic companies say that this time they want local investment that includes technology transfer, so the Western carmakers that do decide to get in will find tougher negotiators than before. Peugeot, for instance, had a 51-49 partnership with Iran Khodro before pulling out; the new agreement is a 50-50 venture. As a 'gift' to the world for a final deal that encourages global investment, Bloomberg says that the price of crude would go down by $15 per barrel. News Source: Automotive News - sub. req.Image Credit: Atta Kenare/AFP/Getty Images Earnings/Financials Government/Legal Kia Peugeot Renault iran sanctions khodro

Kia GT4 Stinger gets top-down teaser

Kia has issued another teaser for its hotly anticipated GT4 Stinger Concept, which is set to debut at the 2014 Detroit Auto Show early next week. Our third teaser for the new car is from above, showing a squat, compact sports car form that makes us rather hopeful for the upcoming debut.
All signs point to the GT4 being a looker, with noticeable vents in the hood, a small back window and rather meaty C-pillars and rear haunches. When Kia calls this "sculpted" in the press release, we're certainly inclined to agree.
As we told you when revealing the GT4's last teaser, a 2.0-liter turbo will be responsible for motivating the rear-drive 2+2. If it held on to the concept's 315 horsepower, a production version of the Stinger Concept would certainly seem like it could have the potential to keep pace with the new EcoBoost-powered Ford Mustang, as well as the Genesis Coupe, from Kia's favorite corporate frenemy, Hyundai.

Kia recalling 377k Sorentos that can accidentally shift out of park

Kia has announced that it will recall 377,000 Sorento crossovers built between October 19, 2009 and January 31, 2013, which equates to model years 2011 through 2013. The affected vehicles may suffer failure in the brake-shift interlock mechanism. Put enough force on the lever and the interlock will crack or chip. Once that happens, the Sorento can be shifted out of park without stepping on the brakes. That's bad news for safety, and as the National Highway Traffic Safety Association bulletin notes, it's a violation the Federal Motor Vehicle Safety Standards on theft protection. Naturally, Kia will notify owners of the affected vehicles and ask them to report to dealers for a new brake-shift interlock mechanism. Repairs will be carried out free of charge. The official start date of the recall is November 24. Read on for the official press release from Kia. RECALL Subject : Brake-Shift Interlock Mechanism Can Chip or Crack Report Receipt Date: OCT 06, 2015 NHTSA Campaign Number: 15V626000 Component(s): POWER TRAIN Potential Number of Units Affected: 377,062 Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2011-2013 Kia Sorento vehicles manufactured October 19, 2009, to January 31, 2013. In the affected vehicles, if excessive force is applied to the gear shift lever, the brake-shift interlock mechanism may chip or crack allowing the transmission being able to be shifted out of "Park" without the brakes being depressed. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 114, "Theft Protection." CONSEQUENCE: Without requiring the brake to be pressed, the vehicle may be unintentionally shifted out of Park, allowing it to roll, which may result in a crash. REMEDY: Kia will notify owners, and dealers will replace the brake-shift interlock mechanism, free of charge. The recall is expected to begin November 24, 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC124. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.