Geneva Preshow: 2012 Kia Rio Revealed in Detail, gets 1.2-liter Turbo Gasoline Engine

Kia's product assault continues with the presentation of the all-new Rio subcompact, which will receive its world premiere together with the new Picanto at the forthcoming Geneva Motor Show in the beginning of March.

The latest car to be revealed by Kia boasts a far slicker exterior design than the current Rio bringing it in line with the rest of South Korean company's passenger model range. There are no photos of the interior, but Kia says its newcomer "will deliver a high level of quality previously associated with larger models" along with a wider selection of trim options.

The Korean firm's Ford Fiesta-sized vehicle features a wheelbase extended by 70 mm (to 2,570 mm) compared to the outgoing Rio thus promising to offer improved passenger space together with an increased cargo capacity to 292 liters for the hatchback body style. Exterior dimensions changes include: +55 mm (overall length), -15 mm (height) and +25 mm (overall width).

In Europe, the firm's B-Segment contender will be offered with a comprehensive range of petrol and diesel engines including a 1.1-liter diesel unit delivering 70-horsepower and CO2 emissions from as low as 85 g/km.

But the big surprise is the announcement of an all-new 1.2-liter Turbo Gasoline Direct Injection (GDI) that will be available from 2012, and which will offer the Koreans a significant advantage over its Japanese rivals.

Soon-Nam Lee, Director of Overseas Marketing for Kia, commented: “This new model is a big step forward. The Rio has always been successful, and with this new incarnation we have a car that people will want to buy for its looks.”

The new Rio will go on sale in Europe as a 5-door model this fall, with a 3-door to be introduced into the range in early 2012. Pricing and full range details will be announced nearer the on-sale date.

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VIDEO: Remote Control Cars Drifting on Realistic Looking Miniature Road is Pure Ecstasy

If you enjoyed Phil's video of the RC drifters from the recent Tokyo Auto Salo, then you're in for a really special treat with this 4 minute-long clip shot at the 2010 Korea RC Street Drift Challenge. By far this is the most amazing RC drift setup that we have ever seen. Just follow the jump and you'll see what we mean.

Kudos to Nick for the tip!

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Hyundai Sells 3.6 Million Vehicles in 2010, up 16.3% from 2009, Net Profits Soar 78%

Hyundai continues its juggernaut-like growth breaking one record after the other. In 2010, the South Korean carmaker not only replaced Toyota as Europe’s best-selling Asian brand and passed the 500,000 sales mark in the US for the first time since entering the market in 1986, but the company also posted record sales and impressive profits.

Not including affiliate Kia Motor's results, Hyundai alone recorded global sales of 3,612,487 units (domestic plants: 1,730,682, overseas plants: 1,881,805) in 2010, which represents a 16.3 percent increase from a year earlier.

Sales revenue rose 15.4 percent to 36.8 trillion won (US$ 33 billion) from a year earlier thanks to the introduction of new cars and an improved product mix, while operating profit also soared 44.4% to 3.2 trillion won (US$2.8 billion). Net profit increased 77.8 percent to 5.3 trillion won (US$4.8 billion).

South Korea's largest automaker has set even higher goals for 2011, stating that it plans to "reinforce its internal competitiveness" and achieve a global sales target of 3.9 million units.

2012 Kia Picanto: HD Photo Gallery and Official Brochure of South Korean Model

As pointed out by a Carscoop reader in a previous post, Kia has released images of the domestic market version of its Picanto city car, which will be sold as the Morning in South Korea. From the looks of it, there won't be any notable differences between the local and European market specification Picanto, which will receive its world premiere at the Geneva Salon in the beginning of March. You can read our previous post for more details including the powertrain options here. For the high resolution image gallery and the official brochure of the KDM Morning, follow the jump below.

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GM to Drop Daewoo Name and Replace it with Chevrolet in South Korea

What started a few years back with the re-branding of Daewoo's portfolio to Chevrolets in select markets including Europe, is now being rolled out globally with the replacement of the nameplate in South Korea. From now on, all of the company’s new product introductions will be under the Chevrolet badge, while GM Daewoo Auto & Technology will change its company name to GM Korea Co. The Detroit automaker said the name change is expected to be completed by the end of the first quarter this year.

"This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations," said Mike Arcamone, President and CEO of GM Daewoo. “We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea."

GM noted that three Daewoo models including the Alpheon (a re-badged Buick LaCrosse) sedan and the Labo and Damas mini cars, will not carry the Chevrolet nameplate and will be marketed under independent brands.

Outside the U.S., Chevrolet is planning an aggressive vehicle launch plan this year with the introduction of eight new models including the Camaro, Orlando MPV, Aveo sub-compact, plus an unnamed new SUV model and a new premium midsize sedan.

The Detroit automaker said that GM Daewoo has "played a lead role" in the design, engineering and manufacturing of the Chevrolet Cruze global compact sedan, the new Chevrolet Spark global mini-car, and the new Chevrolet Aveo global small car, adding that currently one out of every four Chevrolet vehicles is manufactured in Korea.

“Chevrolet has enjoyed success in mature markets in North America and Europe, as well as in emerging markets in Asia Pacific, CIS countries, and Latin America,” said Arcamone. “We are confident our customers in Korea will embrace Chevrolet as well.”