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Hyundai and Kia to hit record 8M sales for 2014

Hyundai and Kia are on a sales charge in 2014, and parent company Hyundai Motor Group is increasing projections to a record eight million combined units for the automakers by the end of the year – a bump over the original target of 7.86 million vehicles. According to Bloomberg, the key to the growth is beating expectations in Brazil, China and India, and strong crossover sales are also helping the bottom line. In the US, both automakers are doing well this year. In October, Hyundai saw a six percent dip in monthly sales, but through the first 10 months it sold 607,539 vehicles, compared to 601,773 at this point last year. Kia has done even better with 489,711 units sold from January to October, versus 456,137 for the period in 2013. The good news is a welcome antidote to negative headlines like investors' anger over Hyundai's $10 billion land purchase in Seoul, South Korea. The two automakers also had to pay a $300 million penalty to the Environmental Protection Agency for misstating fuel economy on some models. While sales may reach a new record, profits might not grow as much with them. The strong Korean won means that Hyundai and Kia have a tougher time keeping up profit margins compared to Japanese competitors with a weaker yen.

Hyundai and Kia set aside $412 million for false mileage claims

We still don't know how the whole fuel economy ratings debacle is going to play out for Hyundai and Kia, but both automakers are preparing to make good on their promises to reimburse vehicle owners for lower-than-promised mileage figures. According to Automotive News, Hyundai and Kia have set aside a combined total of $412 million ($225 million for Hyundai and $187 million for Kia) as compensation, which will be sent out on a case-by-case basis via debit cards depending on the vehicle and the mileage driven.
Announced back in November, the exaggerated miles per gallon claims affect around 900,000 Kia and Hyundai products produced for the 2011 through 2013 model years sold in the US and Canada. This whole deal has had plenty of action ranging from suspected whistleblowing from a rival US automaker and even insider trading, but it has probably been most frustrating for vehicle owners who, in most cases, saw their vehicles' city and highway ratings drop between one and three digits.

Kia hopping on the 48-volt ultra-mild hybrid bandwagon

Kia has announced that it will join an expanding line of automakers, including Audi, Ram, Volvo and others, adding ultra-mild 48-volt hybrid systems to their engines. The system works like other systems in that it has a combination starter and generator connected to the engine crank via a belt. It allows the engine to be shut off earlier than simply at a stop, and provides a bit of electrical assistance to reduce how much the engine has to work on takeoff. The system will first be implemented in Europe with the Kia Sportage and with its diesel engine in 2018. In 2019, the Kia Ceed small car will also be offered with the system. Kia says the system will also appear on gasoline engines in the near future. However, a representative from Kia's U.S. branch wouldn't comment either way on whether the technology will come to America. We think it's a pretty safe bet that we'll see the technology offered in the U.S. soon. Kia makes it clear that this system is designed to be easy to implement. It says there are hardly any packaging issues, usually putting the battery under the trunk floor, and the starter/generator motor doesn't typically require reworking the engine bay much. It also should work with rear-, front-, or all-wheel-drive layouts and with manual and automatic transmissions. If it were only going to be on diesel engines, we could see how Kia might not bring it, but since it will also be featured on gas engines, we're sure it will show up on our shores soon. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.