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Hyundai calling in 65k Sonatas over ABS warning light

A problem with the ABS warning light has prompted Hyundai to issue a recall for nearly 65,000 examples of the Sonata sedan. The issue seeks to rectify an issue that would prevent a warning light in the dash from alerting the driver of a malfunction with the anti-lock brakes. The recall campaign specifically affects 2015-16 Sonatas manufactured between May 28, 2014, and August 21, 2015. Hyundai estimates that 64,744 such examples are to be found in the United States. If the warning light doesn't illuminate, the driver may not be aware that there's a problem with the ABS. And, according to the statement below from the National Highway Traffic Safety Administration, that could increase the likelihood of a crash. To fix the issue, Hyundai will notify owners to bring their Sonatas in to their local dealership to have the software in the control unit updated. The recall is scheduled to commence on December 11. Related Video: RECALL Subject : ABS Warning Lamp May Not Illuminate/FMVSS 135 Report Receipt Date: OCT 20, 2015 NHTSA Campaign Number: 15V678000 Component(s): ELECTRICAL SYSTEM Potential Number of Units Affected: 64,744 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2015-2016 Sonata vehicles manufactured May 28, 2014, to August 21, 2015. The affected vehicles are equipped with an Antilock Braking System (ABS) warning light intended to warn the driver if there is an ABS malfunction. In the event of an ABS malfunction, the Brake System warning light will illuminate, but the ABS warning light will not illuminate. Since the vehicles have ABS malfunction lights that do not illuminate, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 135, "Light Vehicle Brake Systems." CONSEQUENCE: If the driver is alerted there is a brake system malfunction, but not specifically with the ABS system, the driver may operate the vehicle unaware that the vehicle's brakes may lock up during hard braking, increasing the risk of a crash. REMEDY: Hyundai will notify owners, and dealers will update the ABS control unit software, free of charge. The recall is expected to begin December 11, 2015. Owners may contact Hyundai customer service at 1-855-671-3059. Hyundai's number for this recall is 134. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

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.

Hyundai boosted production in March, so now its cars sit in U.S. ports

SEOUL — As Detroit's automakers shut production in March due to the coronavirus pandemic, South Korea's Hyundai cranked up its factories back home to ship cars to the United States, a move that is proving costly for the world's fifth-largest auto group. Hyundai ramped up domestic production to as much as 98% of capacity by late March, not only as the Korean market was recovering from a bad February but also because it bet on demand for Tucson SUVs and other models from U.S. customers, its biggest overseas market outside of China. While Hyundai is one of few global automakers whose production has recovered at home, its exports optimism has been dampened by the severity of the U.S. outbreak, weak consumer sentiment and as rivals have quickly moved to guard their turf. Consignments of cars shipped from South Korea are now sitting in U.S. ports, with dealers slow to take deliveries because of slumping sales and rising inventory, four people with knowledge of the matter told Reuters. The company idled a Tucson production line at home last week for five days, while sister firm Kia is looking to suspend three Korean plants for a week. And analysts now expect a sharp drop in first-quarter operating profit when it reports results on Thursday and some even forecast a second-quarter loss. "I hope that the situation will recover by the middle of next month. If not, we might have to lay off some people," said Brad Cannon, general manager of an exclusive Hyundai dealership in California, whose sales are down more than 50% from when the pandemic started. Hyundai runs a factory in Alabama — which is closed until May 1 — but imports are key to meet U.S. demand. Only about half of its vehicles sold in the United States are made in North America compared to between 68% and 85% for Japanese rivals Toyota, Nissan and Honda, who have also suspended production there till May. The South Korean company makes about 61% of its cars overseas, up from 48% a decade ago. That leaves it vulnerable to overseas factory shutdowns and shrinking demand outside of its home market. Hyundai's South Korean factory operation, which had recovered from a component shortage from China to nearly 100% capacity by March, could fall to as much as 70% in April, the company recently told analysts. "We will continue to monitor the situation and take appropriate action promptly," Hyundai said in an emailed statement. Minimizing the impact For its part, Hyundai has taken measures to minimize the impact.