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Why Toyota's fuel cell play is one big green gamble

Imagine going to the ballet on Saturday evening for an 8 pm performance. The orchestra begins warming up shortly before the show, but it turns out the star performer isn't ready at the appointed time. The orchestra keeps playing, doing its best to keep the audience engaged and, most importantly, in the building. It keeps this up until the star finally shows and is ready to dance ... which turns out to be ten years later. That's a Samuel Beckett play. It's also how many observers, analysts, alt-fuel fans and alt-fuel intenders feel about the arrival of hydrogen fuel cell vehicles (FCVs) – the few of them who are still in the building, that is. Toyota's hydrogen development timeline rivals that of the US space program. In fact, within the halls of Toyota alone, research on FCVs has been going on for nearly 22 years, meaning that one company's development timeline for FCVs rivals that of the US space program – it was 1945 when Werner von Braun's team began re-assembling Germany's World War II V2 rockets and figuring out how to launch them into space and it wasn't until 1969 when a man set landing gear down on that sunlit lunar quarry. The development of the atom bomb only took half as long, and that's if we go all the way back to when Leo Szilard patented the mere idea of it, in 1934. Carmakers didn't give up on hydrogen in spite of the public having given up on carmakers ever making something of it, so there was a good chance that hydrogen criers announcing the mass-market adoption of periodic chart element number two one would eventually be right. Now is that time. And Toyota, not alone in researching FCVs but arguably having done the most to keep FCVs in the news, isn't even going to be first to market. That honor will go to Hyundai, surprising just about everyone at the LA Auto Show with news of a hydrogen fuel cell Tucson going on sale in the spring. The other bit of thunder stolen: while Toyota's talking about trying to get the price of its offering down to something between $50,000 and $100,000, Hyundai is pitching its date with the future at a lease price of $499 per month ($250 more than the lease price of a conventional Tucson), free hydrogen and maintenance, and availability at Enterprise Rent-A-Car if you just want to try it out. We've seen and driven Toyota's offering and we all know its success doesn't depend on cross-shopping, showroom dealing and lease sweeteners.

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.

Hyundai will launch pickup, more SUVs to reverse U.S. sales slide

By Paul Lienert and Hyunjoo Jin DETROIT/SEOUL — Hyundai plans to launch a pickup truck in the United States as part of a broader plan to catch up with a shift away from sedans in one of the Korean automaker's most important markets, a senior company executive said. Michael J. O'Brien, vice president of corporate and product planning at Hyundai's U.S. unit, told Reuters that Hyundai's top management has given the green light for development of a pickup truck similar to a show vehicle called the Santa Cruz that U.S. Hyundai executives unveiled in 2015. Hyundai currently does not offer a pickup truck in the United States. Hyundai also plans to launch a small SUV called the Kona in the United States later this year. People familiar with the automaker's plans said separately that Hyundai plans to launch three other new or refreshed SUVs by 2020. So-called crossovers — sport utilities built on chassis similar to sedans — now account for about 30 percent of total light vehicle sales in the United States. Consumers in China, the world's largest auto market, are also substituting car-based SUVs for sedans. People familiar with Hyundai's plans said the company plans to roll out a new version of its Santa Fe Sport midsize SUV next year, followed by an all-new seven-passenger crossover to replace a current three-row Santa Fe in early 2019 in the United Sates. A redesigned Tucson SUV is expected in 2020, people familiar with Hyundai's plans said. Hyundai's U.S. dealers have pushed the company to invest more aggressively in SUVs and trucks as demand for sedans such as the midsize Sonata and the smaller Elantra has waned, and as Hyundai has announced a shift to electric vehicles. "We are optimistic about the future," Scott Fink, chief executive of Hyundai of New Port Richey, Fla., which is Hyundai's biggest U.S. dealer, said. "But we are disappointed that we don't have the products today." Hyundai's U.S. sales are down nearly 11 percent this year through July 31, worse than the overall 2.9-percent decline in U.S. car and light truck sales. Sales of the Sonata, once a pillar of Hyundai's U.S. franchise, have fallen 30 percent through the first seven months of 2017. In contrast, sales of Hyundai's current SUV lineup are up 11 percent for the first seven months of this year. "Our glasses are fairly clean," O'Brien said.