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Argentina’s exports for imports saga continues, with South Korean carmaker Hyundai agreeing to export peanuts, wine, biodiesel and soy flour to offset the US$91 million (€64 million) it added to Argentina’s growing trade deficit in 2010. Partner company / subsidiary Kia has agreed export white goods and plastics for their contribution.The South American nation’s US$6 billion (€4.19 billion) trade deficit has already led to one Porsche distributor agreeing to export wine and olive products, while similar deals have been struck with carmakers Chery, GM, Peugeot-Citroen, Alfa Romeo, Mercedes-Benz, Volkswagen, Fiat and Ford.Soaring consumer demand for foreign goods, which is up some 38% year-to-date for the January to April period, has resulted in these highly protectionist policies with the Argentine government flat out refusing imports from parties that don’t agree. An undisclosed source in the motor industry told the Financial Times:“In December, they told us and all the other car importers to reduce imports by 20 per cent compared with 2010. [When they want to enforce things] they simply give a call to customs and say, from now on, don’t let any vehicles come in.”Hyundai is expected to earn a surplus of US$55 million (€38 million) in 2012, thanks to the US$157 million (€110 million) deal it’s made with Argentina’s federal government in Buenos Aires.Advertisements
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Kia is ready to talk pricing on its first ever hybrid vehicle in the States, the all-new Optima Hybrid, which we first saw at last year’s Los Angeles Auto Show. A sister model to Hyundai’s Sonata Hybrid, with which is shares the same gasoline-electric powertrain, the Optima Hybrid will reach U.S. showrooms in June with a starting price of $26,500, not including a $750 destination and handling fee that lifts the cost to $27,250. By comparison, the hybrid version of the Sonata starts at $25,795, excluding destination charges.The Optima’s parallel hybrid powetrain makes use of a modified 2.4-liter Theta II engine without direct-injection that runs on the Atkinson cycle and delivers 166HP and 151 lb-ft of peak torque. The four-cylinder gasoline unit is linked to a 6-speed automatic transmission and an electric motor capable of delivering 40.2 horsepower (30 kW) and 151.2 pound-feet of torque when electric only. When in hybrid mode, the combined output of the two motors comes to 206.2 horsepower and 195.4 pound-feet of torque. A set of lithium polymer batteries from LG Chem completes the hybrid package.Kia claims the Optima Hybrid can deliver up to 35 miles per gallon in city driving and 40 miles per gallon on the highway.Standard features include 16-inch alloy wheels, eight-way power adjustable driver's seat, dual zone automatic temperature control with rear vents, push-button start with smart key and the company's UVO powered by Microsoft hands-free, voice-activated infotainment and communications system.For an additional $5,000, customers can opt for the Hybrid Premium Technology Package, that ups the luxury ante with several comfort and convenience features. These include a panoramic sunroof, 17-inch alloys, four-way power adjustable front passenger's seat, driver's seat memory, heated and cooled front seats, heated rear seats and steering wheel, HID headlamps with automatic leveling, leatherette-wrapped center fascia, auto-dimming rear-view mirror, a navigation system with back-up camera and SIRIUS Traffic, and an upgraded eight-speaker Infinity audio system.GALLERY
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Kia’s brand-new Rio small sedan was joined by the hatchback version of the sub compact model named Rio5 at this week’s New York Auto Show. Unlike the four-sedan that received its world premiere in the Big Apple, we got our first taste of the Rio5 at the Geneva Salon in March. The only visible styling changes over the European model, concern the colored turn signals up front and the market-specific trim options inside.
The 2012 Rio5 is available with a 1.6-liter GDI four-cylinder engine with the option of either a six-speed manual transmission or six-speed automatic. The direct-injection four-pot delivers 138 horsepower, and thanks to the addition of Kia’s ISG start-stop technology, it returns 30 mpg in the city and 40 mpg on the highway.
Kia’s newcomer will be offered with a choice of three trim levels, LX, EX and SX. The base LX includes 15-inch steel wheels with 185/65R15 tires, driver's seat height adjuster, Electronic Stability Control (ESC), a four-wheel Anti-lock Brake System (ABS), Hill-start Assist Control (HAC) and Vehicle Stability Management (VSM), which coordinates the car's ESC and ABS.
Moving up to the EX gets you standard power windows with automatic up/down on the driver's window, Bluetooth wireless technology connectivity with steering wheel-mounted voice activation controls, 60/40 split folding rear seats and leatherette door trim and power door locks with keyless entry.
Finally, the range topping SX trim adds 17-inch wheels with 205/45R17 tires, fog lamps, LED daytime running and rear combinations lamps, dual chrome tip exhaust, outside heated mirrors with turn signal indicators, leather-wrapped steering wheel and shift knob, maplight with sunglasses holder, illuminated vanity mirrors, trip computer, cruise control, UVO powered by Microsoft in-car hands-free communication and entertainment system with rear camera display, and chrome-coated accents throughout.
Pricing and availability in the States will be announced at a later date.
GALLERY
An undisguised example of the new Kia Cadenza sedan has been spotted by a carsandtec reader rolling around in California for the second time since the beginning of the year. This one was caught by Sanjay Patel. "Saw this Kia Cadenza with Michigan plates going 55 North in Orange County, California," The sleek looking sedan which is already on sale in South Korea as the K-7, is longer and wider than the Amanti it will replace. It is expected to be revealed this year in U.S.-spec with sales to follow before the end of 2011. In its home market, the K7/Cadenza is offered with three gasoline engines ranging in output from 165HP for the four-cylinder unit to 295HP for the 3.5 liter V6. Read more In
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