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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

Hyundai, Kia, Genesis and Subaru clean up in IIHS 2018 safety ratings

Hyundai, its partner Kia and its Genesis division are the big winners in the latest vehicle safety ratings from the Insurance Institute for Highway Safety, accounting for six of the 15 models that earned the Top Safety Pick+ awards for 2018. Subaru was right behind with four, Mercedes-Benz had two, and Toyota, BMW and Ford each had one. Another 47 vehicles earned the Top Safety Pick designation, where Toyota had 10 vehicle models, with Hyundai recognized for nine models. All but one of the seven vehicles in Subaru's lineup, the BRZ, qualified for one of the awards. IIHS strengthened the criteria for the Top Safety Pick+ award for 2018 to require headlights to earn a "good" rating — an "acceptable" rating was previously enough to notch the "plus" award — and good or acceptable passenger-side protection in the small overlap front crash, which replicates a crash involving just the front corner of a vehicle. It also required vehicles to have acceptable or good headlights for the first time to earn a Top Safety Pick award. Most of winners for both awards qualified on the basis of optional upgrades. IIHS in October began evaluating the passenger side of vehicles in its small overlap front crash test after it said it became clear that automakers were neglecting that side of the vehicle as they focused on improving driver-side protections. IIHS first began conducting driver-side small overlap crashes in 2012. It began measuring both how well low and high beams illuminated the road and the amount of glare they produce for oncoming vehicles as part of its ratings in 2016. The Top Safety Pick+ winners are listed below. The list doesn't include any minivans, pickups or minicars, which don't appear on either list of awardees. Small cars Kia Forte Kia Soul Subaru Impreza (sedan and wagon) Subaru WRX Midsize cars Subaru Legacy Subaru Outback Toyota Camry Large luxury cars BMW 5 series Genesis G80 Genesis G90 Lincoln Continental Mercedes-Benz E-Class sedan Midsize SUVs Hyundai Santa Fe Hyundai Santa Fe Sport Midsize luxury SUV Mercedes-Benz GLC The full list of Top Safety Pick winners is available here.Related Video: Image Credit: IIHS BMW Genesis Hyundai Kia Lincoln Subaru Toyota Safety Crossover SUV Wagon Sedan crash test

2015 Kia Soul EV production model glimpsed before Chicago

A few days before its on-stage reveal at the Chicago Auto Show, the production version of the 2015 Kia Soul EV has been spotted, tagged and bagged in this series of spy shots. On the EV captured by our photographer's lens, we can see unusual baby blue accents on top, on the mirrors and up front, as well as a closed-off "Tiger Nose" that is both taller and larger than the grille on the standard Soul. The special "Eco Electric" badge on the sides is useful for identifying the car in the picture, but we can't imagine it'll make the transition to showroom floor (at least, we hope). The Soul EV's rear side is different, too, with the bottom lights moved lower and the design of the main taillights tweaked a bit (compare our spy shots gallery to the standard model here). The wheels get a fresh five-spoke design as well. What lies under the new exterior? Some things we already know. The Soul is supposed to have a "class-leading" range of over 120 miles on a charge thanks to a 27-kilowatt-hour lithium-ion polymer battery pack. The electric motor offers 109 horsepower and 210 pound-feet of torque to create a 0-62 mile per hour time of under 12 seconds and a top speed of around 90 mph. What we can't see in these shots is a window sticker, but from what we've heard before, the Soul EV, "won't be priced to stimulate demand." Early predictions put the price at $35,000-$40,000 US – before government incentives – when the car launches in the US in the second half of this year. The gas-powered Soul starts at $14,400. We should learn more in Chicago later this week.