2014 Hyundai Sonata Hybrid Limited on 2040-cars

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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

2015 Hyundai Sonata cheaper than last year, starts at $21,150*

Prices for the 2015 Sonata range from $21,150 for the 2.4-liter SE to $33,525 for the 2.0-liter, turbocharged Sport 2.0T.
The arrival of a new generation of a successful car is usually accompanied by a small surge in its price, ranging from a few hundred to a couple thousand dollars. Hyundai, though, is eschewing that practice, delivering its heavily redesigned Sonata for less than its predecessor. It's only a $300 difference over last year's base model, the Sonata GLS, but we don't think the savings will be lost on consumers. The move is part of a larger reshuffling of the Sonata line. The outgoing GLS trim has been replaced by the SE as the base car, while the 2.4-liter engine can now be ordered with the Sport trim. Meanwhile the 2.0T Sport is both the sole turbocharged offering, and tops off the Sonata pricing hierarchy.

Hyundai Kona crossover factory grinds to a halt ahead of U.S. launch

SEOUL — Hyundai workers in South Korea have stopped building the Kona sport utility vehicle this week ahead of its U.S. launch at the L.A. Auto Show — a protest against what the automaker's labor union says are plans to trim assembly-line headcount. The union, which is also in annual talks with management over pay, warned that a wider strike was possible. Hyundai has been in discussions with its labor union since October on production plans for the Kona, a key model that it hopes will reverse a U.S. sales slump. The union contends that the automaker wants to introduce more automation and outsource more assembly of key sections to part makers — plans that it is vehemently opposed to. Hyundai management argues that the union is making "irrelevant demands" such as requests for extra windows in the factory as part of the production discussions. The automaker's decision to start production of the Kona on a new assembly line was made without consultation with the union and was unacceptable, union leader Ha Boo-young said in a statement, adding that a wider strike was possible "should there be another provocation by management." The move comes ahead of a planned unveiling of the U.S.-production version of the Kona at the Los Angeles Auto Show on Wednesday, with U.S. sales slated to begin early next year. The Kona is currently sold in South Korea, where it has proven to be a popular model, as well as Europe. The two days loss of production so far this week is equivalent to 1,230 vehicles, Hyundai said. Hyundai Motor President Yoon Kap-han said it was regrettable that the labor union was disrupting production for a high-demand model at a time when most of its plants were "suffering from the worst sales slowdown." Hyundai Motor's global sales fell 6 percent from January to September compared with the same period a year earlier, as a limited number of SUV models hurt sales in the U.S. market and a diplomatic row between Seoul and Beijing hurt sales in China. Reporting by Hyunjoo JinRelated Video: Featured Gallery 2018 Hyundai Kona: LA 2017 View 13 Photos Related Gallery 2018 Hyundai Kona View 20 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Plants/Manufacturing LA Auto Show Hyundai Crossover SUV 2017 LA Auto Show autoworkers