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Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

2016 Hyundai Tucson starts at $23,595, rated up to 33 mpg

The latest generation of the Hyundai Tucson had its all-new hexagonal face revealed at the 2015 Geneva Motor show earlier this year. But we're finally getting a much better idea of what the North America version of the crossover offers. The 2016 model arrives at Hyundai dealers in July with a base price of $23,595, after the $895 charge for all trims. That's a jump from the current post-destination MSRP of $22,525, but customers get more modern styling and a new powertrain option with the update. In addition to its handsome new styling, the 2016 Tucson grows slightly in length and width for greater cargo space inside. The base SE trim carries over the previous 2.0-liter four-cylinder, six-speed automatic, and front-wheel drive combo with 164 horsepower and 151 pound-feet of torque. Fuel economy jumps slightly to 23 miles per gallon city, 31 mpg highway, and 26 mpg combined – up from the 2015's 23/29/25. However, the real gains start showing up with the Eco, Sport and Limited trims. Those models share a 1.6-liter turbocharged four-cylinder and seven-speed dual-clutch gearbox to replace the previous 2.4-liter four and six-speed auto. The boosted engine is rated at 175 horsepower and 195 pound-feet of torque, which is 7 less ponies but 18 lb-ft more torque than the outgoing mill. In the Eco trim starting at $25,045, the powertrain is rated at 26/33/29 with front-wheel drive. Sport goes for $27,045 and Limited for $30,795, but the turbo engine is rated at 25/30/27 in those latter two guises. All-wheel drive adds $1,400 to any version and knocks one or two mpg from the combined fuel economy figures. Beyond the powertrain improvement, Tucsons are available with an alphabet soup of safety systems to let drivers feel more secure. Inside, a five-inch touchscreen infotainment display is standard and comes with a rearview camera. An optional eight-inch system with navigation is also optional. ALL-NEW 2016 HYUNDAI TUCSON STARTS AT $22,700 Well-Equipped Tucson Features Sporty Styling, Outstanding Efficiency and Leading Safety Technologies FOUNTAIN VALLEY, Calif., July 14, 2015 – Hyundai's all-new 2016 Tucson compact crossover offers an unmatched combination of a modern design, enhanced driving dynamics, increased utility and the latest in safety and entertainment technologies, all with a starting price of $22,700.

Hyundai mulling four-door coupe model, V8 or V6 turbo for next Genesis Coupe

Hyundai is showing no signs of slowing down, with plenty of new product in the pipeline. This, according to a recent Automobile magazine interview with John Krafcik, CEO of Hyundai Motor America.
Krafcik admits the Korean automaker is considering adding a four-door coupe to its lineup, possibly sharing some design elements of the HCD-14 Concept (shown above in Detroit). The brand's flagship Equus luxury sedan will receive a mild refresh, bowing at the New York Auto Show, and an updated Sonata is expected to follow on its heels. The executive dismissed suggestions of an upcoming current-gen V8 Genesis Coupe, saying the present platform cannot accommodate a V8, but an eight-cylinder engine or a turbocharged V6 is a possibility for its eventual successor.
Check out what the CEO had to say about Audi, why the new Honda Accord has Hyundai reconsidering a technology, and read a followup on the company's fuel-economy fiasco in the full interview at Automobile.