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☆ Cities Sue Hyundai, Kia After Wave of Car Thefts
▼ + stars: | 2023-04-13 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

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☆ Cars are selling below sticker price for the first time in years — and it's a sign car buying is finally getting better
▼ + stars: | 2023-04-13 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

March was the first time in months car buyers didn't shell out more than a vehicle was listed for. For comparison, just a year earlier, consumers were paying on average nearly $1,000 more than the sticker price for a new car. Exceptions include Honda and Kia vehicles, which continue to sell for between 3 and 6% over sticker price in the non-luxury market. In addition to the newfound difference in sticker price versus the price actually paid, new car prices have been trending downward overall for months now. March's average price paid is down from February's $48,558, January's $49,388, and December's $49,507.

☆ Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030
▼ + stars: | 2023-04-11 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

SEOUL, April 11 (Reuters) - Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea's electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand. The investment plan by the group, which includes Hyundai Motor Co (005380.KS), Kia Corp (000270.KS) and Hyundai Mobis Co Ltd (012330.KS), came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia's first designated electric vehicle plant. It added that the government would expand tax benefits for domestic EV facility investment for a five-fold boost in production capacity by 2030. The South Korean auto group said last year it would invest more than $10 billion in the United States by 2025 to enhance collaboration with U.S. firms in advanced technology. Shares of Kia and Hyundai Motor closed up 4.9% and 3.3%, respectively, on Tuesday versus a rise of 1.4% in the benchmark KOSPI (.KS11) index.

☆ I used Turo to scale my business by renting out 6 'bread-and-butter' vehicles. Last year I made $72,000 and I earn money even when I'm not physically working.
▼ + stars: | 2023-04-11 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

After getting laid off, Lavell Riddle started driving for Uber and Lyft to pay his bills. In 2021, he rented out five vehicles on the car-sharing app Turo to make additional income. Last year, Riddle earned $72,020 in income from renting out six cars on Turo, which Insider verified with documentation. One of my friends had just bought a personal vehicle and another vehicle to throw on Turo. People actually needed these vehicles, especially when there were no rental vehicles in my market and car prices were so expensive.

☆ Some cars, including the Toyota Corolla and Ford Bronco, are worth up to $8,000 more used than if they were new
▼ + stars: | 2023-04-11 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

But there are 14 used cars that cost more than their new versions, per a new iSeeCars analysis. A lightly used Toyota Sienna or Kia Carnival could cost thousands more than they do new. ToyotaToyota Corolla HybridUsed price: $27,809Difference used over new: $2,038Toyota SiennaUsed price: $50,978Difference used over new: $1,806The 2022 Toyota RAV4 Prime XSE. Tim Levin/InsiderToyota RAV4 PrimeUsed price: $51,298Difference used over new: $1,726Toyota Corolla CrossUsed price: $30,636Difference used over new: $853The Kia Carnival. HondaHonda Accord HybridUsed price: $34,704Difference used over new: $152Chevrolet CorvetteUsed price: $84,827Difference used over new: $324Kia RioUsed price: $20,135Difference used over new: $27Honda AccordUsed price: $30,404Difference used over new: $16

☆ Car dealers reveal the 9 questions you should always ask before buying
▼ + stars: | 2023-04-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ These are the best cars for families of every size
▼ + stars: | 2023-04-08 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

US News & World Report released its ranking of the best cars for families in 2023. US News & World Report on Tuesday issued its annual ranking of the best new cars for families. Best 2-Row SUV: Hyundai Santa FeThe Hyundai Santa Fe. HyundaiBest Hybrid Car: Toyota Camry HybridThe Toyota Camry Hybrid. Tim Levin/InsiderBest Hybrid SUV: Toyota Highlander HybridThe 2023 Toyota Highlander.

☆ Kia unveiled a futuristic family SUV with swiveling seats and loads of cargo space — see the EV9
▼ + stars: | 2023-04-06 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

Like Kia's smaller (and impressive) EV6 SUV, it features flush door handles that pop out when needed. The 2024 Kia EV9. KiaRead more: The 9 best cars for families

☆ Kia's new EV9 is a 7-passenger electric SUV coming to the U.S. late this year
▼ + stars: | 2023-04-05 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

NEW YORK — Korean automaker Kia on Wednesday unveiled the U.S. version of its upcoming EV9, a three-row electric SUV that will serve as the brand's flagship model when it launches late this year. It's the second Kia EV to be based on the E-GMP modular EV platform developed with Kia's corporate sibling Hyundai. Kia is expected to add a third EV, a small crossover called EV5, to its U.S. lineup next year. The company expects to sell 258,000 EVs worldwide this year, he said. Kia will announce U.S. pricing for the EV9 later this year.

