2014 Hyundai Equus on 2040-cars

Auto blog

Hyundai NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.

2016 Hyundai Sonata Hybrid and Plug-In First Drive

Hyundai is coming to the plug-in hybrid sedan party a bit late. No surprise there. Company execs are fully aware of that fact and were eager to say, "Hey, no big deal," at a media briefing on the new 2016 Sonata Hybrid and Plug-In Hybrid in California last week. The press materials for the new cars offered lots of comparison charts that "proved" (using numbers) that the Hyundais are all-around better than their midsize competition. While Hyundai is at the forefront of the hydrogen fuel cell game in the US with the Tucson Fuel Cell Vehicle, the Korean automaker has a lot of ground to make up when it comes to plug-in vehicles. Good thing, then, that the Sonata is a smooth operator and solid performer out on the road. If you're going to show up late, you better make a dramatic entrance. While I much prefer the distinctive shape of the sixth-generation Sonata, there's nothing inherently bad about the new style in the current models. The Hybrid and PHEV update the seventh-gen look of the 2015 Sonata with more aerodynamic front and rear ends, new rocker panels, distinctive headlights and taillights, and eco-spoke alloy wheels. All of these changes reduce drag, dropping the coefficient from 0.27 in the gas-only car to 0.24 for the hybrids. You know what other vehicle has a 0.24 cD? The Tesla Model S. We asked why the standard Sonata doesn't get this slippery update and were told that the improvements came along after the gas model's design had been locked in, but there is a chance some of these changes will find their way to the non-electric vehicle in a future facelift. After spending a day with the new Sonatas, I can say that Hyundai is most welcome at the plug-in vehicle party. The Honda Accord PHEV and Ford Fusion Energi don't get the attention or sales they deserve, and there are some who will say Hyundai got all dressed up for a shindig that's not really worth attending (ever-stricter fuel economy regulations beg to differ). But the more the merrier, in my opinion. And since the Sonata PHEV will indeed be available in all 50 states (with a big caveat) later this year, it won't be long until we see if Hyundai can inject some life into the scene. The main problem is that we don't yet really know how the PHEV compares in terms of MSRP, since Hyundai isn't releasing pricing until some point closer to launch. The automaker did say it expects the PHEV to qualify for a $4,919 tax credit from the federal government.

Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.