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South Korea assists auto industry struggling with coronavirus fallout

SEOUL —  South Korea said on Monday it would provide logistical and financial support to help its auto industry through the coronavirus crisis, warning of disruptions to supply chains from Europe and the United States. The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support for the industry, which employs about 12% of South KoreaÂ’s workforce, according to official figures. The coronavirus pandemic has led to shutdowns at auto factories and dealerships in the United States and Europe, which are expected to affect South Korean automakers such as Hyundai and Kia. “ItÂ’s time to prepare for the shock of a global demand contraction and European supply issues,” Industry Minister Sung Yoon-mo said in a meeting with parts supplier executives and industry associations, according to a readout from the ministry. “Survival is the most crucial thing in this unprecedented crisis when both demand and supply contract at the same time.” The ministry gave no details on how much liquidity support the government would provide or what form it might take. The assistance is part of 50 trillion won ($39 billion) in emergency financing announced last week to boost the economy. South Korea has reported 8,961 coronavirus cases and 110 deaths from the disease. Hyundai Motor closed its Montgomery, Alabama, assembly plant on Wednesday after an employee there tested positive for COVID-19. It also suspended production at its plants in the Czech Republic and India due to the coronavirus outbreak. Europe and the United States account for about 70% of Korean automakersÂ’ exports, and 54% of Korean parts exports, government data showed. A trade ministry official said South Korean exports would deteriorate in April and May, after rising 10% year-on-year in the first 20 days of March. Car exports rose 13.7% in the period, customs agency data showed on Monday. “For the time being, a drop in exports of cars and auto-parts are inevitable as car factories and dealerships are closing,” Sung said. South Korean automakers had stocked up on inventories which could last up to two months, Sung said. Related Video: Earnings/Financials Government/Legal Plants/Manufacturing Hyundai Kia coronavirus

Hyundai, Kia, Genesis and Subaru clean up in IIHS 2018 safety ratings

Hyundai, its partner Kia and its Genesis division are the big winners in the latest vehicle safety ratings from the Insurance Institute for Highway Safety, accounting for six of the 15 models that earned the Top Safety Pick+ awards for 2018. Subaru was right behind with four, Mercedes-Benz had two, and Toyota, BMW and Ford each had one. Another 47 vehicles earned the Top Safety Pick designation, where Toyota had 10 vehicle models, with Hyundai recognized for nine models. All but one of the seven vehicles in Subaru's lineup, the BRZ, qualified for one of the awards. IIHS strengthened the criteria for the Top Safety Pick+ award for 2018 to require headlights to earn a "good" rating — an "acceptable" rating was previously enough to notch the "plus" award — and good or acceptable passenger-side protection in the small overlap front crash, which replicates a crash involving just the front corner of a vehicle. It also required vehicles to have acceptable or good headlights for the first time to earn a Top Safety Pick award. Most of winners for both awards qualified on the basis of optional upgrades. IIHS in October began evaluating the passenger side of vehicles in its small overlap front crash test after it said it became clear that automakers were neglecting that side of the vehicle as they focused on improving driver-side protections. IIHS first began conducting driver-side small overlap crashes in 2012. It began measuring both how well low and high beams illuminated the road and the amount of glare they produce for oncoming vehicles as part of its ratings in 2016. The Top Safety Pick+ winners are listed below. The list doesn't include any minivans, pickups or minicars, which don't appear on either list of awardees. Small cars Kia Forte Kia Soul Subaru Impreza (sedan and wagon) Subaru WRX Midsize cars Subaru Legacy Subaru Outback Toyota Camry Large luxury cars BMW 5 series Genesis G80 Genesis G90 Lincoln Continental Mercedes-Benz E-Class sedan Midsize SUVs Hyundai Santa Fe Hyundai Santa Fe Sport Midsize luxury SUV Mercedes-Benz GLC The full list of Top Safety Pick winners is available here.Related Video: Image Credit: IIHS BMW Genesis Hyundai Kia Lincoln Subaru Toyota Safety Crossover SUV Wagon Sedan crash test

2018 Hyundai Accent packs compact car style in a subcompact

Hyundai's smallest American offering, the Accent, has undergone a thoroughly substantial redesign. The result is a subcompact sedan that's slightly wider and slightly longer, and looks very much like its larger Elantra sibling. The Elantra's hexagonal, slatted grille, headlight shape, and greenhouse have all been scaled down to the Accent's smaller body. Even the taillights echo the pattern of those on the Elantra. Fortunately, the proportions weren't thrown off in the shrinking process, so the Accent is a reasonably handsome, if slightly conservative, sedan. The new Accent also sports a rather spiffy interior, at least with the red and black upholstery shown. That particular color combo wouldn't look out of place in an Elantra Sport. The dash itself isn't particularly remarkable, but it looks attractive enough and fairly straightforward. It also features a 7.0-inch touchscreen with which the occupants can use Apple CarPlay or Android Auto. The seats can also be had with heaters. Hyundai touts automatic emergency braking as an available safety option. Mechanically, the big news comes in the form of chassis rigidity improvements. Hyundai says the new Accent is 32 percent stiffer, thanks in part to more high-strength steel. Under the hood is an updated 1.6-liter direct injection four-cylinder that makes 132 horsepower and 119 lb-ft of torque. This is a bit surprising, as the output is slightly less than that of the outgoing model. On the flip side, Hyundai claims this engine is 7 percent more fuel efficient, and that low-rpm torque has been improved. Plus, 132 horsepower is on par with competitors, and buyers who want to make the most of it have the option of a six-speed manual. A six-speed automatic is available, too. Pricing hasn't been announced for the new Hyundai Accent, but the sedan will show up at dealers during the third quarter of this year. The hatchback version, which has yet to be shown, will arrive in the fourth quarter of 2017. Related Video: