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Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.

Hyundai Sonata PHEV on sale for $34,600, in some states, at least

Hyundai's first plug-in hybrid vehicle is now available in ten US states, and the even better news is that the car can go the equivalent of a marathon, plus a little change, without using a drop of gas. The South Korean automaker says the vehicle will have a 600-mile driving range and will be able to go 27 miles on electric power alone. Other goodies on the safety front include a blind-spot detection system and rear cross-traffic alerts. The sedan pairs a 2.0-liter gas-powered engine and electric motor that combine for 202 horsepower. The car also delivers an estimated 99 miles per gallon equivalent fuel-economy rating. The model's 9.8-kWh battery is five times the size as the one in the Sonata Hybrid. Exactly how well these cars will sell could be a mystery for a little while, as Hyundai and its sister company Kia have steadfastly refused to disclose hybrid-sales figures and this policy might continue with the PHEV. The Sonata PHEV starts at $34,600 before a potential federal-government incentive worth up to $4,919 kicks in. A "limited" trim runs for $4,000 more. The car, whose specifications were largely detailed last month, will be available for sale in California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island and Vermont. The reason for this limited roll-out, Hyundai executives have said, is that those states have the best charging infrastructure network for PHEVs. No word on when the rest of the country will be able to easily buy the sedan, though folks in the other 40 states can at least put in special orders for the car. Take a look at Hyundai's press release below, and read our First Drive impressions here. Related Video: 2016 HYUNDAI SONATA PLUG-IN HYBRID DELIVERS CLASS-LEADING 27-MILE ALL-ELECTRIC RANGE Exclusive Blue Link Smartphone App Controls Charging Schedule Remotely 2016 Hyundai Sonata Plug-in Hybrid Electric Vehicle (PHEV), Rear Exterior 3/4 FOUNTAIN VALLEY, Calif. November 13, 2015 – This week the 2016 Hyundai Sonata Plug-in Hybrid Electric Vehicle (PHEV) arrives in select dealerships with a competitively priced and compelling product that boasts a class-leading 27-mile All-Electric Range (AER). The 2016 Sonata Plug-in Hybrid offers the efficiency of an alternative powertrain with a unique aerodynamic exterior design, best-in-class total interior volume, premium features and advanced safety technology all at an excellent value.

Hyundai Elantra interior teased

Hyundai doesn't seem too concerned about keeping the next-gen Elantra a secret. Following a recent teaser image of the updated exterior, the Korean company is now giving the world a look at the inside of its upcoming sedan. Similar to the outside, this monochrome rendering shows a minimalist overhaul for the interior. The controls are limited to a few buttons near the gearshift, some nobs on the center stack, and the functions on the steering wheel. The infotainment system is positioned at the center of the dashboard and is flanked by the HVAC vents. For a slight visual flourish, the dash wears a two-tone finish with a lighter shade on the bottom. A piece of trim stretches across the whole width to break up the colors. Hyundai confirmed the next-gen Elantra's debut at the 2015 Los Angeles Auto Show in November. That leaves a lot of time for even more teasers. Rumors suggest the powertrain range might include a turbocharged 1.6-liter four-cylinder, which produces 175 horsepower and 195 pound-feet of torque in the 2016 Tucson.