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How Hyundai lost momentum, and will 'take a few years' to recover

SEOUL/DETROIT/CHONGQING, China — At a near-empty Hyundai Motor showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world's largest auto market. Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan dealership was selling about 400 vehicles a month, a store manager there said. "The sales are simply poor," Li told Reuters. "Look at the Nissan store next door, they have tens of customers while we just have two." An hour's drive away is Hyundai's massive $1 billion manufacturing plant, which opened last year with a target to produce 300,000 vehicles per year. But with sales weak and the Chinese auto market slowing sharply, the factory is running at roughly 30 percent of capacity, two people with knowledge of the matter said. The sources asked not to be identified because the information was not public. Hyundai, the world's fifth largest automaker, declined to comment on the Chongqing plant's production or the showroom's sales but said it is "closely cooperating" with local partner BAIC to turn around the China business. BAIC did not respond to requests for comment. Hyundai's woes mark a major reversal for the automaker which was an early success story in China as it quickly and cheaply rolled out popular new models into a surging market. In 2009, Hyundai and partner Kia's combined sales ranked third in China after General Motors and Volkswagen. The South Korean duo now ranks ninth, and its market share in China was 4 percent last year, from more than10 percent at the beginning of this decade. Executives and industry experts say Hyundai conceded its once stronghold in the low-end segment to fast-growing Chinese rivals such as Geely and BYD. Foreign rivals not only defended their turf in premium segments but also kept pricing competitive for mass-market models, squeezing Hyundai's positioning as an affordable foreign brand, they said. In the United States, the world's second-biggest auto market, Hyundai's market share fell to 4 percent last year, near a decade low. Hyundai ran into problems in China and the United States for similar reasons: It missed shifts in consumer tastes, especially the surge in demand for SUVs, and it sought higher prices than its brand image could command, four Chinese dealers and half a dozen former and current U.S.

2019 Hyundai Veloster Turbo Quick Spin Review | Now with actual 'velo'!

Hyundai finally seems to be figuring out driving dynamics. You know, suspensions that don't become flummoxed after hitting a mid-corner heave. Steering that does more than simply exist. A general driving experience that you may actually remember. Indeed, I'm going to remember the 2019 Hyundai Veloster Turbo, the latest Hyundai group car to demonstrate newfound dynamic talents. Fully redesigned, it picks up its predecessor's funky mantle, bringing over its unique three-door count and unusual hatchback rear, but actually satisfies the "velo" bit of its name. The old car was a dud, this one is not. Well, at least in Turbo guise, as no amount of chassis improvements can make the base 147-horsepower version go anywhere with immediacy. The Turbo packs Hyundai's 1.6-liter four-cylinder with 201 horsepower and 195 pound-feet of torque. That's pretty much equal to the Honda Civic Si Coupe, as is its curb weight of 2,899 pounds. Though it doesn't sing the same melodically mechanical song as the Honda's, the Veloster's turbo four-cylinder nevertheless delivers a satisfying punch. It responds and feels like it belongs in a vehicle with sporting intentions. On a mountain road, the new Veloster is capable, poised and legitimately fun. When completing my local mountain road evaluation route, I was compelled to turn around and run it again — the usual indication of a dynamic job well-done. This handling boon also doesn't come at the expense of ride quality. Sure, it's on the firm side, but it's also not crashy or tiresome relative other sporty compact cars. I'd be curious to try it with the Veloster Turbo R-Spec's manual transmission, though, as the regular Turbo's seven-speed dual-clutch automated manual lacks the precision and smarts of VW's DSG and other such transmissions. In Smart or Sport mode, it's not quick enough to respond to throttle or braking inputs, let alone anticipate the need for them. In manual mode, the engine oddly hangs onto revs when upshifting. The tachometer drops down to a lower rev count, but the engine continues to sing for a split-second. It's unusual. Though this transmission performed well enough in a compact crossover like the Kona, a wannabe hot hatch like the Veloster might be asking too much. That, however, is not why the Veloster ultimately left me cold. While it excels on a mountain road, it is merely OK everywhere else. It just isn't alive and involving enough to make mundane drives a joy — much as a Civic Si or VW GTI can.

Honda, Hyundai and Kia get best word-of-mouth recommendations in US

Forget advertising, incentives and, yes, even our excellently crafted vehicle reviews, sometimes the best way for automakers to sell cars is still good ol' fashioned word of mouth. In an attempt to measure this "word of mouth" power, The Boston Consulting Group, a management consulting firm, has created a new study called the Brand Advocacy Index (BAI). The index takes a look at how various industries perform from person to person. Those industries include automotive, smartphones, grocery, mobile telecommunications and banking.
The study polled more than 32,000 individuals across Europe and in the US to come up with the top 55 brands in these various industries. On the automotive side of things, the top brands in the US were Honda, Hyundai and Kia, all tied at 63 percent. On a global scale, Volkswagen and Toyota scored the highest with a 65-percent BAI rating (both in France). The average BAI for auto industry players tallied 50 percent.
As for companies in other industries, Apple's iPhone was the index's top-rated smartphone, Trader Joe's was the highest recommended grocery store, Virgin was sat atop the mobile telecom industry and USAA was the top retail bank. Scroll down for the full press release on the new study.