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Hyundai NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.

Hyundai-Kia forecasts slowest sales growth in 8 years

Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.

Hyundai readying 708-hp Sonata for SEMA

For the past two years at the SEMA show, the folks at Bisimoto Engineering have taken one of Hyundai's models and tuned it up to levels of power previously unimaginable. It started in 2012 with a 600-horsepower Elantra GT, and they outdid themselves last year with a 1,000-hp Genesis Coupe. This year Bisimoto's tuners are teasing their latest wild creation by starting with a normal 2015 Sonata and turning the wick up to 708 hp thanks to a long list of engine mods. The key in this massive injection of power is taking the regular 2.4-liter Theta-II four-cylinder engine and doing everything necessary so that it can actually withstand so much additional strain. That means introducing forged pistons and connecting rods and an improved valvetrain with new cams, plus a high-boost turbocharger to really up the ante. It's all then mated to a six-speed manual to get things rolling. "After hundreds of hours of testing, failure analysis and prototyping, 18 new products will be engineered and produced in house to produce 708 horsepower from the Sonata," said Bisi Ezerioha, owner of Bisimoto Engineering in Hyundai's release. While it might be pretty cool to find a 708-hp Sonata that looked completely stock at first glance, this is for the SEMA show after all, and it's all about showing off there. So in addition to the huge increase in horsepower, the Hyundai gets a complete aero upgrade, a coil-over suspension and a roll cage inside, in addition to other improvements. At the moment, only the rear of the car is being teased ahead of the November 4 reveal. Until we get to see more, scroll down to read Bisimoto's entire parts list to turn Sonata from a commuter into a racer. HYUNDAI PARTNERS WITH BISIMOTO FOR A THIRD YEAR TO CREATE 708 HORSEPOWER FLEX-FUEL 2015 SONATA 22/09/14 Bisimoto Engineering Focuses on Strengthening and Reliability to Create Most-Powerful Sonata Ever FOUNTAIN VALLEY, Calif., Sept. 22, 2014 – For the third year in a row, Hyundai is partnering with the powertrain gurus at Bisimoto Engineering, this time to create a 708 horsepower Sonata for the 2014 SEMA show in Las Vegas. Bisimoto's team specializes in extracting huge output from Hyundai's engines, like the 1000 horsepower Bisimoto Genesis Coupe that was built for last year's SEMA show. For this year's show, the team is using Hyundai's 2.4-liter "Theta-II" 4-cylinder engine as the starting point for their build.