Ssangyong is the fourth largest Korean automaker and has recently broken into the European market, first with the Musso SUV and lately with the much more attractive Rexton. Now it's $75 million in debt.

“Due to lack of operating funds for December, it is impossible for the company to pay salaries any longer,” the company announced to workers on Friday. Domestic Ssangyong sales have fallen by more than a third in 2008, forcing it to close 60 dealers.

Shanghai Automotive Industry Corporation (SAIC), which acquired 51% in 2004, has refused Ssangyong’s requests for emergency funds. The Korean company now plans to hold a protest rally against SAIC. Koreans vs. Chinese? What is this — 1950 all over again? [via Autocar]

Although there's no solid word on whether or not the Spectra replacement will keep the name "Forte", considering the Spectra name doesn't have much of what we'd call "brand identity," it's not as though it would hurt sales. We've also not yet heard word on whether new engines will be offered. What we do know is that the Forte is set to debut in Korea at the end of August, meaning that we'll probably know everything about it by the beginning of July, or whenever the always-excitable Korean press corps get their hands on it. [KIA WORLD]

This new Genesis that's bigger, longer and more uncut by 8" will replace the Equus JS 380 that's currently the car of choice for Hyundai execs. While the Equus is one big mutha-four-door, this new Genesis XL (or whatever) will out-lengthen the ol' and busted exec-mobile by an extra 2". And as we all know, size does matter — and apparently the U.S. market just isn't big enough to warrant those extra 8" of lengthened platform RWD executive hauling power. We'll live. In the meantime, we'll have more over the next four hours after we get a chance to snag dinner with Hyundai's Vice Chairman & CEO D.J. Kim. We hear he spins the records right-round. Also yes, after this post, we're assuming Hyundai probably won't be inviting me back.

Though we've brought you photos of the Godzilla crashing earlier today, we don't see this as an alarming increase in Asian car accidents but rather a welcome increase in people sharing pics of wrecked exotics. And by "exotic" we mean, you know, stuff we don't see here yet. [Zeanon via CarScoop]

Hyundai officials told members of the media to expect the cheapest version of the Genesis will cost just under $30,000 and top out at just under $40,000 and that Lexus is the target they're gunning for. Although we're assuming this Genesis will be the Asia-spec version of the up-market sedan for the Korean and Chinese markets, with the North American one to be introduced in January, we've got no evidence either way to tell us that this isn't the same vehicle, flair and all, that we'll be seeing next month in Detroit.

"The foreign companies against whom the Big Three compete are selling more and more cars that are not made at their factories in the United States, making labor costs here less important. They are importing again — in fact, quietly importing almost as many cars as they did in the 1980's when Japanese vehicles flooded the market, provoking an outcry, and also import quotas."

Press Release:

GM Daewoo Launches G2X Roadster

Classic rear-wheel-drive roadster unique among domestic manufacturers

Seoul, Korea - GM Daewoo Auto & Technology (GM Daewoo) announced today that its sporty roadster, the G2X priced at 43.9 million won will go on sale on September 1. With the G2X, which was one of the highlights of this year's Seoul Motor Show, GM Daewoo will open up a new chapter in the domestic automotive industry.

"The launch of the G2X is a great example of how GM Daewoo as a member of the General Motors family, is leveraging GM's global resources," said GM Daewoo President and CEO Michael A. Grimaldi. "The G2X offers head-turning style and driving performance at a price well below a comparable import roadster. The result is an exciting model that no other Korean manufacturer has in its showroom."

Sophisticated, Sleek and Dynamic Design

The modern definition of a classic roadster finds its form in the G2X. It brings with it a lot of personality thanks to its exciting shape, which contrasts sharp edges with curved surfaces to create a dynamic look. A wide stance, sleek body, long front-hinged hood and short overhangs express a dynamic silhouette.

Its bold hood character line and bumper with edge design deliver a strong sports car image. Projection beam halogen headlamps and fog lamps not only increase visibility at night, but also emphasize the roadster's dynamic front-end styling.

The body, which narrows in the middle, boasts the essence of aerodynamics. Air-bent, five-spoke 18-inch alloy wheels and a sweepback that keeps air from blowing into the vehicle while driving all accentuate the roadster's sporty image.

Jewel-like chrome-coated rear lamps, LED rear brake lamps, a rear bumper designed with aluminum tips, a backup light in the middle of the rear bumper and integrated twin mufflers further accentuate the sporty design.

The "piano black" interior with chrome finishes features a premium-leather steering wheel with audio and trip computer controls, a sporty dashboard with an advanced trip computer that allows the driver to easily and accurately capture vehicle information, and a 225-watt MP3/CD audio system with a large sub-woofer, seven speakers and a six-CD changer. Chrome ring buttons on the heating and cooling system add yet another sporty touch to the interior.