☆ I drove Toyota's first real Tesla rival, the $52,000 bZ4X, and found one glaring flaw. Take a tour of the electric SUV.
▼ + stars: | 2023-04-05 | by ( Tim Levin | ) www.businessinsider.com time to read: 1 min

So how does the bZ4X drive? It's pretty quick, as EVs tend to be, which comes in handy when you want to quickly pass a semi or a merge with limited runway. The 2023 Toyota bZ4X AWD Limited. Tim Levin/InsiderRead more: I charged a Kia at a Tesla Supercharger and saw how Elon Musk can make EV charging suck less for everybody

☆ GM overtakes Ford as second best-seller of EVs in U.S. but still trails Tesla by a wide margin
▼ + stars: | 2023-04-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors pulled ahead of Ford Motor to become the country's second best-seller of all-electric vehicles during the first quarter, trailing only industry leader Tesla . 2 last year, reported EV sales Tuesday of 10,866 over the same time frame. GM still significantly trails Tesla in EV sales. Motor Intelligence estimates Tesla, which does not report sales by region, sold 161,630 EVs in the U.S. during the first quarter. Both GM and Ford have said they plan to overtake Tesla in EV sales in the years ahead, however Elon Musk's company is targeting significant expansion of its own EV production.

☆ Most adults make this simple money mistake, and it’s hurting their financial well-being
▼ + stars: | 2023-04-03 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

These days, most Americans are stressed about money. And yet, when it comes to budgeting, saving and managing debt, many get some simple fundamentals wrong. Not only can carrying a balance lower your credit score, but sky-high annual percentage rates also make credit cards one of the most expensive ways to borrow money. More often, Americans are unsure, especially when pervasive money myths get in the way of good credit habits. While there is an important role for schools to play, a financial education should begin at home.

☆ These are the best electric and hybrid cars of 2023 for every type of buyer, from luxury sedans to family SUVs
▼ + stars: | 2023-03-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +1 min

U.S. News & World Report released a list of best electric and hybrid cars Wednesday. U.S. News evaluated 107 vehicles based on rankings, starting price, charging rate, and more. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyU.S. News & World Report released its list of best electric and hybrid cars Wednesday. The Lexus ES Hybrid, Kia EV6, Hyundai Tucson Plug-In Hybrid, Toyota Prius, and Lucid Air each secured the second consecutive win in their award categories. Best Electric Truck was a new category this year.

☆ Hyundai and Kia thefts trend reached New York City
▼ + stars: | 2023-03-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Spikes in car thefts of certain Hyundai and Kia models, a trend that began in the American midwest and was spread by how-to videos on social media, has reached America’s biggest city. About 100 of these particularly vulnerable Hyundai and Kia vehicles were stolen in the month of December alone in New York City, according to New York City Police Commissioner Keechant Sewell. Joy rides on Tik TokThese models became the subject of a viral social media trend in which thieves filmed themselves and others stealing Hyundai and Kia vehicles and taking them for a drive. The New York thefts first began to be noticed in The Bronx, the commissioner said, but soon were also happening in other parts of the city. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia, and various Hyundai and Kia models share much of their engineering.

☆ Americans love to buy more car than they need. It's making electric cars more expensive.
▼ + stars: | 2023-03-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Americans love SUVs and trucks, and they're going to have to pay for them in the near term. A lot of prospective EV buyers just haven't yet found the types of EVs they're looking for. They don't necessarily need more luxury electric sedans — they want the trucks and SUVs they're used to. A recent study found most car-buyers don't want to spend more than $50,000 to go EV, but they also want electric trucks and SUVs that inherently cost more. Bigger vehicles are often just more expensive, largely because they require bigger batteries — the most expensive part of these new EVs.

☆ Tesla rival Lucid plans layoffs, as manufacturing and production challenges mount for EV startups
▼ + stars: | 2023-03-29 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Lucid, a Tesla rival, is planning layoffs. The EV startup is planning to lay off hundreds of employees, my colleague Alexa St. John reported. Lucid has had a challenging few months, as it works to nail down manufacturing and production and get cars on the roads. It's not the only EV company that's struggling. Insider's Tim Levin tested out charging a KIA EV at a former Tesla supercharger that's open to all EVs.

☆ I drove the $40,000 Kia Niro EV and found it's a solid electric SUV for people who want something more traditional than a Tesla
▼ + stars: | 2023-03-29 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I tested the 2023 Kia Niro EV, a $39,550 electric SUV. The 2023 Kia Niro EV is none of those things. The 2023 Kia Niro EV. The 2023 Kia Niro EV. The 2023 Kia Niro EV.

