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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.

Kia to launch four-door coupe next year

Kia has been toying for some time with the idea of building a sporty four-door model. But according to the latest reports from Seoul, the Korean automaker intends to stop showboating and finally put one into production. And it could come as early as next year. Reuters reports that the project known internally as CK will join Kia's lineup as its second rear-drive model, alongside the larger K900. Power would reportedly come in from engines displacing 2.0, 2.2, and 3.0 liters. The target would apparently be the BMW 4 Series Gran Coupe, but with a sportier, more youthful edge. That's something which Kia has been keen to capitalize on since the success of the Soul. It took similarly unconventional approaches with the new Sportage and the recent Telluride concept, but has not managed as of yet to transfer that youthful, unorthodox vibe to the lower-slung side of its lineup. With parent company Hyundai having recently launched the Genesis premium sub-brand, the sporty, young image could be left for Kia to pursue. Only time will tell if Toyota's abandonment of its Scion brand will leave room for Kia to swoop in, or if it'll be a dead end. Reuters anticipates the new Kia to launch in May 2017, with a targeted annual production of 60,000 vehicles worldwide. Expect some elements to carry over from recent four-door coupe concepts like the Novo (pictured) from last year and the GT concept of 2011. Reports have been circulating since then that the latter would reach production. Related Video:

These cars are headed to the Great Crusher In The Sky

It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.