Highly refined leather sports bucket seats hold the driver and passenger snug even under extreme driving conditions, making driving safer and more enjoyable.

High-Performance Engine with Gasoline Direct Injection

The G2X is powered by a state-of-the-art two-liter engine with a turbocharger and high-tech Gasoline Direct Injection. The engine boasts segment-leading maximum power of 264 hp and maximum torque of 36 kg.m. Its 132 hp per liter of displacement (a typical attribute of sports car engines) is also best in class, which puts the GM Daewoo roadster well ahead of its competitors, including far more expensive imports.

Maximum power and torque are attained between 2,500 and 5,000 rpm, ensuring optimum driving performance in any and all driving conditions. Its outstanding power propels the G2X from standstill to 100 km/h in just 5.5 seconds (with manual transmission, overseas) and up to a maximum speed of 227 km/h. Its fuel economy of 9.8 km per liter is remarkable for a performance vehicle.

The G2X's 1,998-cc four-cylinder ECOTEC engine is equipped with cutting-edge features such as a twin-scroll turbocharger with an intercooler, double overhead camshafts, which are both adjustable via an electro-hydraulic rotary disk for variable valve timing, and twin counter-rotating balance shafts. Direct injection optimizes the compression ratio to 9.2:1, minimizing turbo lag. As major components are all made of lightweight aluminum, the engine maximizes heat efficiency and durability.

A five-speed automatic transmission with limited slip differential effectively delivers strong propulsion power to the rear wheels, while a torque beam between the transmission and rear axle suppresses reactions to acceleration/deceleration effects.

Precise Handling and Optimized Safety

Produced with hydro-forming technology, which uses high water pressure, the chassis of the G2X provides outstanding stability. Providing additional stability are a wide tread (front/rear: 1,543/1,561 mm), a long wheelbase (2,415 mm), a low center of gravity and a balanced 51:49 weight distribution between front and rear.

All four wheels are suspended from twin A-arms made from forged aluminum. Paired with Bilstein mono-tube shock and pipe stabilizers, the G2X chassis allows for sharp handling and accurate steering.

Its large disc brakes, ABS and level-adjustable Electronic Stability Program work in harmony to ensure a stable yet dynamic sports car driving performance. Two-stage air bags automatically sense the weight and posture of occupants, offering tailored degrees of deployment force.
Comfort & Convenience Features and Special Service Programs

The new model features plenty of convenience and comfort features such as an immobilizer, stainless steel pedals, and an interior rearview mirror that absorbs light from following vehicles and prevents glare during nighttime driving. The lightweight soft-top roof can be opened and closed easily. Seatback pockets, extra pockets on the console and doors, and three cup holders in the center console and doors make everyday driving even more convenient.

For true sports car enthusiasts and better convenience, GM Daewoo will offer special accessories for the G2X including a rear spoiler, 18-inch cast chrome wheels, a rear wind screen and tonneau cover.

GM Daewoo will operate dedicated G2X Service Corners at its 29 designated service centers nationwide in addition to a G2X customer call center, a specialized customer consultation service where G2X customer service representatives will respond to customer queries, and a first-of-its-kind service reservation system. GM Daewoo also is launching a G2X premium aftersales program that offers free maintenance, free towing and free replacement car service throughout the warranty period.

"The G2X rear wheel drive roadster has a near-perfect front to rear weight distribution ensuring performance that will live up to the meaning of its name 'Go 2 eXtreme'," said Rick LaBelle, GM Daewoo Vice President of Commercial Operations. "Combined with its premium aftersales program, the G2X ownership will be one of a kind."

The first 100 G2X buyers will be invited to participate in the two-day Sports Driving School. GM Daewoo Racing Team professionals will teach safe driving skills and offer useful driving tips, which will help owners fully enjoy the performance of the classic rear-wheel-drive roadster.

The G2X will retail for KRW 43,900,000.

GM Daewoo Auto & Technology was established in 2002. It has five manufacturing facilities in Korea as well as an assembly facility in Vietnam. In addition, GM Daewoo provides market and brand-specific vehicle kits for assembly at GM facilities in China, Thailand, India, Colombia and Venezuela. In 2006, GM Daewoo sold in Korea and exported more than 1.52 million units, including CKD products. GM Daewoo now produces vehicles and kits for Chevrolet, Buick, Opel, Vauxhall, Pontiac, Holden and Suzuki that are offered in more than 150 markets on six continents. Imported GM products from the Cadillac and Saab premium brands are sold in Korea through GM AutoWorld retailers. More information on GM Daewoo and its operations can be found on the company's website at www.gmdaewoo.co.kr.

Press Release:

KIA cee'd THREE-DOOR REVEALED

Kia Motors Corporation has released the first preview image of its exciting new Kia three-door hatchback model which will make its World Premiere at this year's Frankfurt International Motor Show on 11 September. The new model will be named Pro-cee'd.

