2012 Hyundai Sonata Gls on 2040-cars

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Hyundai Sonata sales drop so Santa Fe production will increase

Hyundai will begin production of the five-seat Santa Fe Sport at its Alabama factory this summer to take advantage of the growing popularity of crossovers in comparison to midsize sedans. The company won't release official production targets for the CUV at the plant, but an anonymous company insider told Reuters Hyundai would build around 30,000 of them at the site this year. The Kia factory in Georgia will continue to handle the majority of Santa Fe Sport production, but the Alabama assembly will help Hyundai keep up with demand. The three-row Santa Fe will still come from South Korea. The Alabama factory has a 400,000-unit annual capacity and already produces the Elantra and Sonata. Sonata sales slipped in 2015 to 213,303 deliveries from 216,936 in 2014. Meanwhile, the volume of both body styles of Santa Fe jumped to 118,134 examples in 2015 from 107,906 the previous year. According to Reuters, Hyundai could have sold more of the CUVs last year, but a limited production capacity restricted the sales. Rumors from 2015 suggested that Hyundai might have had an eye on the plant for additional crossover production in case of falling sales for the sedans built there. The Alabama factory last built the Santa Fe in August 2010. "We're thrilled to bring back another pillar of the Hyundai lineup to our production mix here at HMMA," Chris Susock, vice president of production at the plant, said in the announcement. SANTA FE SPORT PRODUCTION WILL BEGIN AT HYUNDAI MOTOR MANUFACTURING ALABAMA IN SUMMER 2016 ID: 44810 • Additional production will support growing demand in the sport utility segment • Alabama plant is the home of the Sonata and Elantra sedans • Plant is capable of assembling 400,000 units per year MONTGOMERY, Ala., January 7, 2016 –Hyundai Motor Company has announced the addition of the Santa Fe Sport to the production schedule at Hyundai Motor Manufacturing Alabama (HMMA) starting in the summer of 2016. This change will supplement existing U.S. production of the sport utility vehicle to meet the growing demand in this popular vehicle segment. "We're very happy Hyundai has been able to make this change, which will result in more great Santa Fe crossovers available to our dealers and customers," said Dave Zuchowski, president and 'CEO of Hyundai Motor America. "The new production will help us meet the growing demand for one of our most popular products," said Zuchowski.

Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.

Hyundai promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia