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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.

Kia teases sporty hatchback concept ahead of Detroit

The UK arm of Kia just released a teaser image (click to enlarge) for a new concept car that will be unveiled next month at the Detroit Auto Show. With little information to go on, the single overhead shot of the unnamed concept shows that it will be a two-door hatchback with a 2+2 seating configuration.
The brief press blast, which is posted below, promises that this is a new concept vehicle, so it's unlikely that it has anything to do with the similarly shaped Provo Concept that Kia showed off earlier this year at the Geneva Motor Show. Kia says that it will release more images of the concept soon, but it won't divulge the full details about the car until Detroit.

Kia Soul EV starts production in Korea

As sister company Hyundai delivers its first Tucson fuel cell vehicles in California, Kia has kicked off volume production of the Soul EV in Korea. We've driven the prototype and are excited about the arrival of this electric vehicle. Kia is already calling the production start a landmark event, but let's remember that other automakers have been building production EVs for years now. The EVs won't be exported outside of Korea until later in 2014, but the automaker is hoping to make 5,000 a year at its Gwangju facility. The first batch is headed to "select European countries" with more coming to Europe at a later date. The vehicle might be coming to the US in the third quarter. The Soul EV is Kia's second production EV, following the Ray EV. Kia only made 2,500 of them for governmental agency use in Korea. We've got a little video on the Soul EV here. As a reminder, the Soul has a 27-kWh lithium-ion polymer battery which is good for a now-official range (on the European test cycle) of 212 kilometers. That's 132 miles, but expect a good chunk to get knocked off when it gets rated on the US text cycle. For example, the Nissan Leaf is rated at 199 kilometers (123 miles) in Europe but only 84 miles from the EPA. Read Kia's press release below. Start of production for all-electric Kia Soul EV Volume production of Soul EV for export is a landmark in Kia's history Ideal for commuters, Soul EV goes on sale outside Korea later in 2014 Class-leading drive range of 212 km certified for Europe 81.4 kW motor produces 285 Nm of torque for 'fun-to-drive' motoring The first vehicles off the production line are destined for select European countries and are scheduled to go on sale across the continent during the second half of the year. The Soul EV is manufactured at Kia's Gwangju facility in Korea, where annual output of the electric car is planned to reach 5,000 units. "Now that production of export models has begun, the new Soul EV is truly at the forefront of Kia's 'Clean Mobility' program, providing environmentally-friendly transport to our customers around the world," comments Thomas Oh, Executive Vice President and COO, Kia Motors Corporation.