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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.

The world's first fuel cell car sharing program launches in Germany

As EVs become increasingly mainstream, they seem to have found a natural home in carsharing services. BlueIndy has left its mark on Indianapolis, Ford has been testing its own EV sharing programs, Japan and China have seen their share of programs pop up, electric carsharing is helping low-income neighborhoods in Los Angeles, and more models continue to emerge. On the flip side, Car2go made news recently when it pulled EVs from its fleet in San Diego. Absent from the carsharing scene, though, have been hydrogen fuel cell vehicles. But even that is changing. In Munich, Germany, industrial gases company (think hydrogen) Linde has launched BeeZero, a carsharing service comprised completely of fuel cell vehicles. The fleet is made up of Hyundai Tucson Fuel Cell crossovers (called the ix35 Fuel Cell in Europe). It's the first hydrogen-powered carsharing service in the world, and Bavaria just happens to be a hub for hydrogen research and technology. Beezero, a new subsidiary of Linde, begins public service this summer with a fleet of 50 Tucson Fuel Cells. It offers users on-demand access to zero-emissions driving, but without the range limitations of battery electric vehicles. These H2-powered Hyundais can travel over 370 miles on a single tank, offering more flexibility to travel to the surrounding areas. If users want to visit the nearby lakes or mountains, they'll also have room to cart their gear with them. Drivers will be able to reserve a car online or through a smartphone app, and vehicles will be available in various zones in and around the city of Munich. As for the hydrogen used to fuel the fleet, Linde creates it from sustainable sources, promising carbon-neutral voyages. While the public gets access to hydrogen-powered mobility, Linde gets to learn from the experience. "We expect to gain valuable information from day-to-day fleet operations which we will use to further develop our hydrogen technologies and to help expand the hydrogen infrastructure," says Linde Executive Board member Dr. Christian Bruch. "BeeZero synergises two mobility trends that are gaining a lot of ground at the moment – car sharing and zero emissions – and will bring the benefits of fuel cell technology to a wider group of potential users." Read more in the press release below.

Apple's digital car keys may work with Hyundai and Genesis models this summer

Apple's digital car key feature might soon be useful for unlocking more than a handful of BMW models. In his latest newsletter, Bloomberg's Mark Gurman claimed Hyundai and its upscale Genesis badge will support Apple CarKey "by the summer." It's not certain which models would provide the option, but it's notable that some trim levels of the Ioniq 5 and other Hyundai cars include NFC for a (currently proprietary) digital key. While remote lock controls have been available through smartphones for a while, CarKey (and its Android equivalent) treats the phone more like a physical key. You just have to bring your phone or Apple Watch to the door handle to unlock it, and you can even place your phone in a given area to start the car. People with ultra-wideband iPhones (such as the iPhone 11 and newer) can even leave their phone in their pocket when opening and starting the vehicle. If the leak is accurate, Apple's move could significantly expand the audience for digital car keys — you wouldn't need to shop from one high-end marque to even consider it. A deal would also suggest the tussle over a possible EV collaboration wasn't enough to deter Apple and Hyundai from exploring a CarKey team-up. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Genesis Hyundai Technology Smartphone Apple