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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.

John Krafcik eyes Sonata, talks about his new role

As hundreds of people gathered to watch the unveiling of the 2015 Hyundai Sonata at the New York Auto Show on Wednesday, John Krafcik, a driving force behind the new vehicle, found himself in a peculiar position.
He stood far away from the car, away from the crowd. He watched from the Nissan stand as the covers were pulled off the Sonata.
If it was an awkward moment for Krafcik, whose tenure as Hyundai's chief executive officer ended on January 1, he didn't show it. He offered effusive praise of the Sonata. "It's a beautiful car," he said. "I think it's wonderful."

Hyundai recalls 58,000 Elantra Touring models over side-airbag concern

Hyundai is recalling 58,000 Elantra Touring wagons, after it was discovered that a metal support bracket in the headliner could become dislodged when the side-curtain airbag deploys. If this happens, occupants could suffer lacerations.
The affected models were built between December 15, 2009 and May 7, 2012 and cover model years 2010 to 2012. The problem itself was discovered in the follow-up into a 2013 recall of the Elantra Sedan, when a Touring model was found in a salvage yard with a detached headliner, despite using a different type of support than was recalled in the four-door model. No injuries have been associated with this recall.
According to the National Highway Traffic Safety Administration bulletin, the remedy for this recall is not unlike that used with the Elantra Sedan - adhesive strips will be applied to the headliner to prevent it from dislodging in the event of a crash.