2010 Hyundai Genesis 3.8 on 2040-cars

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Europe to get next Hyundai Genesis

Hyundai is preparing to make a rather bold move with its Genesis, as reports are now stating that the next-generation rear-drive sedan, which we showed you earlier this week, will be sold in Europe. The first-generation of the Genesis sedan never crossed the pond.
The 2015 Genesis will enter the traditional stomping grounds of BMW, Mercedes-Benz and Audi armed with the same 3.8-liter V6 and 5.0-liter V8 found in the current model. All-wheel drive, a first for the model, will also be available in Europe. "We have to overcome the challenge of competing with established European brands. We expect the Genesis to play a crucial role in improving our brand recognition," Hyundai said in a statement.
Hyundai has done a fair job of changing its image in the US from a budget-minded brand into a legitimate, mainstream competitor that covers a broad swath of the American market, offering cars from the $14,545 Accent to the $61,000 Equus. That movement started in earnest with the Genesis, and it looks like Hyundai is determined to repeat that models success in Europe.

Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

For Hyundai, ZEV credit rules are working

The California Air Resources Board (CARB) has been working on its Zero Emission Vehicle (ZEV) plan since the early 1990s, so no one at Hyundai could act surprised when the automaker finally started selling enough vehicles to be affected by the rules around 2012. In fact, the company had lots of time to prepare for being reclassified as an Intermediate Volume automaker and the obligations to sell ZEV vehicles – fuel cell vehicles, electric vehicles, or plug ins – that come with that title. Today, Hyundai has more credits than it needs and no plans to sell them to other, less forward-looking automakers. "We are not in the business of buying or selling ZEV credits." - Mike O'Brien Anyone paying close enough attention will know that Hyundai has been working on hydrogen fuel cell technology since a little before 2000. O'Brien said that Hyundai's fuel cell program "predated regulation for us by more than a decade and a half." That's why the company is in good standing today. In the ZEV marketplace, the value of one ZEV credit is private information between those who sell them and those looking to buy. So, while we don't know how much money Hyundai's extra credits are actually worth, California does publish the credit balances, so we can at least know how many Hyundai has.The most recent seem to be from 2014, which are available here. That's when Hyundai had 896 ZEV credits, 4,825.71 "advanced technology partial zero-emission vehicles" (AT-PZEV) and 6,751.80 PZEV credits, but O'Brien said that, "We are not in the business of buying or selling credits. To my knowledge, there is nobody I know in this company that has investigated either the purchase or sale of ZEV credits." Hyundai Tucson Fuel Cell in BeeZero Hydrogen Carsharing Program View 6 Photos Instead, Hyundai - like many other automakers - is generating its own credits by selling zero-emission vehicles to offset the vehicles it sells that are too dirty in the ZEV credit scheme. And the company's recent expansion of Tucson Fuel Cell sales into Northern California is likely a preview for the vehicle's availability in the Northeast. After all, that's where the next batch of H2 stations is due and O'Brien has said in the past the Hyundai will sell the vehicle where there's fuel. O'Brien said Hyundai is talking to the same hydrogen providers that competitors like Honda and Toyota are talking to (so, FirstElement Fuel), but is not ready to make any announcements about any infrastructure partnerships.