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Ioniq Unlimited is Hyundai's way to get Millennials to subscribe to a car

Let's state at the outset that a lot of the questions you're going to have about the new Ioniq Unlimited vehicle subscription program from Hyundai will not be answered in this post. This isn't because we didn't ask - we did - but because Hyundai is holding on to those details until some time after the service starts, which will be some time after the first of the year. If we had to guess, we'll get the information we seek at CES in early January. But, hey, we're getting ahead of ourselves. What is Ioniq Unlimited, anyway? It's a subscription service for the all-electric version of the Ioniq. Available only in California (during the pilot program, anyway), Ioniq Unlimited is an Internet-based way to get yourself a 2017 Ionic Electric. There are no negotiations, just a single price that you pay every month. That price includes all sorts of things: registration and Doc fees, recharging fees, unlimited mileage, and scheduled maintenance. Oh, and there's no down payment. Hyundai vice president of corporate and product planning, Mike O'Brien, told AutoblogGreen that the idea here is to appeal to millennials, who like to keep their transactions simple. Sign once, pay once, be done. Hyundai is trying to, "make car ownership as easy as owning a phone," O'Brien said. Maybe that's why the subscription terms are 24 and 36 months. O'Brien would not say if people could cancel early. As for the price, all he would say is that it will be, "very competitive." Yeah, we want more information, too. Whatever they cost, the subscriptions will be good for Hyundai, too, since the cars will be treated like leased vehicles (and thus owned by Hyundai's captive leasing program) and totally counted in the company's CAFE numbers. We'll have more details, well, whenever Hyundai feels like it's time to share. For more information on Vehicle Subscription Services, check out the Complete Guide. Related Video:

Hyundai's Genesis luxury brand not going to Europe this decade

After dipping into the premium market with the Genesis and Equus sedans, Hyundai made headlines with the planned launch of a separate premium brand, Genesis. It starts with the renamed G80 (nee Genesis) and redesigned G90 (Equus) sedans here in the US, but European consumers will have to wait. "To launch a premium brand in Europe is a challenge and it's an even bigger challenge if you don't have the products you need for the market," Hyundai Europe Chief Operating Officer Thomas Schmid told Automotive News Europe. "Europe won't see it before 2019. The main reason is we need different powertrains." Powertrains aren't the brand's only shortcoming. With the G70 – a 3 Series competitor – coming as the third showroom product, the brand also won't have a competitor in the increasingly important crossover ranks. As Schmid told ANE, "we don't yet see the right moment to do it because at the end, we want to be successful, and successful also means profitable." Initially, Genesis will launch in North America, the Middle East, China, and South Korea. Pushing back the European launch to 2019 or 2020 should give Genesis some breathing room, ANE reports. By that point, the company will offer six different vehicles, including two CUVs. According to Schmid, the brand would launch in Europe with just five vehicles. At halfway through 2016 and nothing but the G70 on the radar, expect an aggressive product launch schedule in the coming years if Genesis is going to stick to that timeline. Related Video: Featured Gallery Genesis Hybrid Sport Sedan Concept View 10 Photos News Source: Automotive News EuropeImage Credit: Genesis Genesis Hyundai Crossover Luxury

Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.