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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.

Hyundai recalling 15,500 Entourage minivans over rust in cold-weather states

Hyundai has increased its quality by leaps and bounds in recent years, but we're not sure the Entourage minivan is the best representation of the brand. Essentially a rebadged version of the Kia Sedona, the Entourage has been out of production for about five years now, and it's evidently run into some trouble.
The problem apparently revolves around the suspension - specifically the front lower control arm - which could rust and fracture, particularly in snow-belt states. As a result, Hyundai and the National Highway Traffic Safety Administration have issued a recall for the Entourage from the 2007 and 2008 model years, the only two years it was sold in the United States.
The recall applies to some 15,500 units sold or registered in Massachusetts, Maryland, Michigan, New Hampshire, New York, Pennsylvania, Vermont, Wisconsin, Connecticut, Delaware, Iowa, Illinois, Indiana, Maine, Minnesota, Missouri, New Jersey, Ohio, Rhode Island, West Virginia and the District of Columbia. Hyundai will notify owners as to when they should bring their vehicles in for inspection before either rustproofing or replacing the components in question. What's interesting, however, is that the nearly identical Kia Sedona has not been subject to the same recall.

Hyundai Sonata successor to seek evolution, not revolution

Hyundai hit a home run with its current-generation Sonata midsize sedan, so don't expect the Korean automaker to make revolutionary changes when its replacement comes out for the 2015 model year. The four-door sitting in showrooms today was launched in 2010 with radical new lines that marked a big departure from its rather bland predecessor. Even with stiff competition from the Honda Accord, Ford Fusion and Toyota Camry - all newer designs than the Sonata - sales have been strong. Consumers embraced its new design language, taking home a record 230,605 units last year.
"I think we found a design language that works, the 'Fluidic Sculpture' stuff, so I would say (the new styling) is not pulling back in any way. It's more continuing to refine on that same trajectory that we're on," John Krafcik, Hyundai U.S. CEO, told WardsAuto in a recent interview. Consumers don't seem to be fazed by the its age either. "A lot of consumers are just entering (the) midsize (segment) for the first time. They don't see (the Sonata) as a three-year-old car. They see it as, 'Whoa, that's a pretty good-looking midsize car,' so it's doing quite well," added Krafcik.
Sonota sales have been down over the last few months, but Krafcik says that is a reflection of the automaker's decision to increase production of its Elantra compact at the Montgomery, Alabama, plant - where both are built - and a limited supply of its mid-grade GLS Sonata model.