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Hyundai, Kia ratchet up fleet sales as retail transactions slide

Automotive News reports both Hyundai and Kia have stepped up fleet sales in an attempt to offset disappointing first quarter results. The Korean automakers saw their sales decline by nine percent compared to last year, while all major competitors managed to increase their sales. That situation marks an inversion of two years ago, when both gained ground after Japanese rivals suffered production and inventory shortages after the country's earthquake and tsunami tragedies.
Now, Hyundai can't come up with enough volume models in popular trim configurations to satisfy buyers, and lower-volume models are also in a snag. At the moment, Hyundai can only build 20-30 percent of Veloster hatchbacks with turbocharged engines while the US market would apparently support closer to 70 percent.
In order to reverse the sales slide, Hyundai and Kia have stepped up fleet sales of the vehicles they do have by some 50 percent, ringing up a total of 42,400 units in the first quarter. By contrast, Automotive News reports the seven largest automakers increased retail volume by seven percent and fleet sales by four percent as a group.

Hyundai will add smaller crossovers and make the Santa Fe and Tucson bigger

At the LA Auto Show, Hyundai North American CEO Dave Zuchowski detailed plans to change the all-important crossovers in the company's lineup to better suit the ravenous tastes of American CUV shoppers, Automotive News reports. There are two important aspects: up-sizing existing crossovers, and introducing new small crossovers beneath them. With regard to the first part, Zuchowski said that the Santa Fe and related Santa Fe Sport will both grow in size, and differentiate from each other – which is good, because consumers are generally confused about how the five-seat Sport relates to the seven-seat Santa Fe. In the future, the regular Santa Fe will grow to become an eight-seat crossover, and the Sport will also grow and be redesigned as a more rugged-looking Jeep competitor, AN reports. Along those lines, Zuchowski says the company will change the name of the Santa Fe Sport to reduce confusion and better communicate its market position. The Tucson will grow a bit, but won't be significantly reimagined. The report also indicates that Hyundai also plans on introducing a B-segment crossover in 2018 – that is to say, a competitor to vehicles like the Honda HR-V and Jeep Renegade. We had previously reported that a B-segment crossover was on the way but didn't have timing. Further down the road, an even smaller A-segment crossover will be introduced. These new vehicles will be on sale by 2020, as will the revised Santa Fe and Tucson lines. Related Video:

Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.