Based closely on the earlier 'pro_cee'd' concept shown at the Paris Motor Show in 2006, the new production model has been developed by Kia's design team in Europe under the direction of Chief Design Officer, Peter Schreyer.

"Longer, lower and lighter than its five-door sister car, the new Kia Pro-cee'd is going to be a great drive," enthused Mr Jean-Charles Lievens, Senior Vice President Kia Motors Europe. "Combining real style and genuine practicality, our new three-door cee'd is sure to delight existing Kia customers and attract a new group of European consumers who have not yet considered our brand."

Manufactured in Slovakia, Pro-cee'd will be the third member of the Kia cee'd family, joining the popular cee'd five-door and the soon to be released cee'd SW models to make Kia an especially strong challenger for C-segment sales in Europe.

Production of the Pro-cee'd model range is scheduled to begin in November with first customer sales during the early months of 2008.

Why you should buy this car:

Because you're not quite ready for a minivan, but need room for five to seven people and associated stuff in an economical and more wagon like than crossover package. Because you like the name, or have a Rondo thirst.

Why you should not buy this car:

Because you're looking to run track days in a small space wagon. Because you cannot live without blinding acceleration and off the scale handling. Because you believe you need a land yacht of some kind to move more than one person about.

Suitability Parameters:
· Speed Merchants: No
· Fashion Victims: No
· Treehuggers: Yes
· Mack Daddies: No
· Tuner Crowd: No
· Hairdressers: Yes
· Penny Pinchers: Yes
· Euro Snobs: No
· Working Stiffs: Yes
· Technogeeks: Yes
· Poseurs: No
· Soccer Moms: Yes
· Nascar Dads: No
· Golfing Grandparents: Yes

Also Consider:

· Mazda 5

Vitals:
· Manufacturer: Kia
· Model tested: EX
· Model year: 2007
· Base Price: 16,395
· Price as Tested: 22,495 MSRP
· Engine type: 2.7L 24 Valve DOHC V6
· Horsepower: 182@6000 RPM
· Torque: 182@4000 RPM
· Redline: 7000
· Transmission: 5-Speed Automatic
· Curb Weight: 3511 Pounds (Seven Seat)
· LxWxH: 179 X 71.7 X 67.7 inches
· Wheelbase: 106.3
· Tires: P225/50R17 Michelin Energy MXV4 Plus
· Drive type: Front Wheel Drive
· 0 - 60 mph: 8.5 seconds
· 1/4-mile: 16.910
· Fuel economy city/highway: 20/27
· NHTSA crash test rating: 5/5/5/4/4

Related:
Kia Rondo Korean BBQ Tour, Part 1; Part 2 [Internal]

Exterior Design: ***

Not quite as large as a minivan yet bigger than a station wagon or tall hatchpact, the Rondo appears down the lines as a shrunken space wagon. The only angle we found somewhat odd was a direct side view. Fancy headlamps and wheels add style to economy.

Interior Design: ****

Space surrounds you in Rondo. Pawing around the better than average interior materials revealed more mystery compartments and fuzzy cubby holes than the Winchester Mystery House. Rear seat adjustment tracks and optional third row seating for kidlets makes Rondo a flexible and comfy people mover. Kia new car smell is oddly similar to that experienced sliding on a new KBC motorcycle helmet.

Acceleration: ***

The engine was somewhat slacking in early punch torque expected from a V-6. The power is there, but not so aggressive that the steering wheel puts up a fight. Smooth delivery got things going where they needed to and without drama. Passing gear power came on like a lamb yet went out more lion like.

Braking ***

While a slightly vague pedal feeling didn't help stop a distant quality in the brake feedback department, the brakes got the job done. Slowing Rondo down from high speeds down off ramps or quick stops in random city driving was uneventful. 4-wheel disc brakes with ABS and traction control comes as standard issue.

Ride ***

The Rondo fared well for a mini space wagon with suspension was obviously geared towards multiple human comfort over taut steering response. Over chuckhole filled city streets or at highway speed the ride was what you would expect from such a vehicle.

Handling ***

Rondo handled emergency maneuvers around random events with refreshing predictability. A tight turning radius made parking lot navigation and parallel parking turnarounds an easy task. Traction control kicks in if you push too hard, and causes an odd wha'happen sensation.

Gearbox ***

The five-speed Rondo gearbox shifted automatically without excess hunting or random searching. The key feature of this slushbox is the 10-Year 100K warranty. Worry not about shifting gears in Rondo!

Audio/Video ***

The Rondo EX tester was equipped with an optional Infinity AM/FM/CDC six-speaker system. This a huge leap forward from a Kia we drove last year that featured a cassette player! We were honestly too busy chowing down to fully test the system at peak levels, but it sounded fine on FM setting. Aux input jack for iPods and Cowon Mp3 players is coming for 2008.

