2014 Hyundai Elantra Limited on 2040-cars

Auto blog

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.

First 2019 Hyundai Nexo fuel-cell vehicle delivered

Hyundai's multiple-pronged approach to electrification is helping the automaker to cover its bases as we move away from carbon-emitting internal combustion vehicles. It is entering the long-range battery-electric vehicle game with the Kona EV, and it is following up on its hydrogen strategy with the 2019 Nexo, which replaces the Tucson Fuel Cell. We've had a couple of opportunities to sample the Nexo fuel-cell crossover, and now it's making its way into the garages of the general public; Hyundai has delivered the first Nexo to a customer in California. The first Hyundai Nexo customer is Ventura resident Todd Hochrad, who took delivery from Keyes Hyundai in Van Nuys. The former scientist is no stranger to electrification, having owned hybrid and battery electric vehicles in the past. Now he'll be able to enjoy emissions-free driving (well, apart from the clean water byproduct) as well as the convenience of quick fill-ups at the hydrogen fueling station. Customers in California can buy a Hyundai Nexo for a starting MSRP of $58,300. Hyundai also offers a 36-month lease: The Nexo Blue goes for $399 a month, while the Limited leases for $449. The Nexo is eligible for a $5,000 tax credit from the state of California, and customers also receive a year of free maintenance and fueling cards good for the first three years of ownership. We've had the opportunity to drive the Hyundai Nexo fuel-cell SUV, and found it to be a pleasant drive — calm, quiet and comfortable, with a quality interior and robust driver-assist technologies. It's a shame that our limited hydrogen-fueling infrastructure will keep this car limited to certain regions in the U.S., primarily San Francisco and Southern California, for now. Related Video:

Genesis gets serious about selling cars in China with new CEO

Hyundai's Genesis brand announced Tuesday that former Mercedes-Benz vice president Markus Henne was named CEO of Genesis Motors China. Henne will be in charge of the company's push to introduce the brand to the world's largest automotive market.  Henne will report to the brand's new global boss, William Lee, who was appointed to run the luxury subsidiary in October. One of Lee's key goals is to expand the brand's footprint in Europe and introduce it to China. Henne previously served as VP of Sales & Marketing for Mercedes-Benz in Taiwan, and prior to that oversaw the AMG division in China.  Hyundai does not yet have an ETA for formally introducing the Genesis brand to the Chinese market. Feasibility studies are still pending.  Unfortunately, while China's auto market is massive, with more than 20 million units sold to date so far in 2019, it's also one of the most tumultuous. This will be yet another major obstacle to the success of Hyundai's premium brand, which has struggled to gain traction in the United States thanks to corporate restructuring and an anachronistic product mix leaning heavily on sedans.  Genesis is working hard to correct the issues with its lineup. A lack of crossover/SUV offerings would likely be the headline for any other struggling brand, but the company's woes extend far beyond the showroom appeal of its current offerings.  In 2019, Genesis completed a restructuring of its U.S. operations. America is the brand's core market, and for much of 2018, it was unable to do business in most states thanks to Hyundai's decision to spin Genesis off into an independent brand with its own dealer franchises. Throughout the year, sales volumes tumbled as Genesis simply did not have retail outlets through which to move product.