2014 Hyundai Elantra Limited on 2040-cars

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South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus

So, how do you actually pronounce that automaker's name?

You probably have that friend who always says Porsche wrong, or maybe it's someone who keeps reminding you it's actually two syllables. Whichever side of the pronunciation debate you fall on, you'll find someone to root for in the video above. And before you ask, this was all the video team's idea. So don't get mad at me for being the voice of reason. BMW Chevrolet Hyundai Nissan Rolls-Royce Videos Original Video nissan qashqai

2019 Hyundai Veloster will start at $19,385

Hyundai's 2019 Veloster hatchback will start at $19,385 for the 2.0-liter with a manual transmission when it arrives at dealers in the coming weeks. It'll also be available in Turbo and R-Spec trim configurations, which start at $23,785 for a manual and top out at a $29,035 starting price for the Turbo Ultimate fitted with a dual-clutch transmission. All prices are inclusive of Hyundai's $885 freight charge. Hyundai unveiled the 2019 Veloster as the car's second generation at the Detroit Auto Show in January. Production of the Veloster began in March in Ulsan, South Korea, while Hyundai says the hot hatch will come to U.S. showrooms in the second quarter, or before the calendar flips to July. Engine choices include a standard 2.0-liter Atkinson-cycle four-cylinder, which makes 147 horsepower and 132 pound-feet of torque, a slight uptick over its predecessor, and a 1.6-liter turbocharged, direct-injected four-cylinder that makes 201 hp and 195 lb-ft of torque, the same as before. The former is coupled with a six-speed manual or automatic transmission and three selectable driving modes, while the turbo is mated to a standard six-speed manual or seven-speed dual-clutch transmission with paddle shifters mounted to the steering wheel. R-Spec manual-trans models will get a B&M Racing sport shifter later on. Fuel-economy numbers are in from the EPA and start at 25 miles per gallon in the city, 28 on the highway and 28 mpg combined for the 2.0-liter manual, and they top out at 28 mpg city, 34 highway and 30 combined for the automatic dual-clutch transmission found in the top-of-the-line Turbo Ultimate model. All models get lane-keeping assist and forward collision-avoidance assist, which helps apply braking when the front camera detects an imminent collision, plus available safety tech like high-beam assist and driver attention warning. A 7-inch LCD touchscreen is standard, as is Android Auto and Apple CarPlay integration. Upgrade to the 8-inch touchscreen and you get next-generation Blue Link remote safety and diagnostic service, traffic flow and incident data via HD radio and premium audio from Infinity. Related Video: