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How Hyundai lost momentum, and will 'take a few years' to recover

SEOUL/DETROIT/CHONGQING, China — At a near-empty Hyundai Motor showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world's largest auto market. Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan dealership was selling about 400 vehicles a month, a store manager there said. "The sales are simply poor," Li told Reuters. "Look at the Nissan store next door, they have tens of customers while we just have two." An hour's drive away is Hyundai's massive $1 billion manufacturing plant, which opened last year with a target to produce 300,000 vehicles per year. But with sales weak and the Chinese auto market slowing sharply, the factory is running at roughly 30 percent of capacity, two people with knowledge of the matter said. The sources asked not to be identified because the information was not public. Hyundai, the world's fifth largest automaker, declined to comment on the Chongqing plant's production or the showroom's sales but said it is "closely cooperating" with local partner BAIC to turn around the China business. BAIC did not respond to requests for comment. Hyundai's woes mark a major reversal for the automaker which was an early success story in China as it quickly and cheaply rolled out popular new models into a surging market. In 2009, Hyundai and partner Kia's combined sales ranked third in China after General Motors and Volkswagen. The South Korean duo now ranks ninth, and its market share in China was 4 percent last year, from more than10 percent at the beginning of this decade. Executives and industry experts say Hyundai conceded its once stronghold in the low-end segment to fast-growing Chinese rivals such as Geely and BYD. Foreign rivals not only defended their turf in premium segments but also kept pricing competitive for mass-market models, squeezing Hyundai's positioning as an affordable foreign brand, they said. In the United States, the world's second-biggest auto market, Hyundai's market share fell to 4 percent last year, near a decade low. Hyundai ran into problems in China and the United States for similar reasons: It missed shifts in consumer tastes, especially the surge in demand for SUVs, and it sought higher prices than its brand image could command, four Chinese dealers and half a dozen former and current U.S.

Jay Leno recaps Pebble Beach

Each year at the Pebble Beach Concours d'Elegance the picturesque, ocean-side setting of the golf course becomes a parking lot for a vast array of multi-million dollar vehicles. However, if you missed the posh event this year, then Jay Leno has you covered yet again. For a nearly hour-long installment of Jay Leno's Garage, the comedian has dumped his denim in favor of a suit to take viewers on an insider tour of the lavish gathering. He interviewed some of the most talented designers in the auto industry, too. Leno starts off checking out a few beautiful classics by the shore, but things really get interesting for his stroll down the Concept Car Lawn for a scoop on the vehicles of tomorrow. Ed Welburn tells Leno all about the Buick Avenir, and Shiro Nakamura offers a tour of the Infiniti Q60. Plus, there are detailed looks at the Lincoln Continental, Hyundai Vision G Coupe, and Bentley EXP 10 Speed 6. News Source: Jay Leno's Garage via YouTube Bentley Buick Hyundai Infiniti Lincoln McLaren Classics Videos Pebble Beach Jay Lenos Garage infiniti q60 buick avenir bentley exp 10 speed 6

2019 Hyundai Veloster N revealed with 275 horsepower

Hyundai has finally revealed the first N model to come to the U.S., the Veloster N, and it's basically the i30 N's funkier cousin. Under the hood is the very same turbocharged 2.0-liter four-cylinder cranking out 275 horsepower and 260 pound-feet of torque. That power goes to a 6-speed manual transmission that features an automatic rev-matching system for downshifts, and on to the front wheels by way of an electronic limited-slip differential. Backing up the power is a suspension that is adjustable for damping via the various drive modes on the car, which also adjust throttle response, rev-matching characteristics, steering, differential settings and the exhaust note. The Veloster N also has standard 225-mm wide high-performance summer tires on 18-inch wheels, which can be swapped for 19-inch wheels with 235-mm wide high-performance summer tires. There are two sets of brakes available, too. The standard front rotors are 13 inches and the rears are 11.8 inches, and the optional set are 13.6 inches in the front and 12.4 inches in the rear. Of course all of these performance upgrades need more visual flair, which the Veloster N proudly displays. Up front it has a more aggressive front fascia with red accents around the grille. There are vents behind the grilles that direct air toward the brakes for additional cooling. More aggressive side skirts and a faux rear diffuser with split dual-exhaust tips complete the look of the lower body, while a big wing caps it off. That big wing also has a triangular high-mount brake light just like the i30 N. The exterior can be coated in one of four colors, white, black, red, or the trademark light blue of N. The interior gets some updates, too in the way of cloth sports seats, an N steering wheel with buttons in that same blue color, and shift indicator lights appear on the instrument panel. Production of the Veloster N begins this September, and they will be available at dealers in the fourth quarter of this year. If you can't wait, though, the car will be available for download and virtual driving in Forza Motorsport 7 on January 16. Related Video: Featured Gallery 2019 Hyundai Veloster N: Detroit 2018 View 16 Photos Related Gallery 2019 Hyundai Veloster N View 25 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Detroit Auto Show Hyundai Hatchback Performance 2018 detroit auto show hyundai veloster n