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Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.

Ex-Hyundai CEO Krafcik joins TrueCar board amidst IPO plans

Former Hyundai Motor America CEO John Krafcik has had a tumultuous year. Last June, he won the Automotive Executive of the Year from DNV Business Assurance. Then in December, he suddenly announced he was stepping down from his leadership role at the Korean automaker on January 1, with some suggesting it was because the company's sales growth was too far below forecasts. Now, it looks like the exec has landed a new role on the board of directors of online car shopping website TrueCar.
According to The Wall Street Journal, Krafcik's role will be to build relationships with automakers and dealers, but the job at TrueCar won't be full time. Since leaving Hyundai, Krafcik has also been doing consulting work in Silicon Valley. "It's helped me understand what I might want to do, full, full time. I am just taking things at the appropriate pace," he said to the Journal.
Krafcik, who is widely considered one of the industry's top executives, took the helm at Hyundai America in 2008 and led it to an increase in sales and market share. He was with the company when it won North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively.

Porsche, Jaguar continue dominance in 2015 JD Power APEAL study

The top of JD Power's 2015 APEAL Study has not changed much in the last year. Porsche remains No. 1 with Jaguar nipping at its heels, although both premium brands saw their overall score fall compared to 2014. For those that need a refresher, the APEAL Study looks at how "gratifying" a vehicle is to own and drive, rating cars and brands on a 1,000-point scale. The industry average for 2015 has increased from 794 to 798, while the total number of automakers that finished above the curve increased from 16 to 20. While Porsche and Jaguar finished at the top, their scores dropped eight and seven points, respectively, to 874 and 855. The top "non-premium" brand was Mini, which scored an impressive 825, up from 795. If the BMW-owned British marque is still a bit too premium for your tastes, last year's non-premium winner, Hyundai, did climb five points and is this year's runner up. At the opposite end of the scale, Smart sits at the very bottom of the rankings, with a score of 683 (it didn't appear on the 2014 rankings). Fiat also dropped, from fourth worst in 2014 to second worst in 2015, despite the 500 being named most appealing city car. Subaru made an impressive climb, from third worst to seventh, falling just 10 points shy of the industry average and two points south of the non-premium average. In the individual vehicle segments, eight brands earned multiple awards, with Ford, Chevrolet, and Porsche earning three apiece. Surprise segment victories included the new Ford Expedition, which beat out Chevy's popular Suburban. The Infiniti QX80 bested the likes of the Cadillac Escalade and Range Rover for best large luxury SUV, and the Dodge Challenger beat its muscle car rivals from Ford and Chevy. Most of the victories, though, were quite predictable. The Mazda6 and CX-5 took wins for the midsize sedan and compact SUV categories respectively, while the Volkswagen Golf captured the compact car win. The Ford F-150 won the large pickup category, while the Porsche Cayman was named most appealing compact premium sporty car. Check out the official release on the 2015 APEAL Study, available below, from JD Power. 2015 U.S. APEAL Study Results The latest safety-related technologies are among the drivers of customer satisfaction with new vehicles, according to the J.D. Power 2015 U.S.