13 Elantra Coupe, 1.8l 4 Cylinder, Auto, Cloth, Pwr Equip, Clean 1 Owner! on 2040-cars

Auto blog

Hyundai recalls 10k Genesis Coupes for detached driveshafts

Hyundai has issued a recall for 10,800 examples of the Genesis Coupe. The problem with vehicles affected rests with the differential, which may have been misaligned with the crossmember of the rear suspension. In such a case, the bolts securing the differential may loosen, and could lead to the driveshaft disconnecting entirely, resulting in the complete loss of propulsion. The recall specifically affects certain models manufactured between December 28, 2011, and April 6, 2015. The problem is only with those units fitted with the six-speed manual transmission and not the eight-speed automatic. To address the problem, owners will be asked to bring their Genesis Coupes in to their local dealer to "verify the proper assembly of the differential." The Genesis Coupe was first introduced in its home market back in 2008, and arrived in North America the following year as a 2010 model. The most recent revision happened in 2013 – the model year with which this recall begins. A completely new model is expected to arrive soon as part of the new Genesis luxury sub-brand's lineup. Related Video: RECALL Subject : Rear Suspension Bolts may be Loose Report Receipt Date: NOV 16, 2015 NHTSA Campaign Number: 15V756000 Component(s): POWER TRAIN , SUSPENSION Potential Number of Units Affected: 10,800 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2013-2015 Genesis Coupe vehicles manufactured December 28, 2011, to April 6, 2015, equipped with manual transmissions. In the affected vehicles, if the differential and the suspension rear crossmember were not properly aligned during vehicle assembly, the bolts that secure the differential may loosen. CONSEQUENCE: If the rear differential loosens from its mounting position, the driveshaft may disconnect from the differential, resulting in a loss of propulsion and an increased risk of a crash. REMEDY: Hyundai will notify owners, and dealers will verify the proper assembly of the differential, free of charge. The recall is expected to begin on January 11, 2016. Owners may contact Hyundai's customer service at 1-855-671-3059. Hyundai's number for this recall is 135. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.

Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.