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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

2021 Hyundai Elantra vs. compact sedans | How they compare on paper

Despite the rising popularity of crossovers, the sedan market remains packed and fiercely competitive. It looks like it will stay that way with the introduction of the strikingly redesigned 2021 Hyundai Elantra. And since Hyundai was kind enough to provide plenty of specifications on the new car, we figured we ought to see how it stacks up to some of the latest and greatest small sedans on the market. For this comparison we picked the two best-sellers, the Honda Civic and Toyota Corolla, one of the other recently redesigned sedans, the Nissan Sentra, and a perennial enthusiast favorite, the Mazda3. Below you'll find a chart with all the raw numbers for your perusal. Following that will be our usual break down and analysis of the numbers and any other noteworthy features not included in the chart. Performance and Fuel Economy While the design and chassis are all-new on the Elantra, the base powertrain isn't. It uses a version of the naturally aspirated 2.0-liter four-cylinder shared throughout the Hyundai and Kia line-ups, and it's again paired with a CVT. With 147 horsepower and 132 pound-feet of torque, it's the second least powerful entry for conventionally-powered sedans, only ahead of the sluggish 1.8-liter base engine in the Toyota Corolla. For those looking for a peppy small sedan, the Mazda3's naturally aspirated 2.5-liter has the most power and torque, even ahead of the turbocharged Honda Civic's 174 ponies. On the other hand, the Elantra, which Hyundai says will have better fuel economy than the outgoing model, should get at least 36 mpg combined, and probably better, making it the most efficient non-hybrid of this group. For the best blend of power and efficiency, the Civic is likely the way to go, as its turbo engine can return 36 mpg combined in lower trims. If you want a manual transmission in this body shape, only the Civic and Corolla offer it. A manual transmission is available on the Mazda3 hatchback, and the turbo Civic can also be had with a manual in hatchback or Si forms. A new powertrain for the Elantra is the hybrid. It's unique compared to other hybrids in that it's coupled to a six-speed dual-clutch transmission, rather than an electronically controlled CVT (which is not the same thing as a CVT) or something too complicated to describe in this sentence (the Honda Insight).

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.