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Hyundai, union reach tentative labor deal
Thu, 05 Sep 2013According to Reuters, South Korea's labor unions may have reached a tentative deal with Hyundai following a compromise between the two sides on wages. Workers have staged a number of stoppages since August 20, which have cost the South Korean giant 1.02 trillion won - around $1.1B US. It also represents just over 50,000 units of production. That vehicle total sounds like a lot, but it's a small enough figure that Hyundai can apparently catch up with weekend and overtime shifts. We'd wager that this is why US inventories haven't been hit quite so hard aside from the battering already taking place. The proposal will now go before the union's rank and file.
If ratified, the new agreement will see workers getting a 5.14-percent raise in base salaries, along with 8.5-million-won (roughly $7,800) bonuses. Those concessions are a far cry compared to what the union was initially demanding, though. Early proposals included a 56.25-gram gold medal for each employee (worth about $2,400) and a 10-million won bonus (about $9,100) for employees whose children chose not to attend college. The union also sought a bonus worth two months' salary for workers that have been with the company for over 40 years, but this was negotiated down to a flat rate of six-million won ($5,464).
Based on Reuters' report, the work stoppages must have taken a real toll on Hyundai - its domestic sales dropped 20 percent last month, while exports were down nine percent. Those startling figures must have put some fire under the Hyundai bargaining team.
Hyundai's bizarre pooping robot baby pitches new Sonata
Sat, Dec 20 2014There are certainly some very weird auto ads out there, but a new challenger is entering the ring with Hyundai's absolutely bizarre Exobaby commercial for the latest Sonata. Blending inspiration from the video game Mega Man, the classic 1970s TV show The Six Million Dollar Man and a waking nightmare, Exobaby falls very deeply into the uncanny valley. Its proportions and movement come off as just slightly distorted, and the result is a baby that's more creepy than cute for this ad. Things get even odder just a few seconds in when the robo-toddler poops. Ostensibly, the Exobaby ad is supposed to show off all of the high-tech features on the Sonata, but many viewers are just going to be left trying to figure out what they're watching. If you need just over a minute of weird advertising to lift your day, then this Hyundai commercial must be seen. Related Gallery 2015 Hyundai Sonata News Source: HyundaiWorldwide via YouTubeImage Credit: Related images copyright Hyundai Marketing/Advertising Weird Car News Hyundai Videos Sedan car ads
Hyundai mulling new small CUV under Tucson
Wed, 17 Jul 2013Hyundai maintains it can barely build enough of its core models to satisfy North American consumers, but that doesn't mean it isn't keen to expand its offerings to capture developing segments of the market. According to Edmunds, one of those expanding niches could be the burgeoning subcompact crossover segment. The website quotes Hyundai North America president and CEO John Krafcik as acknowledging his company is "very under-represented" in crossovers, the market's hottest vehicle type.
With the discontinuation of the Veracruz, Hyundai is down to two CUV nameplates, Tucson (pictured) and Santa Fe, the latter of which covers two segments with a two-row Sport and long-wheelbase three-row model. And while Hyundai commands seven percent of the US sedan market, the company estimates it only has two percent of the truck segment.
And while Krafcik stops short of confirming a new model, he acknowledges "a new segment is emerging" underneath the Tucson and says, "I think it's something to look at." At the moment, the subcompact softroader segment remains small and somewhat amorphous, with tiny CUV offerings like the Buick Encore, Nissan Juke, and now-discontinued Suzuki SX4 illustrating that there are a lot of different ways to package and market such a vehicle.