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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

Less stressful than a taxi: We ride in Hyundai's Autonomous Ioniq Electric

The day after California told Uber to halt the testing of its driverless cars, Hyundai gave us a brief ride in an autonomous Ioniq Electric. The trip was mostly uneventful — our driver/engineer didn't hit anyone, and, unlike Uber's, Hyundai's car didn't run any red lights. You may think that's faint praise, but at the speed of advancement we take nothing for granted. More than once during our ride around a pre-mapped, all-right-turn route in Las Vegas, the Ioniq had to sort things out for itself, and the longer you ride the more you realize the scope of data we humans process without noticing. This Ioniq was identified only by its Korea-spec origins — dual charging ports for fast and regular recharge and no side marker lights — and Nevada's autonomous vehicle license plate. Tourists were completely unaware that it was driving itself. The autonomous Ioniq uses one 140-degree and two 110-degree Ibeo LiDAR units in the front fascia, plus a camera array inside the cabin at the top of the windshield. A single camera is used for traffic-light detection, with stereo units for the driving assistants. According to Hyundai, the autonomous gear detects objects knee-high but also will not drive into a low-hanging tree branch. We're also told the system works in rain and snow, citing the all-conditions approval certificate from Nevada, though that center front sensor looks prime for snow packing in heavy stuff. Essentially, one processor collects all the input data and combines it to a singular view, and a second processor tells the car what to do about it. Hyundai notes that minimal system power consumption was a primary target. The cabin sports the prototype-standard large red kill switch, an extra display atop the center of the dash, and two real-time monitors hanging behind the rear seats. The dash display is there so human drivers know the car is aware of its surroundings — it shows traffic lights as red or green (yellow is not detected but it will not panic stop if it loses a green light), speed limit, vehicle speed, route, a steering wheel to denote autonomous operation, and pedestrians detected. One rear monitor shows what the traffic-light camera sees, the other what the LiDAR units are picking up, from road curbs to people, vehicles and buildings. The ride experience is drama-free if a bit on the cautious side. Braking is often moderate to heavy, more on/off than the modulation range of many human drivers, but we felt no panic braking or ABS intervention.

Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.