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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.

Recharge Wrap-up: Hyundai/Kia fined $755M for exaggerated MPG ratings; BMW dealers want more i8s

The fine against Hyundai and Kia has grown to $755 million for overstating fuel economy ratings. $360 million of that fine comes from the EPA for violation of the Clean Air Act: $100 million is a civil penalty, $210 million is a forfeiture of greenhouse gas credits and another $50 million will pay for independent fuel economy audits on future models. The remaining $395 million is a settlement for customers who purchased the affected vehicles. A slew of 2011 to 2013 models were found to have fuel economy ratings overstated by one to six miles per gallon. Customers will be awarded funds to offset the unexpected fuel costs or to put toward a new Hyundai or Kia vehicle. Read more at Hybrid Cars. BMW dealers are awaiting details on new dealership standards - and BMW i8 models for their showroom floors. According to BMW National Dealer Forum Chairman Steve Late, BMW dealers are anxiously waiting to see what sort of updates they'll need to do to get in line with BMW's Future Retail 2016 program. As for the new EVs, Late says that the BMW i3 sales were slow to start, but that once people learned more about it, "wham, bam, it is taking off." The i8 shortage is a bigger problem: "I was allocated three for 2014, and I have a waiting list of 47 people. This year, maybe I will get eight or 10, and I still won't be able to fulfill them." Still, Late says he won't sell the cars at an upcharge. Read more at Automotive News. Opel is reportedly planning an electric version of its Karl hatchback. According to German automotive magazine Autobild, Opel will begin selling the diminutive Karl EV by the end of 2018. The electric car will offer a driving range of about 93 miles. The gasoline-powered version is expected to begin deliveries this June. Read more at Automotive News Europe. PSA Peugeot Citroen says it will keep its Hybrid Air program alive as it looks for a cost-sharing partner. Hybrid Air technology uses a compressed air hybrid system to improve fuel economy as we saw in the Peugeot 208 Hybrid Air concept. A French newspaper reported that Hybrid Air won't make it to commercialization, and that the program's team of engineers has been reduced. A PSA spokesperson confirms the change to the program, saying, "We are now waiting for another partner to help us begin the production stage." Read more at Automotive News Europe. Related Video:

2018 Kia Niro Plug-in Hybrid revealed, boasts 26 miles of electric range

The 2018 Kia Niro Plug-in Hybrid was introduced Thursday at the 2017 Los Angeles Auto Show, adding a considerably larger battery pack to the existing Niro Hybrid crossover. With an estimated 26 miles of all-electric range, the Niro Plug-in is in the same ballpark as most other plug-in hybrid models like the Toyota Prius Prime (25 miles), Hyundai Ioniq Plug-in (29 miles) and Kia's own Optima Plug-in (29 miles). The Chevrolet Volt is the king of the castle at 53 miles. When the all-electric range is exhausted, it'll get 48 mpg city, 44 mpg highway and 46 mpg combined. That's actually a bit worse than the regular Niro (51 city/46 highway/49 combined), though that difference isn't as great it might seem given actual gas burned and the all-electric range. The estimated mile-per-gallon-equivalent rating is 105 MPGe. That's actually about the same as the Volt (106) and Optima (103), but less than the Prius Prime (133) and Ioniq (119). This is all achieved by the addition of a 8.9-kWh lithium-polymer battery pack and a 60-horsepower (44.5-kw) electric motor. This compares to the regular Niro Hybrid's 1.56-kWh battery pack and 43-hp motor. Despite its greater capacity, the battery doesn't take up any extra interior space, still fitting under the back seat and cargo area. It can be recharged in approximately 2.5 hours using a 240V charger, or in less than 9 hours using a regular household 120V outlet. Besides the powertrain, the Niro Plug-in is essentially the same beyond a few minor styling updates. There is a slightly different "grille" insert and some blue trim accents. It can also be equipped with LED headlamps. Related Video: