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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.

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:

2018 Hyundai Ioniq Plug-In Hybrid costs $26,000, goes 29 miles on electricity

The Hyundai Ioniq hybrid and Ioniq Electric were two of the more pleasant surprises of 2017. Besides their lofty fuel economy and useful electric range, respectively, they boasted reasonable pricing, a useful interior and shockingly buttoned down handling. They could almost be deemed fun to drive. Yet, there was a missing member of the family for 2017. While we always knew a plug-in hybrid would be added — it was with its siblings when the Ioniq was introduced at the 2016 New York Auto Show, and we drove a prototype earlier this year — it wouldn't be until year 2 when the production car would show its face. And although that face is shared with the Ioniq Hybrid rather than the Electric, the 2018 Hyundai Ioniq Plug-in Hybrid obviously has its own set of facts and figures that have now been revealed. Chief among them is a 29-mile all-electric driving range, which, when depleted, effectively turns the Ioniq Plug-in into a regular hybrid capable of 52 mpg combined. It has a 119 MPGe estimate, for whatever that's worth. To put all those numbers into perspective, there's the Toyota Prius Prime (25 miles, 54 mpg combined, 133 MPGe), the Honda Clarity Plug-in Hybrid (48 miles, 42 mpg combined, 110 MPGe), Chevrolet Volt (53 miles, 42 mpg combined, 106 MPGe), and the Ioniq's mechanical sibling, the Kia Niro Plug-In Hybrid (26 miles, 46 mpg combined, 105 MPGe). Pricing for the Ioniq Plug-in Hybrid starts at $25,835, including destination. The Limited trim level starts at $29,185. By comparison, the regular Ioniq Hybrid starts at $22,200 for its Blue trim and goes up to $27,550 for the Limited trim. However, keep in mind that the Plug-in Hybrid is subject to a $4,500 federal tax rebate plus whatever your particular state doles out. As such, the Plug-in Hybrid is effectively cheaper. That's also the case with the Toyota Prius Prime relative to the regular Prius. However, the Prime starts at just north of $27,995 (including destination). A regular Prius' base price is also only about $1,500 lower than the Ioniq Hybrid. In other words, the Plug-in Hybrid seems like a screaming bargain ... and if its siblings are any indication, it'll be a pretty appealing car, too. Other updates for the 2018 Ioniq lineup include paddle shifters added to the Hybrid (yay?), lane keeping assist added when lane departure warning is specified, and the availability of red paint for the Hybrid.