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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.

Kia introduces sleek Novo Concept at Seoul Motor Show

As you've no doubt noticed, we're deep, deep into coverage of the 2015 New York Auto Show. But despite the glitz and glamor of the Big Apple, our attention is also draw to Asia today, where Kia has introduced the handsome Novo Concept at the 2015 Seoul Motor Show. Powered by a 1.6-liter, turbocharged four-cylinder and with a seven-speed dual-clutch transmission shipping power to the front wheels, the Novo's powertrain is not unlike what we saw yesterday in the 2016 Optima. Of course, that's the extent of the technical details, as the Novo is far more of a design exercise than a tech demonstrator. Taking its name from the Latin for "to make new," the Novo was designed by Kia's team in Namyang, South Korea. Billed as a four-door coupe – as is the trend nowadays – the Novo rides on a version of the company's C-segment platform, giving some idea of its size. Kia's hallmark "tiger nose" grille is flanked by laser headlights, and is the most obvious tie-in to the brand's current design language, while other elements, like its fastback profile and pillar-less greenhouse are add some spice to the visuals. Those compact rear doors are hinged at the rear. Meanwhile, a vertical side grille, reminiscent of the early Jaguar XF, meets a strong shoulder line that extends from the headlights and terminates in the middle of the rear door. Kia has released a spate of images of the new car, which accompanies the company's design-oriented press release. Head down and take a look. Related Video: KIA NOVO FASTBACK CONCEPT PREMIERED AT SEOUL MOTOR SHOW Coupe style for Kia's latest concept Minimalist interior with high-tech features 1.6 litre turbo GDi engine and seven-speed DCT Delivering a bold and exciting, coupe style with a driver-focused cabin, Kia's latest concept car, the Novo, has been unveiled at the 2015 Seoul Motor Show. Giving clear hints at future Kia styling and strategy the Kia Novo is aimed at modern urbanites with stressful jobs and frantic schedules. Interpreted by Kia's designers, the name 'Novo' represents the concept of making something new and fresh. Taking its name from the Latin 'novatus' the Kia Novo concept establishes a calming, focused environment in which drivers can refresh and rejuvenate as they transition from one life commitment to the next. Fittingly, 'novatus' also provides the origin of the English word, 'innovation', which the Novo concept brings to life with thoroughly innovative styling and high-tech interior features.

Kia to reveal 2015 Sedona minivan in New York

Hold on to your sippy cups, America. The Kia Sedona minivan may have gone to recess for the 2013 model year, but it mounted a quiet comeback for 2014 sporting the slightest of updates. Thankfully, those minor tweaks will only have to sustain it a short time. Kia knows it can't afford to nap for another year against strong rivals like the Honda Odyssey and Chrysler Town & Country, and the Korean automaker remains committed to duking it out in the kinshlepper segment. So committed, in fact, that Autoblog has learned it will launch its third-generation minivan at April's New York Auto Show.
As seen in these spy shots captured last August, the 2015 Sedona will incorporate styling cues from Kia's well-recieved 2012 KV7 concept, and it's predicted to feature more refined drivetrains and interior appointments, including Kia's latest UVO infotainment system and available rear-seat entertainment. We further expect fuel economy figures to get a nudge upwards thanks to fuel-saving features like electric power steering and direct injection.
Given the minivan segment's 'safety first' mindset, look for the next Sedona (known elsewhere as the Carnival) to offer a full quiver of active safety features, including blind-spot detection and a lane-departure warning system - two popular features the 2014 model does without.