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How Hyundai lost momentum, and will 'take a few years' to recover

SEOUL/DETROIT/CHONGQING, China — At a near-empty Hyundai Motor showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world's largest auto market. Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan dealership was selling about 400 vehicles a month, a store manager there said. "The sales are simply poor," Li told Reuters. "Look at the Nissan store next door, they have tens of customers while we just have two." An hour's drive away is Hyundai's massive $1 billion manufacturing plant, which opened last year with a target to produce 300,000 vehicles per year. But with sales weak and the Chinese auto market slowing sharply, the factory is running at roughly 30 percent of capacity, two people with knowledge of the matter said. The sources asked not to be identified because the information was not public. Hyundai, the world's fifth largest automaker, declined to comment on the Chongqing plant's production or the showroom's sales but said it is "closely cooperating" with local partner BAIC to turn around the China business. BAIC did not respond to requests for comment. Hyundai's woes mark a major reversal for the automaker which was an early success story in China as it quickly and cheaply rolled out popular new models into a surging market. In 2009, Hyundai and partner Kia's combined sales ranked third in China after General Motors and Volkswagen. The South Korean duo now ranks ninth, and its market share in China was 4 percent last year, from more than10 percent at the beginning of this decade. Executives and industry experts say Hyundai conceded its once stronghold in the low-end segment to fast-growing Chinese rivals such as Geely and BYD. Foreign rivals not only defended their turf in premium segments but also kept pricing competitive for mass-market models, squeezing Hyundai's positioning as an affordable foreign brand, they said. In the United States, the world's second-biggest auto market, Hyundai's market share fell to 4 percent last year, near a decade low. Hyundai ran into problems in China and the United States for similar reasons: It missed shifts in consumer tastes, especially the surge in demand for SUVs, and it sought higher prices than its brand image could command, four Chinese dealers and half a dozen former and current U.S.

Toyota tops Consumer Reports best, worst used car values

We often mock Toyota for building boring, soulless cars, but a new study by Consumer Reports suggests that regardless of whether that's true, the company has some of the best used cars on the market. In its report on used cars from 2004-2013, the Japanese automaker had 11 vehicles among its brands on the list - more than any other automaker.
CR breaks the list down by cost and vehicle size, and Toyota has at least one entry at every price point and in nearly every segment. To score a recommendation, a vehicle had to perform well in the magazine's initial tests and score above-average reliability results. It also tried to only suggest cars with electronic stability control. Of the 28 recommended vehicles, Honda/Acura had the second most mentions at six, and Ford, Hyundai and Subaru managed two each.
The Detroit brands also made it to the list, but not in a positive way. Consumer Reports compiled a list of 22 vehicles it wouldn't recommend because "they have multiple years of much-worse-than-average overall reliability." General Motors had the most unrecommended models on the list at six, but Chrysler and Ford weren't far behind, with five cars each from their brands not making the grade. The full list of recommendations is available on CR's website.

Hyundai's first N-performance car is hidden under the RN30 concept

Hyundai is moving ever closer to revealing their first high-performance N brand car, and the RN30 is the latest step in that direction. The concept is based on the new i30 hatchback, which was also revealed in Paris, and shares the engine that will power the i30N that comes out next year. It's obvious that the RN30 isn't a stock car, although the engine is closer to reality than the wild bodywork. The basic block will power the i30's fast sibling, but the rest of the four-cylinder has been given the racing treatment. A bigger turbo and forged internals combine to create 375 horsepower and 333 lb-ft of torque sent to all four wheels. It also comes with an electronic limited slip differential and a dual-clutch transmission. Don't count on this powertrain coming to market, despite how cool it would be to see a South Korean Focus RS. However, it is a sign the i30N will have a potent foundation. Draped around the powertrain is a race-ready body that is 30 mm wider and 84 mm shorter than the standard i30 and comes with all the requisite vents, wings, and diffusers. Bucking convention, this car not have carbon fiber body panels. For weight savings, Hyundai enlisted the help of BASF to craft some new lightweight plastics for the car. To save more weight, Hyundai gutted the interior down to the bare necessities. Whatever was left was then moved as low as possible, including the seats, to bring down the center of gravity. Although almost everything about the RN30 is about going faster, not all of it is. Or at least not directly. In classic concept car fashion, the RN30 still gets at least one gimmicky feature. On the interior side of each A-pillar is a camera mounted in an image-stabilizing gimbal, and in the top fin, there is another forward facing camera. Hyundai says these record the car on track and the driver, with the idea being that the driver can cut together video of a track day to share with friends. As previously mentioned, don't expect to see the production i30N to pack this much power when it hits the road next year. However, if it comes even remotely close to the performance of this concept, it should be a very entertaining hot hatch. Odds are good that it will come to the US as well, since the i30 will arrive here next spring as the Elantra GT. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.