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Hyundai: hydrogen cars will gain wider acceptance in 10 years

Hyundai Motor Company said Monday it believes hydrogen fuel cell vehicles are the future for eco-friendly cars despite challenges of limited infrastructure and slow sales. South Korea's largest automaker has sold or leased 273 Tucson fuel cell SUVs since beginning production in 2013, mostly in Europe and California. The company had plans to make 1,000 in its first year of production. Kim Sae Hoon, general manager at Hyundai's fuel cell engineering design team, said fuel cell cars represent a bigger opportunity than electric cars because competition is less fierce. Hydrogen-powered cars also give more flexibility to designers, he said. They can be scaled to big vehicles such as buses as well as small cars. They can also be refueled as quickly as gasoline cars while traveling more miles than electric vehicles. The Tucson's European version, called the ix35 Fuel Cell, can travel up to 594 kilometers (369 miles) while its US model travels up to 265 miles (426 kilometers) on one charge on the various government efficiency tests. It emits water vapor and no greenhouse gases. High prices and the dearth of fueling stations are barriers to sales of fuel cell vehicles. Hyundai said it will be another 10 years before hydrogen cars start gaining wider acceptance. In the meantime, sales of eco-friendly cars are dominated by hybrid models such as Toyota's Prius and electric vehicles such as the Nissan Leaf, which are more affordable than fuel cell cars. Hyundai also produces hybrid cars and electric vehicles. It plans to invest 11.3 trillion won ($10 billion) in eco-friendly technology including hybrid cars, electric battery vehicles and hydrogen fuel cells in the four years from 2015. To boost sales, Hyundai slashed the Tucson fuel cell's price in South Korea in February to 85 million won ($76,000) from 150 million won ($134,000). South Korean customers are local government offices as there is no government subsidy for consumers. South Korea's government plans to establish 10 charging stations for fuel cell cars and expects 1,000 hydrogen-powered vehicles will be on the streets in South Korea by 2020. Japan started production of hydrogen-powered cars later than South Korea but such vehicles are experiencing faster growth in Japan with support from Prime Minister Shinzo Abe's government. Toyota started sales of its Mirai fuel cell sedan in December and has decided to increase production to 3,000 vehicles in 2017, which is quadruple production this year.

Hyundai fined $17.35 million for late Genesis recall

The National Highway Traffic Safety Administration has slapped Hyundai with a $17.35 million fine for delaying a recall on the 2009 to 2012 Hyundai Genesis sedan back in 2013. The recall grew from the original figure of 27,500 units to 43,500 sedans in November of last year, and focused on brake fluid that wouldn't prevent corrosion of the hydraulic control unit.
"Hyundai remains committed to making safety our top priority, and is dedicated to ensuring immediate action in response to potential safety concerns including the prompt reporting of safety defects," David Zuchowski, Hyundai's president and CEO, said in a statement.
Hyundai originally issued a technical service bulletin warning dealers to replace brake fluid. This was expanded to a full recall following NHTSA's involvement.

8 new cars that are selling below MSRP

Car shopping has been a frustrating activity for many people in recent years, as strained new car inventories have led to markups and elevated prices across the board. It’s been difficult to find vehicles at anywhere near a reasonable price, and some in-demand models are still listed at a premium today. iSeeCarsÂ’ most recent study looked at several aspects of the new and used vehicle markets and found a handful of models that are selling at a discount – a rarity in todayÂ’s world. Most of the vehicles selling below MSRP in October were electric, though the Nissan Armada and Infiniti QX80 made the top eight. To be clear, weÂ’re not talking about huge discounts here – the Kia EV6 was selling with the largest discount of 3.1%. The other models on the list include: Kia EV6: -3.1 percent off MSRP Ford F-150 hybrid: -2.8% Hyundai Ioniq 6: -2.7% Nissan Armada: -1.8% Hyundai Ioniq 5: -0.9% VW ID.4: -0.6% Kia Niro EV: -0.3% Infiniti QX80: -0.2% Electric and hybrid vehicles like the Kia and Ford have been selling at a premium for a long time, as they experienced stronger than expected demand and had challenging early production runs. That theyÂ’re now selling at a discount could indicate wavering buyer demand, but itÂ’s too early to start sounding any serious alarm bells. Though some models are getting cheaper, the industry average is still heading in the wrong direction. The average MSRP of new cars sold last month was $42,510, while the average sales price was $46,077. That 8.4% overage is surprising to see so many months after the worst of the pandemic has passed. iSeeCarsÂ’ executive analyst Karl Brauer had a few words of encouragement, however, saying, “There are still very few ‘dealsÂ’ in the new car market. Shoppers looking to pay below MSRP for a new car will have to do their research, but a small number of models can be bought below sticker price.” Green Ford Hyundai Infiniti Kia Nissan Volkswagen Car Buying cheap cars