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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.

Editors' Picks September 2021 | Genesis GV70, Grand Cherokee L and more

This month of Editors' Picks saw us award the honor to a few top-notch crossovers and SUVs, plus one luxury sportback. Manufacturers keep rolling out excellent new crossovers, and the Genesis GV70 and Jeep Grand Cherokee L are great examples. Plus, living the good life with our long-term Hyundai Palisade has been evidence enough that it's worthy of an editors' pick. Read on below for the full breakdown and see what made the cut for September. In case you missed our previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in August that earned an EditorsÂ’ Pick. 2022 Genesis GV70 2022 Genesis GV70 at Mt St Helens View 37 Photos Quick take: Genesis' first shot at a compact luxury crossover is a strong one that moves the segment forward and makes for an excellent alternative to one of the many other established options. Score: 8 What it competes with: BMW X3, Mercedes-Benz GLC-Class, Audi Q5, Lexus NX, Acura RDX, Volvo XC60, Lincoln Corsair, Infiniti QX50, Porsche Macan Pros: Gorgeous looks inside and out, forward-looking tech, good ride and handling balance Cons: Nothing budget about it, no true performance option From the editors Editor-in-Chief Greg Migliore — "Blending style and power, the GV70 shows Genesis is serious about delivering a strong execution in a critical segment. Props to Genesis for its risk-taking design, which has remade its lineup with confidence. The GV70 is just the latest in a series of wins for Genesis." In-depth analysis: 2022 Genesis GV70 First Drive Review | The real deal   2021 Jeep Grand Cherokee L 2021 Jeep Grand Cherokee L View 35 Photos Quick take: The 2022 Grand Cherokee L is inarguably immense, swank, and much better on-road than the previous SUV. It even keeps up the Jeep tradition of being great off-road while still carrying tons of passengers and gear.

South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus