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2016 Kia K900 introduces new 3.8-liter V6 base model

Kia has announced a series of updates to its K900 flagship sedan. Some of the enhancements applied to the 2016 model are more significant than others. The biggest news here is the arrival of a new V6 base model. Previously available Stateside only with the V8, the 2016 Kia K900 will now be offered with an all-new 3.8-liter V6 engine option, good for 311 horsepower. That base model still includes navigation, a leather interior, and a panoramic sunroof as standard equipment – just with a smaller engine to move it all. No changes were announced for the 5.0-liter V8, which is quoted at 420 hp. Revised pricing and realigned trim levels place the base Premium V6 model at $49,950, the Luxury V6 at $54,950, and the top-of-the-line Luxury V8 model at $62,850. This compared to $56,350 base MSRP that Kia charged for last year's eight-cylinder model. A $950 destination charge is included in all of those prices. Some stylistic changes have been made to the K900 as well, including new 18-inch wheels for the V6 model (19 for the V8), a new front grille, and updated rear-end styling that includes chrome trim, new exhaust pipes, taillights, and rear bumper. New equipment includes a hands-free trunk lid and optional autonomous braking system, along with a new 9.2-inch infotainment display and a system that can operate the ignition, door locks, and climate control from a remote smartphone app. The arrival of the new K900 (known as the K9 back in Korea) coincides with the emergence of a more substantially updated Cadenza (known domestically as the K7). Along with the refreshed Kia premium sedans, Hyundai is separating its luxury lineup into the new Genesis sub-brand. Between them, the Korean automaker aims to take a larger slice of the pie from the usual upscale suspects from Japan, Europe, and these United States. Will this entry-level model move the needle much further? Probably not, but we'll see. 2016 K900 OVERVIEWKia's Luxury Flagship Sedan Adds more Features, Technology and Style - 2016 K9001 receives all-new V6 powertrain - First-class interior and exterior enhancements continue to set K900 apart from segment IRVINE, Calif., November 23, 2015 – The K900 continues to challenge conventional notions of luxury as it did in 2015 when it earned the "International Car of the Year" award by Road and Travel Magazine and set a record-high score in its segment to earn AutoPacific's Vehicle Satisfaction Award (VSA).

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.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.