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Hyundai pulls motorsports in US, parts ways with Rhys Millen Racing

Automakers don't necessarily undertake racing programs in proportion to their size. A company like Ferrari or McLaren, for example, may be small, but their racing programs are huge. The inverse could be said of a company like Hyundai, which has grown to rank among the largest automakers in the world, but has traditionally maintained a relatively short reach when it comes to racing. And now it's getting even smaller as the company is shutting down its entire motorsport program in the United States. Not that the program was that big to begin with in the first place. Although Hyundai recently launched a factory effort in the World Rally Championship, in North America its competition activities revolved essentially around Rhys Millen Racing, the California-based outfit with which the Korean automaker has tackled Pikes Peak, Formula Drift and the Global RallyCross Series – the latter of which Millen describes as "arguably the fastest most exciting form of racing to hit the US in years." But now Millen has announced that Hyundai has withdrawn from their partnership that has stood for six years. Without support from the automaker, Rhys Millen is putting up his Hyundais for sale or rental to any privateer team interested in getting in on the RallyCross action, while the team looks for a new partner with which to move forward. As for Hyundai, it seems the automaker may have stretched its motorsport budget a little thin with the WRC effort, on which it will now apparently rely to establish its racing cred. We reached out to Hyundai for clarification on its future motorsport plans in America, but representatives weren't immediately available for comment. We will update this story when and if we hear back.

Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

Hyundai will add smaller crossovers and make the Santa Fe and Tucson bigger

At the LA Auto Show, Hyundai North American CEO Dave Zuchowski detailed plans to change the all-important crossovers in the company's lineup to better suit the ravenous tastes of American CUV shoppers, Automotive News reports. There are two important aspects: up-sizing existing crossovers, and introducing new small crossovers beneath them. With regard to the first part, Zuchowski said that the Santa Fe and related Santa Fe Sport will both grow in size, and differentiate from each other – which is good, because consumers are generally confused about how the five-seat Sport relates to the seven-seat Santa Fe. In the future, the regular Santa Fe will grow to become an eight-seat crossover, and the Sport will also grow and be redesigned as a more rugged-looking Jeep competitor, AN reports. Along those lines, Zuchowski says the company will change the name of the Santa Fe Sport to reduce confusion and better communicate its market position. The Tucson will grow a bit, but won't be significantly reimagined. The report also indicates that Hyundai also plans on introducing a B-segment crossover in 2018 – that is to say, a competitor to vehicles like the Honda HR-V and Jeep Renegade. We had previously reported that a B-segment crossover was on the way but didn't have timing. Further down the road, an even smaller A-segment crossover will be introduced. These new vehicles will be on sale by 2020, as will the revised Santa Fe and Tucson lines. Related Video: