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Hyundai announces upcoming Creta sub-compact crossover

The market for subcompact SUVs is booming, and the next automaker to get in on the action will be Hyundai. The Korean automaker has not only announced the imminent arrival of its first subcompact crossover, but has given it a name, as well. Like some of its other crossovers, Hyundai's forthcoming baby high-rider takes its name from a geographical place – but unlike the Tucson and Santa Fe, the discontinued Veracruz, or the conceptual Santa Cruz, that place isn't in North America. The name Creta is derived from the Greek isle of Crete, and is meant to evoke the notion of creativity, says Hyundai. (The marketing team is evidently hoping people don't associate it with the term "cretin" in the process.) The model is slated to launch in India sometime in the second half of this year, but whether it makes its little way to US showrooms remains to be seen. Wherever it is sold, however, the Hyundai Creta will ostensibly take on the likes of the Chevy Trax, Fiat 500X, Jeep Renegade, Mazda CX-3, Nissan Juke and Honda HR-V/Vezel in this burgeoning segment. Hyundai Motor Reveals Name Of New Global Sub-compact SUV: 'Creta' - Creta is the first sub-compact SUV model to be developed by Hyundai Motor - Global launch will start in India, in second half of 2015 June 2, 2015 - Hyundai Motor Company has today announced the name of its first sub-compact SUV: 'Creta'. The global roll-out of this all-new model will start in the second half of 2015 in India. The name 'Creta' derives primarily from the name for Crete, the largest of the Greek islands. Situated in the Mediterranean Sea, Crete was the focal point for Greece's global prowess in trade and culture, in its heyday connecting Europe, Asia and Africa. Creta will be an influential global model for the Hyundai Motor brand in one of the fastest-growing vehicle segments, helping the company to reach out to many more consumers in new and established international markets. Consistent with the core concepts underpinning Hyundai Motor's Modern Premium brand direction – SIMPLE, CREATIVE, CARING – the 'Creta' name is simple and easy to remember. Pronunciation of Creta deliberately evokes welcome similarities with the term 'creative', and draws on positive associations with the Mediterranean island of Crete, which is famed for combining a relaxed and tranquil environment with a vibrant, energetic approach to outdoor activities.

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video:

Sketch teases next-gen Hyundai Elantra

Hyundai is giving us a good look at the next-gen Elantra in a teaser sketch, and the company is overhauling the sedan's styling for the new model. It sports a simple design that's devoid of much ornamentation, and you can just spot the corners of the hexagonal grille up front. The headlights now narrowly squint rather than rising up the fenders. The roof arches gracefully over the passenger compartment for a coupe-like shape, and a crease down the shoulders flows to the taillights, the tip of which you can barely see at the back. Hyundai already confirmed the new Elantra's debut at the 2015 Los Angeles Auto Show in November. A leak earlier this year also purported to show an actual photo of the 2016 model for the Korean market, but that vehicle had a significantly different front end than this one. That rumor also claimed the powertrain range would include a turbocharged 1.6-liter four-cylinder, which makes 175 horsepower and 195 pound-feet of torque in the 2016 Tucson. Sleek All-New Elantra Reveals its Dynamic Impression - Style of All-new Elantra places Hyundai Motor compact sedan in a class of its own - Appealing active character lines and creatively designed wheel arches August 19, 2015 – Hyundai Motor is excited to provide customers a glimpse of the forthcoming All-new Elantra's modern looks and unique design ahead of the car's launch just around the corner. The new model's dynamic and sleek style received the approval of a recent consumer study, where the Elantra's striking appearance saw it ranked ahead of key rivals. Designers of the All-new Elantra identified a series of innovative design aspects that give the car an unrivalled status and unique presence. Clever use of active character lines evoke a dynamic, stylish and confident appearance, building on the global popularity of the model. Peter Schreyer, President and Chief Design Officer at Hyundai Motor Company said: "The All-new Elantra captures the car's unique design characteristics that really place this model in a class of its own. The subtle and innovative appearance enhancements reflect Hyundai Motor's vision for design. Furthermore, this car indicates a move from traditional to modern styling by communicating the new model's comfort, fashion and sporty feel." In the newly released exterior rendering, the car's innovative design points become clear.