2023 Hyundai Santa Fe Sel on 2040-cars

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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.

Driving the BMW M3 CS and Alfa Romeo Stelvio, and Toyota reveals a new Camry | Autoblog Podcast #807

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They kick the discussion off by talking about what they've been driving as of late, including a track test of the 2024 BMW M3 CS and then road drives of the Mazda CX-90, Alfa Romeo Stelvio Veloce and BMW 750e xDrive. After wrapping up the drive section, the pair move on to some early reveals that happened at the L.A. Auto Show. The new Toyota Camry, Toyota Crown Signia, Hyundai Santa Fe XRT and Hyundai Ioniq 5 N are all discussed. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #807 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving 2024 BMW M3 CS 2023 Mazda CX-90 w/inline-six 2024 Alfa Romeo Stelvio Veloce 2024 BMW 750e xDrive PHEV News from L.A. Auto Show 2025 Toyota Camry 2025 Toyota Crown Signia 2025 Hyundai Ioniq 5 N 2024 Hyundai Santa Fe XRT Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts LA Auto Show Alfa Romeo BMW Hyundai Mazda Toyota Crossover Hatchback SUV Electric Hybrid Luxury Performance Sedan Podcasts

Driving the new Prius Prime, Lordstown goes bankrupt and the march to NACS | Autoblog Podcast # 787

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start the show by talking about the cars they've been driving. Zac spent time in the 2023 Toyota Prius Prime and 2023 Jeep Compass, while Greg chats about his week in the 2023 Cadillac CT5-V and 2023 Hyundai Santa Fe Calligraphy. Next, they hit the news and chat about Lordstown's bankruptcy, Volvo (and others) adopting Tesla's NACS port and the revealed presence of a BMW M5 Touring. Finally, they conclude with the Spend My Money segment where a listener is looking for help finding a new EV or PHEV. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 787 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Toyota Prius Prime XSE Premium 2023 Cadillac CT5-V 2023 Jeep Compass 2023 Hyundai Santa Fe Calligraphy News Lordstown bankruptcy Volvo adopts NACS, and the trend continues A BMW M5 Touring is coming, but will it come here? Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts BMW Cadillac Hyundai Jeep Toyota Volvo Green Automakers Technology Crossover Hatchback SUV Wagon Electric Hybrid Luxury Performance Sedan Podcasts