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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

Kia Sportspace Concept is a big, red wagon that previews the future

The Kia Sportspace Concept might preview some design elements for the next-gen Optima, but for now the Korean brand is keeping the focus on this somewhat sporty looking wagon on display at the Geneva Motor Show. Its shape is designed specifically to appeal to European tastes, and the styling comes from the company's design studio Frankfurt, Germany. Despite the European design ethos, there's no mistaking the Sportspace as anything but a Kia. Up front, it features a sharper version of the brand's familiar tiger-nose grille that runs horizontally to link the LED headlights. However, the major visual focus for the concept is the long roof and angled rear hatch. The designers even pitch the D-pillar forward for a slightly more sporty style. The interior almost appears to come from a completely different model. The combination of black upholstery with carbon fiber trim and large pieces of anodized aluminum makes it look like a very dark place for a drive. Kia is apparently trying to appeal to the Sportspace's Swiss audience, though. The company touts that there's enough room to store a set of skis by fitting them between the rear seats. Power for the Sportspace comes from a 2.0-liter turbocharged four-cylinder with 247 horsepower that spins the front wheels, but the automaker doesn't specify anything about the transmission that it all routes through. Looking at the current Optima, it isn't hard to see the future design evolving this way. Get a preview from this big, red wagon on the show floor of the Geneva show in our gallery, above. DESIGN OVERVIEW: THE KIA SPORTSPACE CONCEPT The working week is over. The late afternoon sun is glinting on the ice crystals in the road-side snowbanks and turning the snow-capped peaks ahead pink. The road snakes ahead towards a weekend of fun and action. The journey demands a swift, efficient and refined machine to allow the maximum pleasure to be extracted from the time available. This is exactly the role for which the Kia SPORTSPACE was conceived. Its muscular proportions are ready to deliver a safe, secure but speedy passage to the slopes. Its cosseting and refined interior provides convivial yet individual space for its four passengers. Its sleek and elegant lines – both inside and out – are functional but stylish, allowing its travelling partners both comfort and convenience within a bodyshape that stands out from the crowd. This is a concept that has extracting the maximum from life at its heart.

Autoblog's Editors' Picks: Our complete list of the best new vehicles

It's not easy to earn an “EditorsÂ’ Picks” at Autoblog as part of the rating and review process that every new vehicle goes through. Our editors have been at it a long time, which means weÂ’ve driven and reviewed virtually every new car you can go buy on the dealer lot. There are disagreements, of course, and all vehicles have their strengths and weaknesses, but this list features what we think are the best new vehicles chosen by Autoblog editors. We started this formal review process back in 2018, so there's quite of few of them now. So what does it mean to be an EditorsÂ’ Pick? In short, it means itÂ’s a car that we can highly recommend purchasing. There may be one, multiple, or even zero vehicles in any given segment that we give the green light to. What really matters is that itÂ’s a vehicle that weÂ’d tell a friend or family member to go buy if theyÂ’re considering it, because itÂ’s a very good car. The best way to use this list is is with the navigation links below. Click on a segment, and you'll quickly arrive at the top rated pickup truck or SUV, for example. Use the back button to return to these links and search in another segment, like sedans. If youÂ’ve been keeping up with our monthly series of the latest vehicles to earn EditorsÂ’ Pick status, youÂ’re likely going to be familiar with this list already. If not, welcome to the complete list that weÂ’ll be keeping updated as vehicles enter (and others perhaps exit) the good graces of our editorial team. We rate a new car — giving it a numerical score out of 10 — every time thereÂ’s a significant refresh or if it happens to be an all-new model. Any given vehicle may be impressive on a first drive, but we wait until itÂ’s in the hands of our editors to put it through the same type of testing as every other vehicle that rolls through our test fleet before giving it the EditorsÂ’ Pick badge. This ensures consistency and allows more voices to be heard on each individual model. And just so you donÂ’t think weÂ’ve skipped trims or variants of a model, we hand out the EditorsÂ’ Pick based on the overarching model to keep things consistent. So, when you read that the 3 Series is an EditorsÂ’ Pick, yes, that includes the 330i to the M3 and all the variants in between. If thereÂ’s a particular version of that car we vehemently disagree with, we make sure to call that out.