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Hyundai rehires R&D president let go over quality issues

Last November, Hyundai announced the resignations of research and development president Kwon Moon-sik and two other R&D executives. At that time, it was said that the executives wished to "take responsibility for a series of quality issues" at the Korean automaker. Kwon Moon-sik had only been in the position for a year, but some of the quality issues thought to have caused the resignations included recalls of the Genesis and other sedans around the world, along with the company's much-publicized fuel economy overstatement controversy - both of which dealt with matters that transpired before Moon-sik took his position. In its statement at the time, Hyundai said, "The latest personnel change shows our firm commitment to quality management and reaffirms our will to continuously improve R&D competitiveness."
Three months later, Reuters is reporting that Moon-sik is back with the company, a statement announcing the rehire saying, "Given his expertise, experience and leadership skills, we reinstated president Kwon to enhance quality and R&D capability from scratch." Company chairman Chung Mong-koo is said to have a reputation for firing then rehiring workers, and it's possible this rehire is especially timely because Hyundai will bring its new Sonata to market this year and likely wants its experienced R&D captain at the wheel.
The man who had taken Moon-sik's position has returned to his previous post as head of powertrain development. However, in another surprise resignation, the head of Hyundai's design center, Oh Sug-geun, has left the company for "personal reasons." He has been replaced by Lee Byung-seob, who moves up from his position as head of exterior design.

Hyundai New Generation i20 WRC previews next year's rally weapon

With just three events left in the 2015 World Rally Championship season, Hyundai Motorsport is sitting in second place in the teams' championship behind Volkswagen Motorsport. The South Korean company is already looking forward to next season, though, when it debuts a new WRC car based on the latest i20. Those attending the Frankfurt Motor Show are getting a preview of the future rally machine in a pristine racing livery ahead of hitting the dirt. Dubbed the New Generation i20 WRC, the car replaces the current i20-based rally car. The competition-spec body sports some big, boxed fenders at the front and rear, and the double-decker wing looks great at the back. Hyundai claims that the latest version also has better aerodynamics, a more efficient powertrain, and improved weight distribution. It's still undergoing rigorous testing and debuts at the Rally Monte Carlo next year. The racer was originally supposed to be based on the latest three-door i20, but a delay caused the five-door body to become the basis for the machine. Beyond the aggressive shape, some of the most obvious visual touches on the New Generation i20 WRC are the massive N logo in the grille and smaller badges on the fenders and wheels. These are supposed to denote the rally car's connection to Hyundai's freshly launched performance sub-brand. The company claims that the lightweight materials, engine tech, tight handling, and aero bits developed for its racers could find their way to the road through these upcoming vehicles. Hyundai Motor Reveals Passion for High Performance with N Sub-brand at Frankfurt Motor Show • Hyundai Motor's high performance sub-brand N takes center stage at the 2015 Frankfurt Motor Show • A preview of the New Generation i20 WRC car is presented alongside N performance concepts • A vision of high performance technology in Hyundai vehicles is shown with two dynamic concepts – RM15 and Hyundai N 2025 Vision Gran Turismo • Hyundai N Bobsleigh 2016, developed for the Korean national bobsleigh team, is displayed at the Motor Show September 15, 2015 - Hyundai Motor, the fastest growing automaker by brand value, showcases its high performance sub-brand N at the 2015 Frankfurt International Motor Show. Built on the foundation of the company's intensive product development and motorsport experiences, Hyundai N ultimately aims to bring 'the most thrilling winding road fun' to customers who truly love cars.

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video: