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Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.

2019 Hyundai Santa Fe previewed in official renderings

As we near its official reveal in Geneva, Hyundai is trickling out more teasers of the 2019 Santa Fe crossover SUV. This time, instead of a dark photo, the company released a pair of renderings of the new family car. From what we can tell, it's like a huge, subtle Kona. At the front, we can see the SUV version of Hyundai's corporate "Cascade" grille complete with mesh insert instead of the slats found on Hyundai cars. The most obvious connection between this and the Kona are the headlights. It appears illumination may be split between slim, angry lamps high up, and a set of extra lamps lower in the fascia. The front fascia also looks more upright and tough than that of the current model. From what we've seen in spy photos, the front fascia seen in the rendering will translate very closely to real life. The illustrations also suggest the new Santa Fe will have much more sculpted, detailed flanks, too. Bolder plastic cladding shows up on the rocker panels, complete with contrasting aluminum brightwork. Another nod to the Kona shows up in the wheel arches. The creases rise up at the back, similar to the Kona's plastic flares. The rendering also shows a crease just below the windows running along the length of the Santa Fe. Looking at the last teaser image of the actual crossover, this crease is quite prominent. At the rear, the plastic cladding continues along the bottom. The hatch also looks more sculpted than the plain slab of the current model. It also appears to be raked forward more. But the forward rake is countered by the window line on the sides that rises upward. As mentioned with the front fascia, comparing these renderings to spy shots and the previous teaser, it looks like the production Santa Fe will look very much like it does here. Only the exaggerated things like the ultra-slim windows and massive wheels with rubber-band tires will be altered by the hands of rational, practical engineers. As such, the Santa Fe should be a pretty handsome family hauler, and a slightly bigger one than its predecessor, when it makes its debut at the Geneva show in March. Related Video:

Hyundai could eventually get a bespoke N performance model

Hyundai's N Performance division seems to have a few tricks up its proverbial sleeve, with a performance version of the Tucson crossover reportedly under development and the sub-brand toying with a 247-horsepower version of the Kona. Now comes word that N could eventually develop its own standalone performance model. N Performance division boss Albert Biermann tells Top Gear he's enjoying far more freedom to develop hot cars than he did at his former employer, BMW. And that includes the possibility of a bespoke N model that isn't based on an existing, hotted-up nameplate. Biermann tells Top Gear, "We have been working on this. Like the Racing Midship, which we've done three versions of. We are still working on these cars, trying different things. Maybe someday we will have such a car. There is no decision yet, but it could happen." The Racing Midship is the full name of the mid-engine RM concepts Hyundai has developed as both the Veloster RM and RM15, both based on the Veloster hatchback. The latter was built around an aluminum space frame and fitted with carbon fiber panels, with a 2.0-liter turbocharged four-cylinder doing 296 horsepower. Biermann says a bespoke N sports car is likely a ways off, however, saying Hyundai needs to give its dealer network time to get accustomed to the idea of performance cars. His team also works on products by stablemates Kia and Genesis, so it's possible we could see performance versions make their way into those brands as well. For now, the 271-horsepower i30 N, which isn't sold here in the U.S., is the first N model, with the 275-hp Veloster N hitting dealerships late in 2018. Spy shots also captured a heavily camouflaged i30 N fastback earlier this year. Then there are the Tucson N and the Kona N mule prototype to show to Hyundai brass for possible production. So it sounds like it's going to be fun to watch this performance sub-brand unfurl its wings. Related Video: News Source: Top GearImage Credit: Drew Phillips Hyundai Hatchback Performance Hyundai N hyundai veloster n albert biermann hyundai i30 n