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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

EPA says it will more closely monitor fuel economy claims from automakers

The unintended acceleration brouhaha at Toyota led to the National Highway Transportation Safety Administration tightening the vise on recall procedures. Likewise, the fuel economy kerfuffle that blew up with Hyundai and Kia's admission of overstated fuel mileage claims could lead to the Environmental Protection Agency policing automaker assertions by performing more audits.
At least, that's what a senior engineer with the government agency said while in Michigan giving a talk, according to a report in Automotive News. What that actually means, however, is still in question. Just ten to 15 percent of new vehicles - something like 150 to 200 cars per year - are rested by the EPA to verify automaker numbers. The EPA's own tests include a "fudge factor" to adjust lab mileage for real-world mileage, and the agency still relies on automakers to submit data for tests that it doesn't have the facilities to perform. How much more auditing can the EPA really expect to do, or perhaps a more relevant question would be how much more accurate could the EPA's audits become?
The price of gasoline, the psychological importance of 40 miles per gallon to a frugal car buyer, an automaker wanting to further justify the price premium of a hybrid, all of these things contribute to fuel economy numbers that insist on creeping upward. Perhaps the senior engineer encapsulated the whole situation best when he said, "Everybody wants a label that tells you exactly what you're going to get, but obviously that's not possible. A good general rule of thumb is that real-world fuel economy is about 20 percent lower than the lab numbers." If the lesson isn't exactly 'buyer beware,' it's at least 'buyer be wary.'

Kia Soul EV will start sales in five more states by June

The Kia Soul EV has proven itself to be enough of a hit that it will be headed to Texas and four other states by this summer. Yee-haw. The Soul EV, which started US sales in California late last year, will go on sale in the Lone Star State, as well as Georgia, Oregon, Washington and Hawaii by June. Kia says residents of those states have "expressed significant interest" in the Soul EV, and notes that those five states have more than 1,800 publicly available charging stations combined. Other states will get the Soul EV next year. The Soul EV just won the first-ever Canadian Green Car of the Year Award from journalists in the Great White North. The Soul EV, notably associated with those grooving hamsters in the TV ads, beat out the Honda Fit, Subaru Legacy and Toyota Camry Hybrid. The Soul EV starts at $33,700 and has a single-charge range of 93 miles and delivers 109 horsepower. We've got Kia's press release on the expanded sales areas below and our Quick Spin of the Kia Soul EV for you right here. Related Videos: KIA MOTORS AMERICA EXPANDS SOUL EV AVAILABILITY TO FIVE ADDITIONAL STATES Hot-Selling Soul Electric Vehicle Will be Available for Sale in Georgia in Q2; Oregon, Washington, Texas and Hawaii Anticipated in June Expansion into five new states underlines Kia's commitment to green mobility and its fun and funky alternative fuel vehicle Solid infrastructure and consumer demand propel Soul EV beyond California IRVINE, Calif., March 25, 2015– Following the successful launch of the Soul EV late last year in California, Kia Motors America (KMA) is proud to announce it is expanding availability of its fullycharged urban runabout into five new states: Georgia, Texas, Oregon, Washington and Hawaii. Electric vehicle demand has been growing in these states, and consumers there have expressed significant interest in Soul EV. And with more than 1,8001 charging stations combined, the robust EV infrastructure within these markets makes battery-powered travel convenient and an increasingly appealing choice for consumers. Within each state, select Kia retailers will be certified to sell and service the Soul EV, and customers will have access to charging stations installed at these facilities. The Soul EV-authorized Kia dealership locations will be announced closer to the Soul EV's on-sale date in the expansion states later this year. Additional markets are set to come online in 2016.