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Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.

2014 Hyundai Equus gallops into New York with first major refresh

Hyundai isn't horsing around with the Equus, its premium luxury sedan offering, for the 2014 model year. As stated in the automaker's press release, "Equus is the number-one shopped premium luxury sedan, well ahead of Mercedes-Benz S-Class, BMW 7 Series, Audi A8, Lexus LS, and Jaguar XJ."
We're not entirely certain what "number-one shopped" means, but regardless, that's some serious company to be rubbing elbows with. Hyundai is seeking to draw even more people into its showrooms to cross-shop the Equus with those German, Japanese and British rivals by issuing the car's first major update since it was debuted at the New York Auto Show in 2009.
Not a stone was left unturned in this comprehensive refresh, with the exterior, interior, powertrain and chassis all receiving updates for the new year. Most noticeably on the outside, the 2014 Equus gets a new fascia that includes a restyled grille, along with standard LED fog lamps. Inside, the changes are more drastic and include a brand-new instrument cluster and center stack to go along with "ultra-premium genuine wood trim."

Recharge Wrap-up: Electric Bayliner conversion, China considers EV mandates

An electric mobility enthusiast converted a Bayliner boat to electric power. Using 10 Tesla modules to build a 32-kWh battery pack, Scott Masterson's 2016 Bayliner 175 now uses an electric motor in place of the original 3.0-liter Mercruiser engine. With a top speed of about 53 mph and a range of about 25 miles, Masterson can enjoy a nice cruise on the water without the accompanying gas fumes. He says the conversion wasn't all that complicated, and it took him about three months of part-time work. Check it out in the video above, and read more at Electrek. Audi's updates to the 2017 A3 include the E-Tron plug-in hybrid. Inside the car, it will likely get Audi's "Virtual Cockpit" instrument display. The MMI infotainment system will be updated, with available Apple Carplay and Android Auto functionality. Slight changes to the headlights, taillights, and grille will make up the bulk of the exterior visual changes. Its powertrain will remain unaltered from the 2016 model, including its 83 MPGe combined rating and 16 miles of all-electric driving range. Read more at Green Car Reports. Hyundai has delivered its first hydrogen-powered car to Quebec. The Centre de Gestion de l'Equipment Roulant (Rolling Stock Management Center), which manages the province's government fleets, took delivery of a 2016 Hyundai Tucson Fuel Cell. It is leased in partnership with the University of Quebec's Hydrogen Research Institute of Trois-Rivieres, where the vehicle will be refueled. Read more from Green Car Congress. China is considering mandates for cleaner cars similar to those imposed by California. Unlike its current subsidy-based incentives, China could potentially require automakers to either produce or import more electric vehicles or purchase carbon credits from automakers that do. A draft of the legislation from the National Development and Reform Commission would fine non-compliant automakers at five times the price of the credits. "Without question, this will be good for the industry and will promote the development of all types of clean-energy vehicles," says China Association of Automobile Manufacturers Deputy Secretary General Ye Shengji. Compliance would be voluntary for smaller automakers. Read more from Automotive News.