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Hyundai, union reach tentative labor deal

According to Reuters, South Korea's labor unions may have reached a tentative deal with Hyundai following a compromise between the two sides on wages. Workers have staged a number of stoppages since August 20, which have cost the South Korean giant 1.02 trillion won - around $1.1B US. It also represents just over 50,000 units of production. That vehicle total sounds like a lot, but it's a small enough figure that Hyundai can apparently catch up with weekend and overtime shifts. We'd wager that this is why US inventories haven't been hit quite so hard aside from the battering already taking place. The proposal will now go before the union's rank and file.
If ratified, the new agreement will see workers getting a 5.14-percent raise in base salaries, along with 8.5-million-won (roughly $7,800) bonuses. Those concessions are a far cry compared to what the union was initially demanding, though. Early proposals included a 56.25-gram gold medal for each employee (worth about $2,400) and a 10-million won bonus (about $9,100) for employees whose children chose not to attend college. The union also sought a bonus worth two months' salary for workers that have been with the company for over 40 years, but this was negotiated down to a flat rate of six-million won ($5,464).
Based on Reuters' report, the work stoppages must have taken a real toll on Hyundai - its domestic sales dropped 20 percent last month, while exports were down nine percent. Those startling figures must have put some fire under the Hyundai bargaining team.

Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

2020 Toyota Highlander vs other 3-row crossovers: There can only be one!

We've done quite a few spec comparison posts involving three-row family crossovers, and when included, the Toyota Highlander has always been the runt of the group. While the rest increasingly seemed to be benchmarking each other toward greater girth, the Highlander was the outlier.  That changes a bit for the 2020 Toyota Highlander, but only a bit. It's now larger and more competitive, specifically in regards to the amount of cargo space aft of the third-row seat. As you can see below, this aligns the Highlander most closely to its long-time competitor the 2020 Honda Pilot. However, let's see how it stacks up to others in the segment, which is heavily populated now, so for the sake of space, we've selected the newest entries: Kia Telluride, Hyundai Palisade, Subaru Ascent and Ford Explorer. The order in which they are presented is random.  Performance and fuel economy The 2020 Highlander is more than 200 pounds lighter than its predecessor, but has the same 295-horsepower V6 engine that was already one of the strongest in the segment. We'd say that would give it a leg up, but the Pilot and Explorer have proven to be sprinters, delivering 0-60 times in the low-6 range by some publications' stopwatches (or VBoxes, whatever). We don't expect the Highlander to beat them, but it may dip into the 6's. The heavy, less-powerful Subaru Ascent is most likely to take up the rear. It's fuel economy of 23 mpg combined also matches the Highlander and Explorer for segment-best. Remember, however, that the Explorer's turbocharged inline-four engine is likely more susceptible to differences in driving style (read: a heavy foot).  Of course, if you're really interested in fuel economy, the Highlander and Explorer are the only vehicles in the segment to offer hybrid versions. The Ford Explorer Hybrid puts a greater emphasis on performance, however, resulting in lower estimates of 25 mpg combined (AWD) and 28 mpg combined (FWD). By contrast, the new 2020 Toyota Highlander Hybrid is estimated to return 36 mpg combined.  Passenger and cargo space According to Highlander chief engineer Yoshikazu Saeki, he had a choice of two directions with the new Highlander. He could have indeed made it bigger, matching these very competitors, especially in terms of third-row and cargo space. Or, he could have maintained a smaller-than-average size. He obviously chose the latter. First, it was the size customers had come to expect. Would they be put off by something bigger?