2014 Hyundai Sonata Gls on 2040-cars

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Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.

Business booming for Hyundai in 'Bama, new production record set

Although it may be a distinction of mild importance on a global scale, Hyundai announced that last month it set an all-time sales record for the month of April. Digging a little deeper, Hyundai-Blog - an enthusiast site not affiliated with the South Korean automaker - is reporting that another record was set: to go along with 63,315 total sales in April, Hyundai Motor Manufacturing Alabama assembled a record 37,372 Elantra and Sonata sedans.
This doesn't mean that half of Hyundai's April sales came from the Montgomery, AL plant, but it's still a telling sign of just how important this new factory is. The Elantra and Sonata are by far Hyundai's most popular models, accounting for almost 63 percent of all Hyundai sales so far in 2013. Congrats on the achievement, Hyundai.

Driving the Chevy Corvette Z06 and Porsche 911 Carrera T | Autoblog Podcast #551

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Snyder and Associate Editor Joel Stocksdale. We talk about the wide variety of the cars we've been driving, starting with the Chevrolet Corvette Z06 and Porsche 911 Carrera T. Then we discuss the more powerful 2019 Mazda MX-5 Miata, our long-term Honda Ridgeline and our week with the Hyundai Ioniq PHEV. Finally with Pebble Beach on our minds, we preview the Concours d'Elegance.Autoblog Podcast #551 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevrolet Corvette Z06 2018 Porsche 911 Carrera T 2019 Mazda Miata 2018 Honda Ridgeline 2018 Hyundai Ionic Plug-In Hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: