2014 Kia Rio Lx Sedan 4-door 1.6l on 2040-cars

Auto blog

How automakers stand to benefit from Iran

The big global news of late is a deal that sees a number of major powers easing some sanctions on Iran in return for the Middle Eastern nation scaling back its nuclear program. This thawing of relations between Iran and the West could have far-reaching impacts in both the near and long term, particularly on the auto industry.
As Bloomberg points out, foreign manufacturers, especially Kia and Peugeot, stand to win big by this short-term easing of sanctions. But the impact of opening up the Iranian market to larger-scale sales cannot be underestimated - Peugeot, for example, sold 457,900 units to Iran in 2011 as spare parts kits alone. Opening the Iranian market could also have a huge impact on the cost of oil, as the country was one of the largest producers in the OPEC consortium before firmer sanctions took effect in 2012. Still, as David Cohen, US undersecretary for terrorism and financial intelligence said, it's "not open season now for business in Iran."
Bloomberg has an excellent report of all the near-term effects an easing of sanctions has across a number of industries. Hop over and give it a look.

2014 Kia Optima Hybrid shows its freshened face

Think back to the 2013 New York Auto Show, and you'll recall that the already attractive Kia Optima midsize sedan was re-schnozzed for the 2014 model year. The hybrid version was left alone, visually, though its powertrain was updated to provide more oomph and slightly better fuel economy. And now, the whole thing comes full circle - the fresh-faced 2014 Optima Hybrid is making its debut here at the Chicago Auto Show.
The new look is really the only news here, with a reworked front fascia that combines restyled Hybrid-specific LED lighting elements and new enhancements that Kia says improves aerodynamics. A similar touch-up has been given to the rear end, and new 16- and 17-inch wheel designs are also available.
Under the hood, the Optima Hybrid's powertrain is unchanged, the four-cylinder gasoline-electric system still putting out a combined 199 horsepower and 235 pound-feet of torque. Fuel economy is also unchanged for 2014, with the LX model estimated to achieve 36/40/38 miles per gallon (city/highway/combined), and the higher-grade EX estimated to net 35/39/37 mpg.

Genesis' decision to build the Electrified GV70 in America is a sign of things to come

As Steely Dan famously sang, they call Alabama the Crimson Tide. Here in Montgomery, we’re knee-deep in a Green Tide thatÂ’s transforming the business of building and selling cars. The high-style Genesis Electrified GV70 emerging from Hyundai Motor Manufacturing Alabama (HMMA) is the first Genesis built outside South Korea. ItÂ’s only the second made-in-America EV from a foreign-based automaker, after the Volkswagen ID.4 whose Tennessee production kicked off in July.  Get ready for many more. Spurred by the Inflation Reduction Act — whose final interpretations and outcomes remain in Washingtonian flux — automakers foreign and domestic are scrambling to onshore EV-and-battery production to boost American jobs and security, as a condition to securing lucrative tax incentives for manufacturers and consumers. Beginning in 2024, qualifying for EV credits may even require sourcing a hefty percentage of minerals and other battery materials from America or approved trade partners, a list that conspicuously does not include China or Russia. As things stand, that sticking point could make a vast number of 2024 EVs ineligible for purchase credits; though leasing a vehicle may still earn dealers a $7,500 commercial credit that they could pass along to consumers, as most currently do for EV lessees.  The electric version of GenesisÂ’ most-popular SUV is the avatar of Hyundai MotorÂ’s $10 billion American EV investment, which is expected to foster up to 8,000 good-paying jobs. Even thatÂ’s a fraction of what Atlas Public Policy estimates to be $128 billion in industry-wide investment in AmericaÂ’s EV, battery and recycling capacity through 2030 alone. HyundaiÂ’s planned onshore footprint includes a new battery factory northwest of Atlanta, and a $5.5 billion EV factory near Savannah that aims to produce Hyundai, Kia and Genesis EVs beginning in 2025. Beginning that year, Genesis says every new model introduced will be an EV, with no fossil-fuel option. And Genesis plans to phase out gasoline-powered models entirely by 2030, a similar timeline to luxury brands including Volvo and Cadillac. In Alabama, where Hyundai also builds the Elantra, Sonata, Santa Fe and Santa Cruz, an Electrified GV70 is hoisted onto a lift for the final stop on its 16-hour assembly journey.