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Hyundai, union reach tentative labor deal

According to Reuters, South Korea's labor unions may have reached a tentative deal with Hyundai following a compromise between the two sides on wages. Workers have staged a number of stoppages since August 20, which have cost the South Korean giant 1.02 trillion won - around $1.1B US. It also represents just over 50,000 units of production. That vehicle total sounds like a lot, but it's a small enough figure that Hyundai can apparently catch up with weekend and overtime shifts. We'd wager that this is why US inventories haven't been hit quite so hard aside from the battering already taking place. The proposal will now go before the union's rank and file.
If ratified, the new agreement will see workers getting a 5.14-percent raise in base salaries, along with 8.5-million-won (roughly $7,800) bonuses. Those concessions are a far cry compared to what the union was initially demanding, though. Early proposals included a 56.25-gram gold medal for each employee (worth about $2,400) and a 10-million won bonus (about $9,100) for employees whose children chose not to attend college. The union also sought a bonus worth two months' salary for workers that have been with the company for over 40 years, but this was negotiated down to a flat rate of six-million won ($5,464).
Based on Reuters' report, the work stoppages must have taken a real toll on Hyundai - its domestic sales dropped 20 percent last month, while exports were down nine percent. Those startling figures must have put some fire under the Hyundai bargaining team.

Average new-car fuel economy figures continue record pace

Manufacturers are making more efficient cars and trucks; we've known that to be true for some time. Nearly every new car has some sort of trick to eke a few extra miles out of every gallon of fuel. Whether that be turbocharging, active aerodynamics or hybrid technology/electrified powertrains, the fact is that our vehicles are more efficient than ever before.
Thanks to a recent study by TrueCar, we've got fresh quantitative data to support the above statements. For the fourth month in a row, we've seen an improvement in national fleet fuel economy. We Americans are 0.7 miles per gallon more efficient than we were last month, and our cars are 1.6-mpg better than at this time last year. That said, we're still down on 2013's high, which was set back in January at 24.5 mpg.
Not only does this reflect the improved technologies in our vehicles, but it demonstrates a changing mindset among consumers, who are purchasing more efficient vehicles despite the relative stabilization of fuel prices. Every fuel-efficient model sold drives its manufacturers fleet average up.

Hyundai swims against the current with new i20 Coupe

Coupefying hatchbacks is all the rage in the European market these days. Its what Opel and Vauxhall did with the latest Astra, and what Renault did with the Mégane, and now Hyundai is preparing to follow a similar formula, only in a smaller form.
While the i30 is the model with which Hyundai competes with the aforementioned Astra and Mégane, to say nothing of the Volkswagen Golf and Ford Focus, it's the smaller i20 - recently introduced in five-door form - which the Korean automaker plans to give the coupe treatment.
Previewed in the teaser image above, the upcoming new i20 Coupe will enter a somewhat shrinking market for three-door superminis. Though the VW Polo, Ford Fiesta, Peugeot 208 and Opel Corsa are still available with three portals, their forms are otherwise no more coupe-like than their five-door counterparts. (Mini has tried a similar approach with its Coupe, and Citroën has forked the C3 five-door and DS3 three-door, but those are decidedly more upscale offerings.) Alongside the Seat Ibiza, Hyundai is one of the few mainstream automakers offering three-door superminis significantly distinguished from its five-door versions.