Value *****

Price is a key consideration, as Rondo is currently the value leader in the small in North America seven passenger mini-space wagon class. Even fully equipped the Rondo hovers around the 20K range. Multi-person vehicular function and a certain amount of fun can be had on the cheap. Nearest competitor features a sliding door, but no V-6.

Toys *

We got the feeling Rondo is better equipped to carry toys than have too many built-in. Included multiple compartments and trap doors would be perfect for storing toys. Damping control on grab handles and glovebox door was a nice touch. We're not quite sure if the fuzzy lining inside the sunglasses holder qualifies as a toy or not.

Trunk ***

This Rondo had the optional third row split seating which folds flat for hatchback-type trunk action. Beyond the third row the rear seats also fold down giving Rondo 31.7 cubic feet with third row and 35 without. The third row looked entertaining, but we couldn't get anyone to actually sit back there. Roof rack features an adjustable track system.

Overall ***

We had a good time driving Rondo about, and so did everyone that rode around with us. Decent power and respectable mileage add up to functional mini-space wagon satisfaction at a reasonable price. – Mike Bumbeck

Related:
Kia Rondo Korean BBQ Tour, Part 1; Part 3 [Internal]

Soot Bull Jeep
Our first stop brought us down into Koreatown. On board was our own Jonny Lieberman and neighbor Zak Hawthorne. We put Zak into the rear seat by virtue of his over six-foot tall stature. It was Zak that figured out the split rear seats not only were worthy of a space wagon, but also had their own adjustment tracks like the front seats. Bonus, Rondo! The Rondo handled the mean streets of downtown Los Angeles with no surprises, even during quasi-emergency maneuvers avoiding drivers performing random left and right darts. Once we actually found the legendary Soot Bull Jeep we waited merely a few minutes before being seated and ordering a full compliment of beefs, shrimps, and eels. Soot Bull Jeep features genuine wood charcoal smoking action underneath the in table grille, which imparts a lasting and tasty flavor into the meats. This same smoke also fills the restaurant. The various sides were an exploration into fantastic. We also learned that the razed lot across was once the Ambassador Hotel where Robert Kennedy was shot, and that the plate of leaf lettuce is supposed to be used to wrap around the tasty BBQ like a tortilla.

Soot Bull Jeep ****
3136 W 8th St
Los Angeles, CA 90005
Phone: 213.387.3865

YooSung Garden
Evening two involved a longer distance Rondo highway test and dual county navigation. First stop was out to Ventura County to collect Analog Assassins club president Billy Bautista. We then took the Ventura highway away from the sunshine, and thundered Rondo into the San Fernando Valley to scoop up one Dan Kahn. Finding a BBQ establishment was more improvisational time around. After driving around for a few minutes we lucked out in a mini-mall featuring not one but two joints. Billy remembered the mini-mall as where he used to come drift cars around the parking lot. His bud Herbert met us there. We chose the shinier looking place and lucked out after we sat down. 18 bucks each for all-u-can-eat BBQ and choice of two sushi rolls! You didn't have to ask us twice. Meats were limited to less exotic critters, as we would have otherwise shrimped the place out of evening profit. So endless was the supply that we experienced fiery grille problems. Our Rondo thirst for Soju was also endless, but fortunately we had a designated driver. In the end Billy B slapped his belly, proclaiming it was the best 18 bucks he had ever spent. Rondo transported everyone back home satisfied and without issue.

YooSung Garden ****
17623 Sherman Way
Van Nuys, CA 91406
818.758.9545

Young Dong Garden
The Rondo BBQ tour ended with a daylight stop in Arcadia, California on our way back from the drag races. Before the third and final BBQ stop the Rondo went clear from Montrose to Fontucky and back, even experiencing some carpool lane action. After a day of California Speedway baking sun, nitromethane fumes, and good old tire smoke we were ready for some more savory BBQ goodness. There was no grille in the table at Young Dong, and unfortunately the food was not as impressive as the oddball Polynesian Swiss Chalet architecture of the former steakhouse. To be fair, it was hard to top the smoky goodness of Soot Bull Jeep, or the endless platter supply at YooSung Garden. Young Dong was more dish-based than family style, and the Bimbimbop and Spicy Chicken were tasty and plentiful. The various side dishes and kim chees were not as well thought out. By the end of the week Rondo had been to three restaurants, a drag race, three counties, and slaked our Rondo thirst.

Young Dong Garden ***
19 West Huntington Drive
Arcadia, CA 91007
626.698.6198

– Mike Bumbeck

Related:
Kia Rondo Korean BBQ Tour, Part 2; Part 3 [Internal]