2024 Hyundai Palisade Sel on 2040-cars

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Hyundai boosted production in March, so now its cars sit in U.S. ports

SEOUL — As Detroit's automakers shut production in March due to the coronavirus pandemic, South Korea's Hyundai cranked up its factories back home to ship cars to the United States, a move that is proving costly for the world's fifth-largest auto group. Hyundai ramped up domestic production to as much as 98% of capacity by late March, not only as the Korean market was recovering from a bad February but also because it bet on demand for Tucson SUVs and other models from U.S. customers, its biggest overseas market outside of China. While Hyundai is one of few global automakers whose production has recovered at home, its exports optimism has been dampened by the severity of the U.S. outbreak, weak consumer sentiment and as rivals have quickly moved to guard their turf. Consignments of cars shipped from South Korea are now sitting in U.S. ports, with dealers slow to take deliveries because of slumping sales and rising inventory, four people with knowledge of the matter told Reuters. The company idled a Tucson production line at home last week for five days, while sister firm Kia is looking to suspend three Korean plants for a week. And analysts now expect a sharp drop in first-quarter operating profit when it reports results on Thursday and some even forecast a second-quarter loss. "I hope that the situation will recover by the middle of next month. If not, we might have to lay off some people," said Brad Cannon, general manager of an exclusive Hyundai dealership in California, whose sales are down more than 50% from when the pandemic started. Hyundai runs a factory in Alabama — which is closed until May 1 — but imports are key to meet U.S. demand. Only about half of its vehicles sold in the United States are made in North America compared to between 68% and 85% for Japanese rivals Toyota, Nissan and Honda, who have also suspended production there till May. The South Korean company makes about 61% of its cars overseas, up from 48% a decade ago. That leaves it vulnerable to overseas factory shutdowns and shrinking demand outside of its home market. Hyundai's South Korean factory operation, which had recovered from a component shortage from China to nearly 100% capacity by March, could fall to as much as 70% in April, the company recently told analysts. "We will continue to monitor the situation and take appropriate action promptly," Hyundai said in an emailed statement. Minimizing the impact For its part, Hyundai has taken measures to minimize the impact.

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

2017 Hyundai Elantra First Drive [w/video]

Here's the thing: It's tough to get excited about a mainstream compact car. We tried. Hyundai's latest Elantra is better than the last Elantra, a car that got few people excited. Not a ton has changed, but there's fresh sheetmetal, improved efficiency, and more options than before, all on top of a revised chassis. That's kind of the trend in new cars these days. The last one was fine, this one is more fine. The Elantra engineers at least resisted the urge to make the car larger. Its interior and cargo volume figures are within tenths of last year's figures, which means they once again put the Elantra into the EPA's midsize bracket. With that comes a midsize feature set, including a few items no other "compact" car offers. For now, Hyundai is offering the 2017 Elantra in base SE and top-of-the-line Limited trims. Both come with a 2.0-liter four-cylinder (more on that below). The SE offers a Popular Equipment Package that most people will want and many will choose (hence the name). It includes a seven-inch touchscreen head unit with Android Auto and Apple CarPlay functionality, as well as a rearview camera, automatic headlamps, audio controls on the steering wheel, Bluetooth, cruise control, heated side mirrors, 16-inch wheels, and a hood insulator to keep some engine noise from making it to your ears. An SE tech package adds things like blind-spot monitoring and rear cross-traffic alert. For now, Hyundai is offering the 2017 Elantra in base SE and top-of-the-line Limited trims. Step up to a Limited, and you get leather, a power driver's seat, 17s, and a bunch of other stuff. The Limited also unlocks option packages: one that revolves around an eight-inch nav touchscreen and another that adds safety items like radar cruise control and auto braking with pedestrian detection. That last one is a segment exclusive, if you're keeping score at home. To get all of the stuff you can't in any other car in this class, you'd be shopping in the next segment's price range anyway. And speaking of segment firsts, cars with the proximity key (SE with Tech Package and above) come with a hands-free trunk release. It lets you pop the trunk lid by just standing near it with the key, but it only releases it and doesn't fully open wide like on some cars with power trunk open and close. So it sort of solves a problem. The engine and available transmissions are nothing groundbreaking. In contrast to the features, the engine and available transmissions are nothing groundbreaking.