2023 Hyundai Elantra Sel on 2040-cars

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Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Hyundai readying Juke rival with 'edgy, dynamic styling' for 2017

Love it or hate it, the Nissan Juke has drawn attention to itself and to its maker. Little wonder, then, that Hyundai wants to follow a similar formula.
According to our compatriots over at Edmunds, Hyundai has a whole raft of new products in the works - as you'd expect from the world's fourth-largest automaker - including replacements for the current Tucson and Elantra sometime next year, but also a subcompact crossover to target the Juke, not to mention tiny softroading rivals like the forthcoming Chevrolet Trax. Details at this point are few and far between, but it appears Hyundai is committed to making it as zany as the Nissan it will target. The Korean automaker revealed the Curb concept (pictured above) along similar lines at the 2011 Detroit Auto Show.
Hyundai Motor America CEO Dave Zuchowski tells Edmunds not to expect a mini Tuscon, but to "Think of maybe something that looks like a Juke or something that has edgy, dynamic styling." Considering how off-the-map Hyundai went with the Veloster and its unconventional array of doors, we know the Korean automaker can think outside the box for this Gen-Y crossover. Whether the edge tiny CUV market has space for more than the Juke, however, is another matter. One way or another, look for the tiny Korean crossover to arrive sometime in 2017.

Hyundai Santa Cruz pickup with four doors, five seats, due around 2020

You could boil three years of coverage on the Hyundai Santa Cruz pickup to a question mark. The "crossover truck" debuted at the 2015 Detroit Auto Show, then got swallowed in the executive turmoil at Hyundai Motor America. Reuters reported last year that the Santa Cruz would finally arrive by 2020 as part of the South Korean carmaker's push into SUVs. Motor Trend recently spoke to Brian Smith, the COO at HMA, and got a crucial detail on the eventual truck. Forget about the sleek, two-door concept from Detroit — the actual item will be a "four-door ... that seats five." The redesigned Hyundai Tucson is also due in 2020, the compact crossover providing the platform for the Santa Cruz. If connecting the dots is really this simple, it mean's we'll be getting Hyundai's version of the Honda Ridgeline, the only unibody compact pickup on sale in the U.S. at the moment. And that makes us wonder how the Santa Cruz will fare whenever it gets here. Anyone who wanted to put money down on something similar to the highly popular concept has been booted from the game. They've been replaced by those who can be lured by an alternative to the Ridgeline, but the questions are how many buyers is that, and will the production Santa Cruz be the right truck to close the deal? In 2016, then-CEO Dave Zuchowski said Hyundai research showed the possibility of moving at least 50,000 pickups a year, and other studies suggested 70,000 sales could be possible. Even at the low end, that suggests a remarkable pent-up demand for the kind of truck that's never succeeded in the U.S. The Ridgeline sold 34,749 units in 2017, and numbers are down nearly 30 percent down so far this year. Meanwhile, the body-on-frame (BOF) GMC Canyon sold 32,106 units last year, and it was merely piggybacking on the Chevrolet Colorado, which did 112,996 sales. Even the BOF Nissan Frontier, last refreshed during the Bronze Age, sold 74,360 models. What's more, by the time the Santa Cruz gets here, the new BOF Ford Ranger will revel in actual pent-up demand, and the really cool kids will still be cooing over their new BOF Jeep Wrangler pickup. Looking back at the Ridgeline space, we await word from Volkswagen on the fate of the Tanoak concept. Hyundai could choose to take a stand in the unibody pickup segment on price; the Ridgeline whips up its own headwinds by charging $8,000 more than a Canyon, $11,000 more than a Frontier. Still, a Tucson with a bed, that is two years away ...