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How automakers stand to benefit from Iran

The big global news of late is a deal that sees a number of major powers easing some sanctions on Iran in return for the Middle Eastern nation scaling back its nuclear program. This thawing of relations between Iran and the West could have far-reaching impacts in both the near and long term, particularly on the auto industry.
As Bloomberg points out, foreign manufacturers, especially Kia and Peugeot, stand to win big by this short-term easing of sanctions. But the impact of opening up the Iranian market to larger-scale sales cannot be underestimated - Peugeot, for example, sold 457,900 units to Iran in 2011 as spare parts kits alone. Opening the Iranian market could also have a huge impact on the cost of oil, as the country was one of the largest producers in the OPEC consortium before firmer sanctions took effect in 2012. Still, as David Cohen, US undersecretary for terrorism and financial intelligence said, it's "not open season now for business in Iran."
Bloomberg has an excellent report of all the near-term effects an easing of sanctions has across a number of industries. Hop over and give it a look.

U.S. appeals court preserves $210M Hyundai-Kia fuel economy class settlement

A U.S. appeals court restored a $210 million nationwide class-action settlement for hundreds of thousands of owners of Hyundai Motor Co and Kia Motors Corp vehicles whose fuel economy estimates were inflated. By an 8-3 vote on Thursday, in a case closely watched by class-action lawyers, the 9th U.S. Circuit Court of Appeals in Pasadena, California, said vehicle owners had enough in common to let them settle as a group. It also rejected arguments by owners opposed to the settlement that the claims process was too burdensome, and that lawyers for the class had colluded with the automakers to extract a "sweetheart deal" that undervalued their claims. The case began after the U.S. Environmental Protection Agency found flaws in Hyundai's and Kia's testing procedures, prompting the automakers to lower fuel efficiency estimates for about 900,000 vehicles from the 2011, 2012 and 2013 model years. Lawyers for objecting drivers had no immediate comment. Hyundai said it was grateful for the decision. Kia and its lawyers did not immediately respond to requests for comment. The decision by Circuit Judge Jacqueline Nguyen upheld a settlement approved in June 2015 by U.S. District Judge George Wu in Los Angeles. Wu "made careful findings, which the objectors here largely do not challenge, and which more than support the judgment," Nguyen wrote. The decision reversed a divided three-judge 9th Circuit panel's January 2018 rejection of the settlement and decertification of the class action. That panel said Wu failed to assess whether differences in state laws prevented certification of a nationwide class. It also said used car owners should have been excluded because it was unclear whether they had relied on the South Korean automakers' fuel economy claims. Lawyers had said it would become much harder to obtain nationwide settlements if the panel ruling stood. Nguyen had dissented from the panel ruling. Circuit Judge Sandra Ikuta, who wrote it, dissented on Thursday. Ikuta accused the majority of failing to determine what law should apply to the nationwide class or how the settlement, and thus attorneys' fees, should be valued. "The majority's failure to correct these errors may be beneficial for the class action bar, but it detracts from compliance with Supreme Court precedent," Ikuta wrote. The 9th Circuit covers nine western U.S. states, Guam and the Northern Mariana Islands.

2021 Kia Seltos rolls style and value into a subcompact package

When Kia unveiled the Seltos, a pocket-sized crossover aimed at young buyers, it didn't reveal whether we'd see the model in the United States. The wait is over, and the American-spec variant of the soft-roader made its debut next to the updated Kia Niro at the 2019 Los Angeles Auto Show. Named after Celtos, the son of Hercules, the Seltos falls in line with Kia's recent design language without aping styling cues from a bigger model. Flanked by swept-back headlights, the upright grille flows into a hood that's surprisingly tall and long considering the car's relatively small dimensions. The Seltos was developed with urban use in mind, but it can tackle light off-roading thanks in part to an angled front bumper that increases its approach angle, and 7.2 inches of ground clearance. Kia explained it paid special attention to the materials the passengers see and touch, and it made the cabin as spacious as possible. It promised an abundance of cargo space, though it didn't provide specific figures, and noted every trim level comes with reclining rear seats. Buyers have a pair of four-cylinder engines to choose from. The entry-level unit is a naturally-aspirated, 2.0-liter that delivers 146 horsepower and 132 pound-feet of torque. Front-wheel drive and a continuously variable transmission (CVT) come standard, and all-wheel drive is available at an extra cost. Motorists seeking more power can move up the trim level hierarchy to unlock a 1.6-liter turbocharged to 175 horsepower and 195 pound-feet of torque. It's also offered with front- or all-wheel drive, but it channels its power to the driven wheels via a seven-speed dual-clutch automatic. While Hercules' lineage allegedly includes several Spartans, the Seltos is anything but. It comes with Android Auto and Apple CarPlay compatibility, and it's the first Kia offered with an optional, eight-speaker surround-sound system sourced from Bosch. Fully loaded, it features a blind spot monitoring system with a collision avoidance function, forward collision monitoring with avoidance assist, highway driving assist, adaptive cruise control, rear occupant alert, plus lane-keeping and lane-following technologies that help it stay in its lane, among other electronic driving aids.  Scheduled to go on sale during the first quarter of 2020, the Seltos will slot between the Soul and the Sportage in Kia's growing range of soft-roaders.