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Kia Stinger will be getting more power for 2021

The 2021 Kia Stinger will get more oomph when it arrives later this year, but a new report says the tweaks will come from modifications to its existing powertrain, not a new option atop the range. The report from Australian site CarSales, which cites anonymous sources close to the automaker, appears to throw cold water on rumors that the Stinger would get the 3.5-liter turbocharged V6 from the new Genesis G80 sedan, which delivers 380 horsepower and 391 pound-feet of torque. The report says that the G80's 304-hp 2.5-liter turbo-four will not be coming to Australia as a replacement for the Stinger’s base 255-hp 2.0-liter turbo-four, and we would doubt it would for the United States, either.  In its range-topping models, the Stinger's 3.3-liter twin-turbo V6 offers 365 hp and 376 lb-ft. CarSales reports that engine will be juiced for more power by tweaking its bimodal exhaust. Unspecified design and equipment changes are also reportedly due. Now in its third year on the market, the Stinger turned a lot of heads when it debuted in 2017 at the Detroit auto show, and a long-term test version of the 2018 Stinger GT impressed Autoblog editors. It has failed to catch fire with buyers, but a performance-oriented premium sedan/hatchback made by Kia was always going to be a sales success long shot.  During the first three months of 2020, Kia sold 2,560 Stingers in the United States, down nearly 21%. Sales in 2019, when there was no global pandemic to skew numbers, totaled 13,861, down 17.5%. Kia discontinued the Premium trim packages for 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.