2014 Hyundai Sonata Gls on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

Hyundai spices up Euro lineup with i20 Coupe, i30 Turbo, revised i40

Hyundai's model line in North America is made up of nameplates like Accent, Elantra and Sonata, but across the pond in Europe, the Korean automaker takes an alphanumeric approach. And it's just revealed a whole slate of new models. Arguably the most enticing of the fresh batch of Hyundais destined for Europe is the new i20 Coupe. Joining the recently refreshed, Ford Fiesta-sized i20 five-door hatch, the new three-door gets a more rakish roofline, beefed-up wheel arches and other visual enhancements to appeal to a younger demographic. European buyers will be able to choose between four engines – two diesels and two gasoline units – ranging from 1.1 liters to 1.4 liters, offering anywhere between 74 horsepower up to 99 hp, with a new 1.0-liter turbo three to follow. Hyundai Motor Europe has also revealed a refreshed version of its Focus-sized i30 with refreshed styling and upgraded equipment. The kicker, though, is the new i30 Turbo that packs the Korean automaker's 1.6-liter turbo four, but detuned from the 201 horsepower it produces in the Veloster Turbo and Kia Cee'd GT to "only" 183 hp. Although the refreshed i30 is available in three-door hatch, five-door hatch or wagon bodystyles, and with a six-speed manual or seven-speed dual clutch, the turbo engine is only being offered with the manual and in hatchback form. Finally, Hyundai has also announced a refreshed version of the i40. Just a bit smaller than the Ford Fusion/Mondeo, the i40 is available in sedan and wagon forms, and benefits in this latest iteration from updated sheetmetal, a more refined cabin, upgraded equipment and a new diesel engine displacing 1.7 liters and putting out 113 or 139 horsepower, channeled through a six-speed manual or (on the more powerful version) a seven-speed DCT. Interested parties will want to scope out images of all the new models in the accompanying galleries and details in the trio of press releases below. DIFFERENTIATED BY DESIGN: HYUNDAI MOTOR INTRODUCES NEW GENERATION i20 COUPE - Hyundai Motor reveals New Generation i20 Coupe - Clear design differentiation for unique three-door - Extends the appeal of New Generation i20 to younger customers High Wycombe, 10 December 2014 - Hyundai Motor has today unveiled the New Generation i20 Coupe. For the first time, Hyundai has created a three-door B-segment car that is significantly differentiated from the five-door model.

Hyundai And Kia To Pay US $100M For Overstating MPG

Korean automakers Hyundai and Kia will pay the U.S. government a $100 million penalty to end a two-year investigation into overstated gas mileage claims on about one-third of their models. The government says the civil penalty is the largest for a Clean Air Act violation in U.S. history. The discrepancy was discovered after the EPA got complaints about lower-than-advertised mileage on Hyundai's Elantra compact. Audits discovered overstated mileage on the Elantra and other models from 2011 into 2013. Hyundai says it made honest mistakes in interpreting complex EPA mileage test requirements. Neither company admitted liability and both maintain they complied with the law. Generally mileage was overstated by one or two miles per gallon on 13 vehicles. But one vehicle's highway mileage was 6 mpg higher than the EPA tested. Auto News Hyundai Kia mpg