The bill, introduced in the U.S. House of Representatives, follows a similar Democrat-led effort proposed this month in the Senate. The Department of Labor has also taken steps to increase enforcement of child labor violations and called on Congress to boost penalties. The Labor Department has seen a nearly 70% increase in child labor violations since 2018, including in hazardous occupations, with 835 companies found to have violated child labor laws in the last fiscal year. Under current federal law, the maximum civil monetary penalty for a child labor violation is $15,138 per child. In February, 33 Democratic lawmakers led by Michigan Congressman Dan Kildee signed a letter to the Labor Secretary urging immediate action to rid Hyundai's supply chain of child labor.

[1/3] The Gateway Arch is seen across from snow covered banks of the Mississippi River during cold weather in St Louis, Missouri, U.S. February 11, 2021. "Big corporations like Kia and Hyundai must be held accountable for endangering our residents and putting profit over people,” said St. Louis Mayor Tishaura Jones. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. Since May 2022, St. Louis police received more than 4,500 reports of thefts of Kia or Hyundai vehicles. Sixty-one percent of vehicles stolen in St. Louis have been Kias and Hyundais, St. Louis said.

☆ Kia just unveiled its Telluride-sized EV
▼ + stars: | 2023-03-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —The big Kia Telluride SUV, with three roomy rows of seats, has been a major hit for the South Korean car brand. So, for those ready to switch to electric vehicles, KIa just unveiled its all-electric big SUV. The Kia EV9, like the Telluride, has lots of seats and they can also do some neat tricks. More powerful versions will also be available, including an all-wheel-drive version with two motors capable of a combined 282 kilowatts, or 378 horsepower. Kia’s two current electric models, the much smaller Kia Niro EV and EV6, start at about $41,000 and $50,000, respectively.

☆ I charged a Kia at a Tesla Supercharger and saw how Elon Musk can make EV charging suck less for everybody
▼ + stars: | 2023-03-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I tested out the experience in a Kia Niro EV that Kia lent me. Charging a non-Tesla at a Tesla charging station was notably smooth and convenient. The Kia Niro EV charges at a Tesla Supercharger in Brewster, NY. The Kia Niro EV charges at a Tesla Supercharger in Brewster, NY. The Kia Niro EV charges at an EVgo charging station.

☆ 4 reasons to buy Kia's super-quick $63,000 electric SUV and 3 ways it falls short
▼ + stars: | 2023-03-26 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

I drove Kia's high-performance electric SUV: the 2023 EV6 GT. Pro: Impeccable styleThe 2023 Kia EV6 GT. Con: Stiff rideThe 2023 Kia EV6 GT. Tim Levin/InsiderThe EV6's saving grace is it offers some of the quickest charging on the electric-car market. Tim Levin/InsiderThe EV6 GT comes loaded with impressive features that make driving it feel safe and convenient.

☆ Hyundai, Kia warn 570,000 U.S. owners to park outside until recalls completed
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - Hyundai (005380.KS) and Kia (000270.KS) are recalling just over 570,000 U.S. vehicles over fire risks and urged owners to park outside and away until getting repairs. The automakers said some vehicles with a tow hitch harness could catch fire due to a short circuit. The models covered are 2022-2023 model year Hyundai Santa Cruz, 2019-2023 Santa Fe, 2021-2023 Santa Fe Hybrid, 2022-2023 Santa Fe Plug-in Hybrid, and 2022-2023 Kia Carnival. Hyundai and Kia dealers will install new fuse and wire extension kits to address the issue. Hyundai said as an interim repair, dealers will inspect the tow hitch module and remove the fuse as necessary.

☆ U.S. states urge Hyundai, Kia to do more to tackle theft risk
▼ + stars: | 2023-03-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

In Chicago there were over 7,000 thefts of Hyundai and Kia vehicles in 2022 accounting for 10% of Kia and 7% of Hyundai vehicles registered in the city, the letter said. Ellison said in Minneapolis in 2022 Kia and Hyundai vehicle thefts were tied to five homicides and 265 motor vehicle accidents. The free upgrade will be offered for 3.8 million Hyundai and 4.5 million Kia vehicles, the automakers and NHTSA said. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. All Hyundai vehicles produced since November 2021 are equipped with an engine immobilizer as standard equipment.

☆ More than 20 U.S. states urge Korean automakers to do more to address theft-prone vehicles
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Hyundai booth displays the company logo at the North American International Auto Show in Detroit, Michigan, U.S. January 16, 2018. REUTERS/Jonathan ErnstWASHINGTON, March 20 (Reuters) - More than 20 U.S. state attorneys general on Monday urged Hyundai Motor (005380.KS) and Kia Corp (000270.KS) to do more to address millions of U.S. vehicles that are prone to theft. Last month, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles to help curb increasing car thefts using a method popularized on TikTok and other social media channels. The states said the automakers had failed to take adequate steps to address the alarming rate of theft and urged them to accelerate the implementation of the software upgrade and provide free alternative protective measures for owners whose cars cannot support the software upgrade. Reporting by David Shepardson Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

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