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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.

Recharge Wrap-up: Canada gets Hyundai Tucson Fuel Cell, Washington governor favors EVs

Washington Governor Jay Inslee wants extend tax breaks for EVs past the July 1 expiration date. He also calls for looking into allowing EVs use of carpool lanes and creating charging infrastructure. Inslee sees encouraging electric driving as a way to help mitigate climate change, but detractors within the state don't like the idea of giving priorities to certain drivers. "I'm not enthusiastic about a subsidy that picks winners and losers and doesn't help the middle class," says representative Reuven Carlyle. Read more at The State. Novozymes says it has an enzyme solution, called Eversa, that can make biodiesel from waste oils. The technology converts the vegetable oils used by the food industry into usable fuel. The enzymatic process is said to be cheaper and safer than chemical processes with fewer harmful byproducts, and can handle higher levels of free fatty acids. The process is safer than others, says Novozymes' Frederik Mejlby, due to the lack of required high temperature and pressure, and that the "organic nature and mild process conditions do not generate toxic components as in some chemical biodiesel processes." Read more in the press release below. The USDA has announced funding of advanced biofuels and the bioeconomy. The USDA is providing $5.6 million in grants to advanced biofuel producers, as well as an additional $4 million toward a bioeconomy to reduce dependence on foreign oil. The funds come from the USDA's Advanced Biofuel Payment Program, which is part of the 2008 Farm Bill. The biofuel sources targeted are, in particular, crop residue, animal, food and yard waste, vegetable oil and animal fat. Read more in the press release below. Hyundai will be offering the Tucson Fuel Cell for lease in Canada. Beginning in early 2015, the hydrogen vehicle will be available to customers in Vancouver, British Columbia. It's the first hydrogen vehicle from a major automaker in the country. "We are proud to be leading the fuel cell movement," says Hyundai Auto Canada President and CEO Don Romano, "and now is the time for auto companies, governments, and citizens to join us in this initiative and push for the creation of a hydrogen infrastructure in Canada to maintain this positive momentum." Read more in the press release below. New enzyme technology converts waste oils into biodiesel Novozymes' latest offering secures flexible feedstock selection and lower operational costs for biodiesel producers.

2021 L.A. Auto Show roundup | All the reveals, reviews, pictures

The L.A. Auto Show took place this week for the first time since the onset of the pandemic. It was a show packed with news and reveals, which hasn't really been the case with other shows we've seen this year, and Autoblog was on the floor covering every minute of it. Well, Riswick and Stocksdale were, anyway. The rest of us were sitting at home in our sweatpants, but hey, we'll take credit anyway. Let's get to it. Hyundai Seven Concept This is the Hyundai Seven Concept, and it’s meant to act as a preview for an incoming electric SUV for the Ioniq brand. It leans more toward the concept side of the spectrum than a production car, but expect the final SUV to take design cues from the Seven Concept. Kia Concept EV9 The Hyundai Seven counterpart isn't the only big, bold electric SUV at L.A. this year. Kia has its own take, and it's a modernized version of the traditional boxy utility vehicle called the Concept EV9. It also previews one of the next production electric cars for the brand, which should look right at home next to things like the Telluride. 2023 Kia Sportage HEV As promised, the 2023 Kia Sportage HEV has been revealed. The hybrid powertrain makes the compact SUV the most powerful version available, and it goes on sale next year. The engine is a turbocharged 1.6-liter four-cylinder paired with a 44-kW electric motor. Total output is 226 horsepower. The company didn't give a torque number, but it should basically be the same as the Sorento HEV that has the same basic powertrain: 258 pound-feet. Those numbers are a healthy step up from the 187 horsepower of the base 2.5-liter engine. 2022 Range Rover If you noticed how extra smooth and suave the new Range Rover looked during its recent reveal, Autoblog's James Riswick got a design tour that revealed some of the technological secrets to its success. "Less is more" is harder to achieve than it looks. Fisker Ocean Fisker has brought the new Ocean EV to the L.A. Auto Show, with a public preview at Manhattan Beach and a presence at the show itself. You can watch the public show reveal above, and see more shots from the show floor below. Fisker says the Ocean will start at $37,499 before incentives. That entry model would be the Sport trim with a single, 275-horsepower motor driving the front wheels and 250 miles of estimated range. It also has a 0-60 time of 6.9 seconds. 2023 Toyota bZ4X This is the 2023 Toyota bZ4X, due to hit U.S.