2012 Hyundai Azera Base on 2040-cars

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Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

Asian automakers still reluctant to use more aluminum

There's a logical progression of technology in the auto industry. We've seen it with things like carbon-ceramic brakes, which use to be the sole domain of six-figure sports cars, where they often cost as much as an entry level Toyota Corolla. Now, you can get them on a BMW M3 (they're still pricey, at $8,150). Who knows, maybe in the next four a five years, they'll be available on something like a muscle car or hot hatchback. Aluminum has had a similar progression, although it's further along, moving from the realm of Audi and Jaguar luxury sedans to Ford's most important product, the F-150. With the stuff set to arrive in such a big way on the market, we should logically expect an all-aluminum Toyota Camry or Honda Accord soon, right? Um, wrong. Reuters has a great report on what's keeping Asian manufacturers away from aluminum, and it demonstrates yet another stark philosophical difference between automakers in the east and those in the west. Of course, there's a pricing argument at play. But it's more than just the cost of aluminum sheet (shown above) versus steel. Manufacturing an aluminum car requires extensive retooling of existing factories, not to mention new relationships with suppliers and other logistical and financial nightmares. Factor that in with what Reuters calls Asian automaker's preference towards "evolutionary upgrades," and the case for an all-aluminum Accord is a difficult one. Instead, manufacturers in the east are focusing on developing even stronger steel as a means of trimming fat, although analysts question how long that practice can continue. Jeff Wang, the automotive sales director for aluminum supplier Novelis, predicts that we'll see a bump in aluminum usage from Japanese and Korean brands in the next two to three years, and that it will be driven by an influx of aluminum-based vehicles from western automakers into China. Only time will tell if he's proven right. News Source: ReutersImage Credit: Sean Gallup / Getty Images Plants/Manufacturing Honda Hyundai Mazda Nissan Toyota Technology aluminum

2015 Hyundai Sonata cheaper than last year, starts at $21,150*

Prices for the 2015 Sonata range from $21,150 for the 2.4-liter SE to $33,525 for the 2.0-liter, turbocharged Sport 2.0T.
The arrival of a new generation of a successful car is usually accompanied by a small surge in its price, ranging from a few hundred to a couple thousand dollars. Hyundai, though, is eschewing that practice, delivering its heavily redesigned Sonata for less than its predecessor. It's only a $300 difference over last year's base model, the Sonata GLS, but we don't think the savings will be lost on consumers. The move is part of a larger reshuffling of the Sonata line. The outgoing GLS trim has been replaced by the SE as the base car, while the 2.4-liter engine can now be ordered with the Sport trim. Meanwhile the 2.0T Sport is both the sole turbocharged offering, and tops off the Sonata pricing hierarchy.