2002 Hyundai Elantra Gt Hatchback 5-door 2.0l on 2040-cars

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Hyundai mulling new Lexus-fighting upscale crossover

The idea of Hyundai marketing a luxury automobile might have seemed ridiculous a decade ago, but that was before the Genesis sedan, Genesis coupe and Equus came along. Now that buyers seem more accustomed to the notion of an upscale Hyundai, the Korean automaker is said to be considering launching a luxury crossover to take on the likes of the Lexus RX and Cadillac SRX.
The report comes from our compatriots at Edmunds, who spoke to Dave Zuchowski, head of Hyundai's North American unit, who said that the project is not yet part of the company's plan, but that "it is something under consideration."
The last time Hyundai entered that territory was with the Veracruz (pictured above), a model that was sometimes compared to but ultimately failed to compete with the Lexus RX when it was sold between 2006 and 2011. The Veracruz was effectively replaced by the seven-passenger Santa Fe with which it shared its underpinnings. This new project being considered would similarly be based on the latest Santa Fe, and the challenge Hyundai is facing once again would be to position it as a sufficiently upscale product to warrant a premium sticker price.

Hyundai's electric car strategy takes shape under the radar

Green car fans are frothing over the Tesla Model 3. The Chevy Bolt may turn out to be the better car, and it will be available sooner. But don't overlook another electric car that's also due next year: the Hyundai Ioniq. With far less attention, Hyundai is launching an EV that is expected to be competitively priced and will spearhead the Ioniq lineup, which also has hybrid and plug-in hybrid versions. They share the same platform and look similar, but the Ioniq EV could prove to be a game-changer for Hyundai when it arrives at the end of the year, bringing new customers and casting the company as one with proficiency in the electric arena. Built in South Korea, the Ioniq line will be available at every Hyundai dealership that wants to sell the cars, already giving it a leg up on Teslas that often have long waiting periods for buyers. With a range of 124 miles on a single charge, it won't compete with the Model 3, which will travel at least 215 miles on a charge, or the Bolt, which has a range of 238 miles. Rather, it will face off against humbler products like the Nissan Leaf (107 miles) and the Volkswagen E-Golf (83 miles). Hyundai has not announced pricing, but is mindful the Ioniq trails Chevy and Tesla in range. An executive also indicated it could be working on an Ioniq with a longer distance capability, but declined to discuss specifics. Hyundai argues its found a sweet spot with the Ioniq EV, whose range is well within the distance most Americans drive in a day. It can recharge in about four hours and 25 minutes, which is faster than the six-hour charge time for the Leaf but slightly longer than the four-hour E-Golf. In quick charge mode, the Ioniq can juice up to 80 percent in 23 minutes. Critically, Hyundai is also offering a lifetime warranty on all of its hybrid and electric battery packs (it has since 2012), which could sway consumers still wary of the technology. It's a lot of numbers, and Hyundai will need considerable marketing muscle to make buyers consider Ioniqs in the face of a growing field of electrified competitors. But it's part of a broader play to reach an audience of younger consumers, who expect electrification to be baked into their cars. Millennials will account for 40 percent of new car purchases by 2020, and Hyundai says the generation is more likely to consider alternative powertrains than older ones.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.