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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.

New Genesis G80 costs $2,650 more than its predecessor

If you're in the market for a Hyundai Genesis, you'd best act fast. The Korean company's new luxury sub-brand, Genesis, just announced pricing for the rebadged G80, kicking the starting figure up across the board while adding a suite of desirable safety and tech features. The base model, with a 3.8-liter V6 and rear-wheel drive, starts at $41,400. All-wheel drive adds $2,500 to that figure, while both V6 models add $2,650 to the price of a Hyundai-badged Genesis sedan. Hyundai justifies the increase with a slew of now-standard equipment from the current car's discontinued Tech Package, including automatic emergency braking, blind-spot monitoring with cross-traffic alert, lane keeping assist, lane departure warning, high-beam assist, and adaptive cruise control. Considering the Tech Package tallied $3,500, this is a net win. You can improve your six-cylinder G80 with a pair of packages. A $4,750 Premium Package adds fog lights, a panoramic sunroof, a 14-speaker Lexicon stereo, a seven-inch color instrument display, vented front seats, and a power sunscreen for the rear window. Genesis essentially carried over the current $3,500 Ultimate Package, which now costs $4,200. It includes matte wood, full-color HUD, 9.2-inch touchscreen infotainment, a 17-speaker Lexicon stereo, and a power trunk lid, along with an upgraded power driver's seat, which used to be part of the Tech Pack. If you're hankering for the V8 model – no longer listed on the Hyundai USA consumer page – you're looking at a $650 bump, from $53,850 to $54,550. There are no option packs for the V8, so all you need to do is pick a color and drive away. Not surprisingly, the G80 undercuts its rivals by a few dollars. BMW will happily sell you a base 5 Series for $51,195. Mercedes offers an E-Class, the E300, at $53,075. Audi and Lexus are slightly more down to earth – an Audi A6 is $47,125 while a base GS is $46,595. So, going with the V6 G80 against its all-four-cylinder-turbo competition will save you, on average, around $8,100. That makes the $8,950 in option packs look awfully attractive. The difference between the G80 V8 and its rivals is smaller, but still significantly stacked in Genesis' favor, mainly because only BMW still offers a V8 in this segment – it's $67,295 ($12,745 more than a base G80 V8). Pricing on the US market 2017 E-Class is only available for the 2.0-liter, turbocharged E300, while neither Lexus nor Audi sell a V8 outside their respective high-performance brands.

Hyundai leased 70 Tucson fuel-cell vehicles in first year

Since going on sale in the early summer of 2014, Hyundai has leased around 70 of its hydrogen fuel-cell-powered Tucson CUVs. That's the number that Mike O'Brien, Hyundai's vice president of corporate and product planning, revealed at a green vehicle event in Huntington Beach, CA, this week. There's a reason for the low number, O'Brien said. "Of course, everybody asks 'Why 70?' and it's basically tied to the number of fuel stations that are available," he said. "We were the first to actually pass over ownership of the vehicle, it's not a test program. It helps people put their money on the table, and they lease the car from us and it's their car. The customers that we've leased the vehicle to are ones that live close to a fuel station. "Right now there is less than 10 in the state of California. By the end of this calendar year, there should be in the mid-20s. And then, of course, under Gov. Jerry Brown's $200 million towards construction, I believe about 100 stations [will come online] through the end of the next couple of years. As those stations get built out, we're taking more and more applications for vehicle sales." In January 2014, O'Brien told AutoblogGreen that 88,000 people had expressed an interest in owning a fuel-cell Tucson. O'Brien said that Hyundai needs the customers to be close to a hydrogen station so that driving the car feels similar to what they're used to doing. "We just want to make sure there is a satisfying experience of ownership, and that's the most important thing, to make that their ownership experience matches what they've experienced with a gasoline car," he said. The Hyundai Tucson Fuel Cell can be leased for $499 a month, which includes free refueling. For the 2016 model year, the Tucson FCV gets HomeLink connectivity in the rear-view mirror and two new exterior colors, Hydro Blue and Chromium Silver, in addition to the already available Winter White. 2016 Hyundai Tucson Fuel Cell Continues To Attract Zero-Emissions-Focused Customers With New Colors And Features World's First Mass-Produced Fuel Cell Vehicle Available For $499 per month Lease Includes Unlimited Free Hydrogen Refueling and At Your Service Valet Maintenance FOUNTAIN VALLEY, Calif., May 22, 2015 /PRNewswire/ -- Hyundai's zero-emissions, hydrogen-powered Tucson Fuel Cell vehicle continues to satisfy and attract new customers focused on high-versatility and clean transportation.