2013 Hyundai Elantra Gls on 2040-cars

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Pre-owned deal alert: Hyundai Genesis

Hyundai used to make really crappy cars: horrible to drive, horrible build quality, and unreliable. Any sales person that sold Hyundais in the early 2000s can regale you with a story that goes like this: "I was delivering a brand new Hyundai to a customer and _____________ broke, but I told the customer _______________ and the customer brought the car home anyway. Selling those pieces of crap required true salesmanship. Hyundai knew its products would not sell without a competitive edge, so it offered one of the best warranties in America: 5 years/60,000 miles bumper to bumper and 10 year/100,000 miles on the powertrain. At the time most consumers viewed that warranty as a necessity; they felt they would not buy a Hyundai without the best warranty in America. All of that changed in 2008 with the debut of the Hyundai Genesis sedan. Everyone thought a luxurious Hyundai was impossible until they saw and drove the vehicle. The design was subdued yet elegant, the interior was not world-class but was above average, the ride was comfortable and quiet, and its steering was acceptable. The Genesis sedan is powered by a 4.6-liter, 375-horsepower V8 or a 3.8-liter, 290-horsepower V6. Both of these engines were smooth and propelled the car to 60 in under six seconds. The Genesis was not better than a Lexus or a Mercedes. But it was a great value: The starting price was $34,000 for a V6 base and topped out well under $50,000 if you got the V8 and tech package. Even so, Hyundai knew people might not plunk down $40,000 for a Hyundai, so they leased them out at really aggressive numbers. A no-money-down lease on the Genesis was around $450 a month during the darkest days of the recession. I was told the dealers were leasing them out for around $350 a month. Which brings us to today, when the market is flooded with tons of lease returns. A used Hyundai Genesis is an even better value. There are a good number of 2013 models with under 45,000 miles on the odometer for under $20,000; the average price is at $18,500. Assuming the vehicle was leased in 2013, you would still get at least two years and 20k miles on the bumper-to-bumper and at least five years of powertrain warranty with the car. Most of these lease return models come with power everything, leather, sunroof, upgraded sound system – most of what you expect in a luxury car. Some are more aggressively priced than others.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Autoblog Podcast #362

Episode #362 of the Autoblog podcast is here, and this week, Dan Roth and Chris Paukert cover the year-end news, including the surprise resignation of Hyundai Motor North America CEO John Krafcik, strong early sales for the 2014 Jeep Cherokee, and 2015 Ford F-150 rumors ahead of its expected Detroit Auto Show debut. Dan also had a chance to look back at 2013 and ahead to 2014 with Autoline's John McElroy. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along after the jump with our Q&A. Thanks for listening!
Autoblog Podcast #362:
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