We Finance We Ship Awd Navigation Leather Sunroof Heated And Cooled Seats on 2040-cars

Auto blog

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Kia confirms Cub "four-door coupe" concept for Seoul

Kia has announced it is headed to the Seoul Motor Show with a new sedan concept. Details are still scarce, but the Kia CUB Concept should be small, at under 13 feet long and come with coupe-like proportions. Kia wants the vehicle to "appeal to trend-setting urban dwellers," a notoriously car-hungry market. The automaker says the Cub has a cheerful face decorated with two-point LED headlamps just like those found on the Quoris flagship, but the teaser image above looks a bit more sinister than happy to us. Kia plans to give the Cub a proper unveiling on March 28.
Hyundai has also given us a glimpse at what the company has planned for Seoul with its HND-9 luxury sports coupe. You can refresh yourself on that machine by checking out the post here. You can also take a closer look at the brief press release below.

Kia to show widebody custom Stinger at SEMA

Kia will take to the SEMA Show later this month with a modified version of its Stinger fastback sedan that it developed with West Coast Customs. This tuned version gets a number of high-performance enhancements, including a widened body, lowered front and rear suspension, gloss black front grille, carbon fiber aero kit, 21-inch forged wheels, widebody fender flares, rear diffuser and squared-off exhaust tips. The Stinger is a fastback sedan and the brand's first GT offering, inspired by the grand touring cars of the '60s and '70s, designed in Frankfurt and developed on the Nurburgring circuit. When it goes on sale in December, it'll come in a choice of two engines: a base 2.0-liter turbocharged four pushing out 255 horsepower and 260 pound-feet of torque, and a GT version with a 3.3-liter twin-turbo V6 generating 365 hp and 376 lb-ft that's also found in the Genesis G90. It also comes in rear- and all-wheel-drive configurations, with standard Nappa leather interior and plenty of passenger and cargo space. You can read our First Drive impressions of the GT version here. Kia also promises upgrades to the tuned Stinger's cockpit. It'll be unveiled Oct. 31 alongside two other custom Kia vehicles, with more news to come in the days ahead.Related Video: Featured Gallery Kia Stinger GT Widebody by West Coast Customs: SEMA 2017 View 9 Photos Image Credit: Copyright 2017 Drew Phillips / Autoblog.com SEMA Show Kia Sedan kia stinger gt west coast customs