2014 Hyundai Sonata Gls on 2040-cars

Auto blog

Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

Redesigned 2019 Hyundai Tucson gets modest price bump

Hyundai says its refreshed 2019 Tucson is now hitting showrooms with a starting price of $24,245, including destination charge. That's a $700 bump up from the outgoing model, though Hyundai is currently offering a $2,500 discount on the 2018 model when purchased through Oct. 31, according to its retail website. For 2019, Hyundai gave the midsize Tucson crossover updates inside and out. There are redesigned front and rear fascias, including Hyundai's latest cascading grille, redesigned 17-, 18- and 19-inch wheels, and more advanced safety technology. All trim levels get Hyundai's SmartSense package, which includes forward collision-avoidance assist, lane-keeping assist and driver attention warning. Electronic parking brake with auto vehicle hold and a 7-inch touchscreen with Apple CarPlay and Android Auto integration are standard across all trim levels as well. View 14 Photos The optional 1.6-liter turbo-four engine is gone, replaced by a naturally aspirated 2.4-liter that makes 181 horsepower and 175 pound-feet of torque for the higher SEL, Sport and Limited trims. The base SE and Value trim models get a 2.0-liter four-cylinder that makes 164 hp and 151 lb-ft. Both are mated to a six-speed automatic transmission. Inside, there are new designs for the center stack, cluster, panel vent and leather seats. The range tops out at $32,595 for the Limited with the Unlimited package in front-wheel-drive, or $33,995 for all-wheel-drive. The package adds features including pedestrian detection safety technology, high-beam assist, panoramic sunroof, ventilated front and heated rear seats and smart cruise control with stop and go. Related Video: Image Credit: Hyundai Hyundai Safety Crossover hyundai tucson

Hyundai mulling new Lexus-fighting upscale crossover

The idea of Hyundai marketing a luxury automobile might have seemed ridiculous a decade ago, but that was before the Genesis sedan, Genesis coupe and Equus came along. Now that buyers seem more accustomed to the notion of an upscale Hyundai, the Korean automaker is said to be considering launching a luxury crossover to take on the likes of the Lexus RX and Cadillac SRX.
The report comes from our compatriots at Edmunds, who spoke to Dave Zuchowski, head of Hyundai's North American unit, who said that the project is not yet part of the company's plan, but that "it is something under consideration."
The last time Hyundai entered that territory was with the Veracruz (pictured above), a model that was sometimes compared to but ultimately failed to compete with the Lexus RX when it was sold between 2006 and 2011. The Veracruz was effectively replaced by the seven-passenger Santa Fe with which it shared its underpinnings. This new project being considered would similarly be based on the latest Santa Fe, and the challenge Hyundai is facing once again would be to position it as a sufficiently upscale product to warrant a premium sticker price.