2006 Hyundai Sonata Gls on 2040-cars

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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.

Autoblog Podcast #391

Episode #391 of the Autoblog Podcast is here, and this week, Dan Roth, Mike Harley and Brandon Turkus talk about the appointment of Kumar Galhotra to run Lincoln, changes coming for Scion, the Dodge Charger SRT Hellcat, and which cars won't live into 2015. We also take a quick detour to talk about the Infiniti Q50 Eau Rouge prototype, which Mike Harley just came back from driving. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #391: Topics: 2015 Infiniti Q50 Eau Rouge Prototype New boss at Lincoln Scion xB, iQ ending soon Dodge Charger SRT Hellcat Cars that won't live to 2015 In the Autoblog Garage: McLaren 650S Hyundai Genesis Hosts: Dan Roth, Michael Harley, Brandon Turkus Runtime: 01:42:06 Rundown: Intro and Garage - 00:00 Infiniti Q50 Eau Rouge - 30:05 Kumar Galhotra to Lincoln - 34:32 Scion Changes - 43:58 Dodge Charger Hellcat - 54:25 Discontinued Cars - 01:06:24 Q&A - 01:22:59 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Hirings/Firings/Layoffs Podcasts Dodge Hyundai Infiniti Lincoln McLaren Scion Supercars mclaren 650s

Hyundai pulls motorsports in US, parts ways with Rhys Millen Racing

Automakers don't necessarily undertake racing programs in proportion to their size. A company like Ferrari or McLaren, for example, may be small, but their racing programs are huge. The inverse could be said of a company like Hyundai, which has grown to rank among the largest automakers in the world, but has traditionally maintained a relatively short reach when it comes to racing. And now it's getting even smaller as the company is shutting down its entire motorsport program in the United States. Not that the program was that big to begin with in the first place. Although Hyundai recently launched a factory effort in the World Rally Championship, in North America its competition activities revolved essentially around Rhys Millen Racing, the California-based outfit with which the Korean automaker has tackled Pikes Peak, Formula Drift and the Global RallyCross Series – the latter of which Millen describes as "arguably the fastest most exciting form of racing to hit the US in years." But now Millen has announced that Hyundai has withdrawn from their partnership that has stood for six years. Without support from the automaker, Rhys Millen is putting up his Hyundais for sale or rental to any privateer team interested in getting in on the RallyCross action, while the team looks for a new partner with which to move forward. As for Hyundai, it seems the automaker may have stretched its motorsport budget a little thin with the WRC effort, on which it will now apparently rely to establish its racing cred. We reached out to Hyundai for clarification on its future motorsport plans in America, but representatives weren't immediately available for comment. We will update this story when and if we hear back.