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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

2020 Kia Telluride makes surprise debut at New York Fashion Week

About two and a half years after the concept's debut in Detroit, the (mostly) production 2020 Kia Telluride has been revealed in New York for Fashion Week. The odd location for the reveal has to do with a partnership with fashion designer Brandon Maxwell who got Kia to donate to his childhood school district in Marfa, Texas, as part of the deal to display the SUV at the show. It has also been customized to fit Maxwell's Texas-themed line of fashion for spring and summer of 2019. Although the production SUV is partly obscured by custom features such as the off-road bumpers, skid plates, auxiliary lights, ladder and spare tire, this is still our best look yet at the SUV. There's clearly a lot of influence from the old concept, but there's also been quite a bit of compromise for production. It's a clean design that's still pretty squared off. The headlight and grille design borrow heavily from the concept, and the taillights are pulled right from it. It's much taller now and more rounded. The rear hatch isn't upright and vertical anymore, the front fascia has been given an arc that softens it, and the proportions between the headlights and grille seem like they may still be in flux. Kia is still keeping many of the technical details under wraps. The company says that the Telluride will have seating for up to 8 passengers, and that it's a few inches longer and wider than the current largest crossover in its line, the 7-passenger Sorento. It will also have a V6 under the hood. Availability and pricing still have yet to be announced, but we expect it to go on sale early next year. The crossover will be assembled at Kia's factory in Georgia. Related Video:

These cars are headed to the Great Crusher In The Sky

It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.