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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.

Judge reduces damages in fatal Hyundai crash to $81M

Hyundai no longer has to pay $248 million as part of a court ruling from a fatal accident in Montana that killed two cousins in a 2005 Tiburon. The judge hearing the appeal revised the amount down to a total of about $81 million. She upheld the original $8.1 million in actual damages but reduced the punitive damages to $73 million from the previous $240 million.
According to Bloomberg, the judge refused Hyundai's desire to reduce the amount even further. She said in her court order that the company showed "an indifference to or reckless disregard of the health and safety of the motoring public."
In the original case, the families' attorneys alleged that the cracking of a faulty steering knuckle caused the fatal accident. Hyundai argued that fireworks had been let off inside the vehicle, which caused the driver to swerve and crash. In a statement released after the ruling, the automaker claimed that evidence supporting its defense was barred from the trial. According to Bloomberg, had the original amount of damages been upheld, it would have been the sixth-highest amount awarded by a jury in the US this year.

Hyundai, ARK Performance combine for SEMA-bound Legato Genesis Coupe

The latest body-kitted Hyundai Genesis Coupe scheduled to appear at the Specialty Equipment Market Association (SEMA) show in Las Vegas is the ARK Performance Legato Concept. In a nod to performance fiends, Hyundai built a stroker V6 good for 400 horsepower and 425 pound-feet of torque to really set the coupe off.
The extra power is a very good thing when one considers how fast the Legato Coupe looks. Speaking of the Italian musical term "legato," it translates to "tied together," and it was the theme ARK adhered to when it designed the car. In ARK's words, the the Legato conveys "the seamless integration of exotic design, tuned performance and luxury coupe interior ambience."
ARK's body kit includes front and rear bumpers, side skirts, deck lid and "wide-body cues." The 3.8-liter V6 was stroked to 4.0 liters courtesy of JE pistons, connecting rods and a billet steel crankshaft. ARK supplied an intake system and headers, and bolted on a lightweight pulley kit. An ARK oil cooler keeps the engine running at the right temperature. The tuning company also bolted on one of its dual-mass flywheels and carbon clutch kit to handle the extra power.