Navigation Backup Camera Heated & Cooled Leather Panoramic Moonroof Only 8k Mile on 2040-cars

Auto blog

Ex-Hyundai CEO Krafcik joins TrueCar board amidst IPO plans

Former Hyundai Motor America CEO John Krafcik has had a tumultuous year. Last June, he won the Automotive Executive of the Year from DNV Business Assurance. Then in December, he suddenly announced he was stepping down from his leadership role at the Korean automaker on January 1, with some suggesting it was because the company's sales growth was too far below forecasts. Now, it looks like the exec has landed a new role on the board of directors of online car shopping website TrueCar.
According to The Wall Street Journal, Krafcik's role will be to build relationships with automakers and dealers, but the job at TrueCar won't be full time. Since leaving Hyundai, Krafcik has also been doing consulting work in Silicon Valley. "It's helped me understand what I might want to do, full, full time. I am just taking things at the appropriate pace," he said to the Journal.
Krafcik, who is widely considered one of the industry's top executives, took the helm at Hyundai America in 2008 and led it to an increase in sales and market share. He was with the company when it won North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively.

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

2014 Hyundai Sonata gets host of improvements, starts at $21,350*

Hyundai has announced improvements for the 2014 Sonata, as well as a price increase of $450 for the base GLS model, which has a MSRP of $21,350. That doesn't include the *$795 destination fee, which was increased by $20 for 2014. The most expensive Sonata, the Limited Turbo, starts at $28,650, also not including destination.
The new features are numerous, but only a fraction of them come standard on all Sonata models. The new standard features shared by the GLS, SE, SE 2.0T and Limited models include a refined grille design (which isn't too different from the 2013 model, if we're honest), HID headlights, LED taillights, a slightly revised rear fascia, Driver Selectable Steering Mode (DSSM), Vehicle Stability Management (VSM) and a tire-specific tire pressure monitoring system (TPMS). To improve noise, vibration and harshness (NVH), all Sonatas also get improved carpet, more foam in the A and B pillars and an additional dynamic damper.
Hyundai has added a rearview camera and blind spot mirror as standard equipment on SE and Limited Sonatas, and it's also offered on the GLS with the Popular Equipment Package. Blind spot detection also makes its debut on the Sonata, which is standard on Limited models and part of the Premium Package on SE models. The GLS isn't slated for a blind spot detection system.