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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

2014 Hyundai Accent gets updated styling, added convenience features

Integrated blind-spot mirrors are hardly a luxury item, but they're one of the simplest yet most welcome equipment developments we've seen in some time, and we're glad to see them beginning to spread throughout the industry's offerings. The 2014 Hyundai Accent is the latest car to get them, along with a host of other new features.
Chief among the changes to Hyundai's entry-level offering are new projector headlamps that combine LED accents with a welcome-light function, along with an available B&M Racing sport shifter on the five-door SE hatchback. Other small-but-useful standard-equipment updates include triple-flash turn signals and sliding sun visors, while uplevel SE models are treated to a tilt/telescope steering wheel, updated audio system with improved ergonomics and voice recognition, auto-up driver's side window and the aforementioned upgraded projector headlamps.
Mechanically speaking, the Accent appears unchanged, with the sole engine offering consisting of Hyundai's well-regarded 1.6-liter Gamma four-cylinder delivering 138 horsepower and 123 pound-feet of torque to go along with its fuel economy ratings of 27 miles per gallon city and 38 highway.