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Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

China sticking to its guns on EVs for the future

Automakers are obviously free to develop whatever next-gen, zero-emissions tech that they want. However, if a company wants to get on the good side of the Chinese government, that strategy better include some plug-in vehicles. The authorities there are lending major support to plug-ins at the moment, and its forcing the auto industry to play along. According to Bloomberg, Toyota, Volkswagen, Hyundai, and BMW are all launching dedicated EV brands with their joint venture partners, and as many as 40 electric models could hit the Chinese market this year alone. However, analysts don't think the vehicles are going to sell well. Instead, the launches are essentially a way for companies to play nice with the government and help get the approval to build factories in the country. Take Toyota as an example. The company is pushing the future of hydrogen hard with promotional films for the Mirai and engineers talking down fast-charging EVs. Still, the Japanese automaker is getting ready to launch two EV brands in China with its joint venture partners, according to Bloomberg. China's push for alternative fuels has been happening for a while, but it really kicked into high gear last year. The government has set a goal to improve fleet-wide economy by 40 percent by the end of the decade in order to spend less importing oil and for the population's health. The plan has shown some success so far with hybrid and EV sales growing early in 2015. Related Video: News Source: BloombergImage Credit: Kin Cheung / AP Photo Government/Legal Green BMW Hyundai Toyota Volkswagen Green Culture Technology Electric tax incentives chinese government

2019 Hyundai Veloster | Overdue overhaul, and this just in: N

Hard to believe the Hyundai Veloster is only now coming into its second generation after eight years on the market. Our surprise is likely due to the fact that the Veloster, like the ancient American Alligator mississippiensis, lives mostly out of the way and hasn't changed much in its time here. Hyundai planners worked up a restrained evolution for the 2019 Veloster that takes place mostly in the cabin and under the skin in the standard and middle models. The 2019 Veloster's dimensions grow by fractions: Length grows by 0.8 of an inch, width by 0.4, front overhang by 0.8. Height holds steady at 55.1 inches, but rear headroom gets a few hairs' improvement, increasing by 0.6 of an inch. The three-door wears a new face, that wider, hexagonal grille — and especially that hood shutline connecting the headlights — reminding us of the Ford Focus, a competitor. Elsewhere, details work to make the most of massaged sheetmetal, like the rear of the hood and the A-pillar squeezed rearward "to create a long hood profile," and the liftgate handle moved from the rear hatch sheetmetal to the backlight. Two engines suit up for duty, a 2.0-liter Atkinson-cycle four-cylinder in the base model, with 147 horsepower and 132 pound-feet of torque. That's a bonus of 15 hp and 12 lb-ft over the naturally-aspirated 1.6-liter in the current Veloster and Veloster Value Edition. The next trim rung gets the 1.6-liter turbocharged GDI engine, with no increase in output at 201 hp and 195 lb-ft. View 11 Photos The 2.0-liter comes in either standard or Premium trims. The entry-level gets a choice of either a six-speed manual or a six-speed automatic transmission, the Premium only comes with the automatic. The Turbo comes in three flavors, R-Spec, Turbo, and the new Turbo Ultimate. The R-Spec gets the six-speed manual, Turbo comes with a seven-speed dual-clutch transmission, Turbo Ultimate buyers get their choice of manual or DCT. Moments before the reveal of the Veloster at the Detroit Auto Show, photos leaked of a Veloster N performance version. We've read rumors that the truly hot Veloster N could get anywhere from 250 hp to the same 271 hp as in the i30 N; our guess is that Hyundai wants to leave plenty of room in the middle for revolution at the top of the range. The interior benefits from an overdue overhaul sprinkling available goodies like a full-featured heads-up display, an eight-inch infotainment screen, wireless charging, and Infinity audio.