2013 Hyundai Elantra Gls on 2040-cars

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Hyundai outlines EV strategy as it struggles with cost of engine defects

SEOUL — South Korea's Hyundai Motor pledged to boost sales of electric vehicles to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai, the world's fifth largest car maker along with affiliate Kia Motors, underscores the accelerating strategy shift under Euisun Chung, who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv. The firm said on Thursday it plans to launch 16 EV models by 2025 to boost sales of such vehicles 17-fold to 560,000 by that year. Still, that would be equivalent to just over 10% of its projected global sales this year. The projection compares with more bullish forecasts offered by its bigger rivals. Volkswagen AG expects to make 22 million EVs over the next decade, while General Motors aims to sell 1 million EVs annually by 2026. "That is not an ambitious target. If Hyundai fails to boost volumes fast enough, costs of electric cars will weigh on profitability," Lee Jae-il, an analyst at Eugene Securities & Investment. Hyundai said that the EV market would face intensifying competition and oversupply soon and automakers failing to meet toughening European emissions regulations will face heavy penalties and suffer a serious blow to their reputation. "EV supply is expected to surpass demand from the second half of next year," Ka Suk-hyun, vice president of Hyundai Motor, told an earnings conference call. Quality issues Hyundai's third-quarter net profit rose 59% to 427 billion won ($365 million), well below the average 684 billion profit estimate of analysts based on Refinitiv data, due to 600 billion won provisions it earmarked to address potential engine defects in the United States and South Korea. Quality issues have been a major drag in Hyundai's attempt to steer a recovery from six consecutive annual profit declines and constrained its financial firepower to invest in future technologies. It is still under investigation by U.S regulators and prosecutors over potential faulty engines in some models. Total retail sales fell 3% in the third quarter, as higher U.S.

Best cheap SUVs: You don't have to pay a lot to get a lot

Here's a news flash: Everything is a lot more expensive now! And that definitely goes for new SUVs, with prices that keep nudging higher and higher. Actually "nudging" might be too soft of a description for their motion. "Skyrocketing" is probably more accurate.  While higher prices and hefty interest rates have likely knocked a lot of people out of the new car market entirely, there are still quite a few cheap SUV choices. Better still, they're not terrible! Far from it, in fact. While the lowest price SUVs used to be drab, sorry affairs best left to the lots of Avis and Budget, that is definitely not the case today. Not only are there legitimately appealing cheap SUV choices, they offer genuine differences in character, capability and design. It's not just a series of anonymous boxes with different badges. Below you won't just find a simple list of the cheapest SUVs available. We are actually pointing out the best ones. They are listed from least expensive to most expensive, with none exceeding a starting price of $30,000. Most are subcompacts, but a few of our top choices in the compact SUV segment snuck on. Finally, please excuse the crummy photo quality. We sought out representative trim levels of the prices in question rather than just reusing pretty carmaker-provided photos of the most expensive trim levels. This is what the cars will actually look like. Kia Soul Why it stands out: Ample space and abundant features for the money; unique style; strong turbo engine upgrade Could be better: All-wheel drive is not available Starting Price: $21,315 Read our most recent Kia Soul Review The Kia Soul definitely didn't start off as a small SUV, and the term "crossover" is probably better applied to it. Still, what started life as an undefinable funky tall hatchback now finds itself in its third generation with numerous vehicles of similar shape and size that are dubbed "small SUV" or "small crossover." If it walks like a duck and quacks like a duck ... Call it what you will, but the Soul delivers the goods with tons of equipment and space for its price and size, an agreeable driving demeanor, and an even more powerful engine upgrade than the Kona's. We also think it's pretty cool. All of the above helped it win our subcompact SUV comparison test. Now, if there's one area where the Soul does not satisfy a typical SUV requirement, it's the lack of available all-wheel drive.

2019 Hyundai Santa Fe previewed in official renderings

As we near its official reveal in Geneva, Hyundai is trickling out more teasers of the 2019 Santa Fe crossover SUV. This time, instead of a dark photo, the company released a pair of renderings of the new family car. From what we can tell, it's like a huge, subtle Kona. At the front, we can see the SUV version of Hyundai's corporate "Cascade" grille complete with mesh insert instead of the slats found on Hyundai cars. The most obvious connection between this and the Kona are the headlights. It appears illumination may be split between slim, angry lamps high up, and a set of extra lamps lower in the fascia. The front fascia also looks more upright and tough than that of the current model. From what we've seen in spy photos, the front fascia seen in the rendering will translate very closely to real life. The illustrations also suggest the new Santa Fe will have much more sculpted, detailed flanks, too. Bolder plastic cladding shows up on the rocker panels, complete with contrasting aluminum brightwork. Another nod to the Kona shows up in the wheel arches. The creases rise up at the back, similar to the Kona's plastic flares. The rendering also shows a crease just below the windows running along the length of the Santa Fe. Looking at the last teaser image of the actual crossover, this crease is quite prominent. At the rear, the plastic cladding continues along the bottom. The hatch also looks more sculpted than the plain slab of the current model. It also appears to be raked forward more. But the forward rake is countered by the window line on the sides that rises upward. As mentioned with the front fascia, comparing these renderings to spy shots and the previous teaser, it looks like the production Santa Fe will look very much like it does here. Only the exaggerated things like the ultra-slim windows and massive wheels with rubber-band tires will be altered by the hands of rational, practical engineers. As such, the Santa Fe should be a pretty handsome family hauler, and a slightly bigger one than its predecessor, when it makes its debut at the Geneva show in March. Related Video: