2008 Kia Sportage Lx Sport Utility 4-door 2.0l on 2040-cars

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Why Kia doesn't need a premium brand

Hyundai's creation of the Genesis luxury brand means it and fellow Korean brand Kia have finally hit the mainstream in the U.S. – as far as products are concerned – after nearly three decades of trying. Which is about as long as it took Toyota and Nissan to roll out Lexus and Infiniti, respectively. It's history repeating itself. Genesis is supposed to be the way Hyundai's premium models get the respect they deserve, without carrying the baggage of a name associated with frugality. Hyundai has, in fact, built up a reputation over the last decade or so for cars that compete head-on with class leaders, rather than aim to be 90 percent as good for 75 percent of the price. And because Kia shares a number of components with Hyundai, its vehicles have also steadily become not only better mainstream vehicles, but have continued to aim higher than their price points. Does Kia need to follow now in its parent's steps with a prestige brand to market its most expensive models? I'm aware of the Kia K900, the company's deepest foray into luxury territory notably occupied by Lexus. Kia, however, has consistently been pushing this $60,000 full-size luxury sedan along with $0 down, low monthly payment lease deals. Turns out there really aren't many people looking for a full-size Kia luxury sedan. Or maybe they're just waiting to get it for $20,000 in a couple of years. Consider the K900 and Genesis when I convince you Kia already makes upscale cars to rival those with premium badges. They just don't happen to be its most expensive model. Shortly after Hyundai's announcement it would spin its luxury models off into the Genesis brand, I spent a few days with a 2016 Kia Sorento SXL. And I'm willing to call it a more convincing attempt to get people out of luxury cars than the K900. Driving the Sorento is not an emotional experience. You feel parental driving it, thinking you might've forgotten to pick your kids up until you remember you don't actually have kids. But after settling into the nicely stitched and perforated leather seats, you respect its comfort, quiet and amenities. The headliner is soft, the stitching on the dash top is convincingly real and everyone is impressed by the sharp graphics on the touchscreen and the slick powered shade that reveals an expansive glass roof. A Kia Sorento costing more than $46,000 sounds absurd until you wonder how much better an Acura MDX or Lexus RX350 is when those cost as much as $10,000 more.

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.

5 new EVs that make driving fun

One of the things enthusiasts bellyache about the most is electrification. The noisiest complainers say that EVs will suck the fun out of driving and can’t possibly be as engaging as a roaring gas engine. ItÂ’s undoubtedly true that the noises EVs make are not always as visceral and thrilling, but itÂ’s also true that electrification has ushered in a new era of performance that gas vehicles simply cannot match. WeÂ’ve gathered a list of EVs that donÂ’t suck to drive. We all know by now about Tesla and its Plaid models, which absolutely set the quarter-mile ablaze with their amazing acceleration figures. The vehicles on this list don't come from Tesla. Nor does the list include some highly anticipated performance EVs that will soon hit the market, such as the new 2024 Porsche Macan. This selection may be a bit short on range compared to tamer models, but at the same time, itÂ’s hard to ignore their specs and even harder to ignore the sensation that a full-throttle electric powertrain delivers. LetÂ’s dive in to see five new EVs that make driving fun. Porsche Taycan PorscheÂ’s gas-powered vehicles are among the most exciting on the road, so itÂ’s not surprising to see the automakerÂ’s first electric effort as a home run. The Taycan is available in a staggering number of configurations, ranging from the 375-horsepower base model to the massively powerful Turbo S models with up to 750 horsepower in temporary boost mode. Classic Porsche styling and high-end tech round out the package, making the Taycan one of the most desirable EVs today. That said, the TaycanÂ’s almost $91,000 starting price puts it out of reach for a majority of car buyers, and the prices keep steadily rising along with the performance. It also trades range for performance, as the least powerful variant is the most efficient, returning 242 miles with the extended-range battery. The car can take advantage of fast charging, however, and can recover up to 80 percent of its battery capacity in just over 22 minutes.   Kia EV6 GT How about a Kia that can out-accelerate many supercars, especially from a few years ago? The EV6 GT comes with two electric motors with a combined 576 horsepower and 545 pound-feet of torque. Its 0-60 mph time lands at just 3.4 seconds, and the EV offers a top speed of 161 mph, making it one serious Korean EV. At the same time, it features the standout styling of the standard model, which gives it a striking curb presence and a futuristic look that is unique among EVs.