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Genesis cars win accolades, offer value — so why are sales so bad?

My high-school buddy Brent Cormier was so smitten with the Genesis G80 when he saw it at an event I hosted at SXSW in 2016 he bought a used 2013 Hyundai Genesis a short time later and fell in love with the car. "It surpasses my every expectation," said Cormier, a self-described "renaissance man" who owns and runs a real estate agency with his wife Laura, is a food service executive chef and part owner of Austin-based Thin the Herd Guitars. "I was locked into Mercedes and Audi for 10 years," he added. "And felt trapped in an endless pit of maintenance costs." After owning the Genesis over the past two years — including using it as an Uber and Lyft driver to earn extra cash — Cormier learned what some frugal luxury sedan buyers and a handful of car reviewers have discovered: Genesis offers great bang for the buck compared to other premium brands and can compete with the best in terms of performance, features and comfort. Hyundai's luxury brand also earned a prominent third-party endorsement last week when for the first time Genesis topped J.D. Power's 2018 APEAL study, surpassing German luxury-performance icon Porsche. The APEAL study (which stands for Automotive Performance, Execution and Layout) "measures owners' emotional attachment and level of excitement across 77 attributes," ranging from performance to comfort, and asks nearly 68,000 owners of new 2018 models to score vehicles on a 1,000-point scale. In its second year ranked as a stand-alone brand, Genesis earned an APEAL score that bumped it up 15 points to 884 and helped push it past Porsche — and past BMW, Lincoln, Mercedes-Benz, Audi, Volvo, Cadillac, Land Rover and Lexus, in order of ranking. Last month, Genesis also topped J.D. Power's Initial Quality Survey (IQS) for the first time this year. And both its models were awarded Top Safety Pick Plus ratings by the Insurance Institute for Highway Safety, among 11 Plus ratings in all for Korean vehicles. Despite high J.D. Power rankings and great reviews, Genesis U.S. sales were off 50 percent for the first six months of 2018 compared to 2017, and in June Genesis sold only 796 vehicles — the first time U.S. numbers dropped below 1,000 in a month. Part of Genesis's APEAL and IQS success can be attributed to its small product lineup: just two models, the G80 and G90 sedans, with a third, the 2019 G70, launching later this year. And while those numbers may help in J.D.

Jaguar Land Rover backs Arc startup that sells $100,000 electric motorcycles

Before it even put its first motorcycle on the road, new startup Arc reeled in a major player to back its ambitious product plan. In conjunction with the reveal of the fully electric Vector superbike at the Esposizione Internazionale Ciclo Motociclo e Accessori ( EICMA) show in Milan, Jaguar Land Rover (JLR) announced it is placing capital in Arc, using JLR's investment company InMotion Ventures. Arc claims the Vector is the first all-electric motorcycle with integrated Human Machine Interface (HMI) to come to market. Arc, not to be confused with Keanu Reeve's Arch motorcycle company, has a pretty typical mission statement: "To use progressive design and technology to transform people's relationship with an automative experience. For us, for you, for our planet." At the core, Arc wants to make connected, clean, exclusive superbikes, and the Vector is its first try. Although Arc didn't get into the nitty gritty details about the make-up of the bike, it did give some surface specs and information. The bike's structure is built using a carbon composite to create a "unique Arc battery monocoque." Weight is also kept low using carbon fiber swing arms. There is no mention of the size or type of electric powertrain, but Arc claims it will have a highway range of about 120 miles or a city range of 170 miles on a single charge. Arc says it will be able to sprint from 0 to 60 miles per hour in 2.7 seconds and has a top speed of 124 mph. Stopping power comes from a Brembo brake system, while ride and handling relies on Ohlins dampers. The launch does not stop at the motorcycle, but includes gear, as well. The Vector links up with a jacket and a helmet for a fully connected experience. Partnering with U.K.-based impact protection design company Knox, Arc created the Arc Pilot System. Using audio, the armored Origin riding jacket provides haptic feedback based on numerous riding inputs to help keep the driver safe and aware. Furthermore, Arc linked up with luxury helmet maker Hedon to build the WiFi-connected Zenith helmet that houses an integrated projection heads-up display. In addition to showing things such as speed or battery life of the bike, the helmet uses a built-in rear camera to display other vehicles in the rider's blind spots. The rider can command the system using controls on the bike or via voice commands.

Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.