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Hyundai previews new Creta crossover in first design sketch

It was barely a week ago that Hyundai announced the name of its upcoming subcompact crossover, the Creta. And now the Korean automaker has released the first sketch. The design bears obvious links to the larger Santa Fe (which was just unveiled in facelifted form) and the new Tucson (unveiled in Geneva), particularly at the front end with its angular eyes and trapezoidal grille. Hyundai promises "a bold front, voluminous side, [and] sporty rear," with a hidden A-pillar and an overall "premium look." Called the Creta, the new small crossover is set to take on the likes of the Nissan Juke, Mazda CX-3, Jeep Renegade, and others in an increasingly vital, growing, and competitive segment. HYUNDAI MOTOR UNVEILS FIRST RENDERING OF CRETA SUB-COMPACT SUV Hyundai Motor Company today unveiled its first rendering of the upcoming Creta, sub-compact SUV. The design of Creta follows a premium look, based on Hyundai Motor's evolved design philosophy. Harmony between a bold front, voluminous side, sporty rear and other details complete the premium sub-compact SUV design. Creta with its bold and glamorous looks feature singular hexagonal radiator grille, sleek profile and a stable stance. The hidden A-pillar was applied to grant a unique and dynamic image, hinting at an open and airy cabin. Related Video:

Hyundai, union reach tentative labor deal

According 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 promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia