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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

The Kia Niro gets a plug-in model at Geneva

The Geneva Motor Show is usually a supercar event, but that didn't stop Kia from showing off the Niro hybrid. A new battery and some minor styling tweaks distinguish this Niro from the current model. The important part here is in the back of the little crossover. The standard Niro's 1.56-kilowatt-hour battery is replaced with a much higher capacity 8.9-kWh battery. When we test drove the standard Niro, Kia's representatives told us this battery should propel the Niro PHEV about 25 miles on a charge. For the European release, the range is listed as 55 km, which converts to 34 miles. However, this is likely a quirk of European fuel economy testing, which often yields higher numbers than American testing. Regardless, the Niro will have an electric range in the same ballpark as the Prius Prime plug-in hybrid. The new battery, besides offering more range, is also physically larger. It's placed under the cargo floor and rear seat, and the larger size means the cargo area shrinks by a little over 3.5 cubic feet. However, Kia says that the rest of the interior is unaffected. And an unusual note, Kia will offer a towing package that will allow the Niro PHEV to pull a trailer with brakes weighing up to roughly 2,900 pounds, although it's unclear if this is a European-only option. The Niro PHEV has a few minor styling tweaks as well. The chrome trim on the front and rear bumpers now has slim light-blue lines along the edges. The black rub strip along the doors on the normal model is now a metallic finish on the plug-in. The headlights are changed, too. Square-shaped projectors take the place of the round units on the standard model. The Niro plug-in will go on sale in Europe in the third quarter of 2017. We were told by Kia representatives on the standard car's press drive that it would arrive here by the end of the year. Related Video:

2015 Kia Soul EV Prototype

Spend a few days chatting with the good people of Seoul about their neighbors to the north, and you'll find a pattern emerges. When they first start talking, South Korea's citizenry speaks openly and ardently about seeking reunification with their North Korean brothers and sisters. Yet once you get beyond casual conversation, you'll find that those hopes and wishes aren't all that they first appear to be. Quite reasonably - and despite everyone's best intentions - there's genuine fear that opening the border with communist North Korea would severely tax South Korea's finances, infrastructure and daily lives. It's almost as if reunification feels like something the general public has to say they want, even if they're really not buying into the reality.
It's kind of like the way American consumers and the media have been crying out for electric and hybrid automobiles, yet when it comes time to vote with their pocketbooks, their hearts just aren't in it. There are potential financial and infrastructure concerns, along with lingering worries about how well EVs will integrate into their daily lives. Today, hybrids and plug-ins make up about three percent of new vehicle sales, and the vast majority of those models are gas-electric models - one in particular. Pure electrics aren't yet even a drop in a very large bucket. It's exactly this uncomfortable dichotomy that rings in our heads as we drive through the traffic in Namyang at the wheel of a 2015 Kia Soul EV prototype.
Of course, one can't blame Kia for developing an electric car - it has California's zero-emissions mandates to meet, regardless of whether the segment's sales suggest there's a sound financial strategy attached. Kia officials we spoke with at this early drive of the company's electrified 'box' car seemed to tacitly acknowledge the Soul EV's difficult business case, but pointed to the company's effort to reduce its CO2 output as part of its reason for being. And besides, their beancounters' industry-wide projection for global EV sales in 2018 is 600,000 units, so there's got to be room to grow, right?