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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

Hyundai Rockar dealership concept a kinder way to buy a car [w/video]

The simple car-buying battle line these days usually centers around dealerships versus some alternative method, like online, that bypasses the dealer. A few manufacturers are trying ways in between those two poles, so that customers can visit a retail concept brick-and-mortar location but avoid the negative associations they have with dealerships; Audi's done it in London, BMW's done it in Paris and Tesla is doing it all over. After two years in development, Hyundai has done the same with its Hyundai Rockar store in the Bluewater shopping mall in Kent, England. Hyundai UK partnered with Simon Dixon on the venture, Dixon being a 20-year veteran of the car industry who was frustrated by the experience of having to buy a car at a traditional dealership. Rockar, tucked between a Disney store and a Body Shop, keeps three vehicles in the store; if you prefer, you can handle the entire car-buying transaction online at home, or at computer stations in the store with the help of "Angels," otherwise known as salespeople. Focusing on the retail experience, however, the Angels don't have car backgrounds; they've been trained in the product, but we're told they aren't there to push it on you. Car hunters who want to trade in can input their car to get fair trade value; Rockar says all of its trade-ins go straight to auction, so values are based on dealer auction guides, and every customer gets a no-haggle purchase price. There's a test-drive facility in the mall's enormous parking lot, and prospective customers can go for a spin without a salesperson. It will also attend to routine service needs: owners can book appointments, bring their car to the mall, amuse themselves for a few hours and pick it up the car it's completed. Rockar says it will do routine maintenance on any car, not just Hyundais. Echoing Audi and BMW, Hyundai UK says this isn't about replacing the dealership, but trying to find a better, easier, and less stressful way for potential customers to interact with the brand and buy a car. Bluewater gets 27 million visitors per year, and in just over a month of being open more than 4,000 of them have stopped into Rockar, with three buying a car. Rockar says it will provide free service for three years for the first 100 buyers, and Hyundai expects it to be one of its UK's top ten dealers by the end of 2015. The video has more on the concept. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Head of the class | 2017 Hyundai Ioniq Electric First Drive

With the Ioniq family, Hyundai has cooked up a recipe that looks really good on paper. As with the pair of hybrid models, the Ioniq Electric combines a high level of efficiency with a nice price and styling that is neither drab nor audacious. This is uncharted territory for Hyundai, though. The dedicated platform shared by this trio of electrified vehicles is completely new, and the electric version is the brand's very first battery-electric vehicle. Hyundai's approach means the Ioniq can carve out its own space in the market and capture the attention – and dollars – of eco-minded buyers on a budget. The three Ioniq offerings are all very similar, both in appearance and in underlying technology. The Ioniq Electric, though, is the only one without a gasoline engine (and, for that matter, without the six-speed dual-clutch transmission the hybrids use). For propulsion, it relies solely on its 88-kW (118-horsepower) electric motor, which provides 215 pound-feet of torque. A 28-kWh battery pack supplies the energy, giving it a respectable 124 miles of driving range between charges. "Wait a minute, Scoob," you might be saying. "Only 124 miles? The Chevy Bolt goes 238 miles on a full battery." Yes, that's right. The Bolt is kind of a young, tough shark swimming in the same waters into which Hyundai is dipping its toes. The Bolt, though, has a starting MSRP of $37,495, which is a big sack of ducats for a compact car. It's also $7,160 more than the Ioniq Electric. We'll revisit the price in a little bit. Same as in the hybrids, the Ioniq EV's interior is attractive and comfortable. The seats are supportive, and it's easy to find a cozy position behind the adjustable steering wheel. Taller occupants might find headroom in short supply, at least in models equipped with a sunroof. The materials are all attractive and nice to the touch, tiller included. The digital instrument cluster is fairly simple, and toggles on the steering wheel allow you to put the information you want right in front of you. The 7.0-inch central touchscreen is attractive, although the large amount of information and features available in the various menus could be a little difficult to navigate for some. Others will appreciate the ability to monitor their energy usage, customize settings, find charging stations, and project their smartphone onto the screen via Apple CarPlay or Android Auto. There's even available wireless charging for phones that support it.