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Ex-Hyundai CEO Krafcik joins TrueCar board amidst IPO plans

Former Hyundai Motor America CEO John Krafcik has had a tumultuous year. Last June, he won the Automotive Executive of the Year from DNV Business Assurance. Then in December, he suddenly announced he was stepping down from his leadership role at the Korean automaker on January 1, with some suggesting it was because the company's sales growth was too far below forecasts. Now, it looks like the exec has landed a new role on the board of directors of online car shopping website TrueCar.
According to The Wall Street Journal, Krafcik's role will be to build relationships with automakers and dealers, but the job at TrueCar won't be full time. Since leaving Hyundai, Krafcik has also been doing consulting work in Silicon Valley. "It's helped me understand what I might want to do, full, full time. I am just taking things at the appropriate pace," he said to the Journal.
Krafcik, who is widely considered one of the industry's top executives, took the helm at Hyundai America in 2008 and led it to an increase in sales and market share. He was with the company when it won North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively.

Hyundai New Generation i20 WRC previews next year's rally weapon

With just three events left in the 2015 World Rally Championship season, Hyundai Motorsport is sitting in second place in the teams' championship behind Volkswagen Motorsport. The South Korean company is already looking forward to next season, though, when it debuts a new WRC car based on the latest i20. Those attending the Frankfurt Motor Show are getting a preview of the future rally machine in a pristine racing livery ahead of hitting the dirt. Dubbed the New Generation i20 WRC, the car replaces the current i20-based rally car. The competition-spec body sports some big, boxed fenders at the front and rear, and the double-decker wing looks great at the back. Hyundai claims that the latest version also has better aerodynamics, a more efficient powertrain, and improved weight distribution. It's still undergoing rigorous testing and debuts at the Rally Monte Carlo next year. The racer was originally supposed to be based on the latest three-door i20, but a delay caused the five-door body to become the basis for the machine. Beyond the aggressive shape, some of the most obvious visual touches on the New Generation i20 WRC are the massive N logo in the grille and smaller badges on the fenders and wheels. These are supposed to denote the rally car's connection to Hyundai's freshly launched performance sub-brand. The company claims that the lightweight materials, engine tech, tight handling, and aero bits developed for its racers could find their way to the road through these upcoming vehicles. Hyundai Motor Reveals Passion for High Performance with N Sub-brand at Frankfurt Motor Show • Hyundai Motor's high performance sub-brand N takes center stage at the 2015 Frankfurt Motor Show • A preview of the New Generation i20 WRC car is presented alongside N performance concepts • A vision of high performance technology in Hyundai vehicles is shown with two dynamic concepts – RM15 and Hyundai N 2025 Vision Gran Turismo • Hyundai N Bobsleigh 2016, developed for the Korean national bobsleigh team, is displayed at the Motor Show September 15, 2015 - Hyundai Motor, the fastest growing automaker by brand value, showcases its high performance sub-brand N at the 2015 Frankfurt International Motor Show. Built on the foundation of the company's intensive product development and motorsport experiences, Hyundai N ultimately aims to bring 'the most thrilling winding road fun' to customers who truly love cars.

Hyundai will launch pickup, more SUVs to reverse U.S. sales slide

By Paul Lienert and Hyunjoo Jin DETROIT/SEOUL — Hyundai plans to launch a pickup truck in the United States as part of a broader plan to catch up with a shift away from sedans in one of the Korean automaker's most important markets, a senior company executive said. Michael J. O'Brien, vice president of corporate and product planning at Hyundai's U.S. unit, told Reuters that Hyundai's top management has given the green light for development of a pickup truck similar to a show vehicle called the Santa Cruz that U.S. Hyundai executives unveiled in 2015. Hyundai currently does not offer a pickup truck in the United States. Hyundai also plans to launch a small SUV called the Kona in the United States later this year. People familiar with the automaker's plans said separately that Hyundai plans to launch three other new or refreshed SUVs by 2020. So-called crossovers — sport utilities built on chassis similar to sedans — now account for about 30 percent of total light vehicle sales in the United States. Consumers in China, the world's largest auto market, are also substituting car-based SUVs for sedans. People familiar with Hyundai's plans said the company plans to roll out a new version of its Santa Fe Sport midsize SUV next year, followed by an all-new seven-passenger crossover to replace a current three-row Santa Fe in early 2019 in the United Sates. A redesigned Tucson SUV is expected in 2020, people familiar with Hyundai's plans said. Hyundai's U.S. dealers have pushed the company to invest more aggressively in SUVs and trucks as demand for sedans such as the midsize Sonata and the smaller Elantra has waned, and as Hyundai has announced a shift to electric vehicles. "We are optimistic about the future," Scott Fink, chief executive of Hyundai of New Port Richey, Fla., which is Hyundai's biggest U.S. dealer, said. "But we are disappointed that we don't have the products today." Hyundai's U.S. sales are down nearly 11 percent this year through July 31, worse than the overall 2.9-percent decline in U.S. car and light truck sales. Sales of the Sonata, once a pillar of Hyundai's U.S. franchise, have fallen 30 percent through the first seven months of 2017. In contrast, sales of Hyundai's current SUV lineup are up 11 percent for the first seven months of this year. "Our glasses are fairly clean," O'Brien said.