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John Krafcik stepping down as Hyundai CEO, replaced by VP of sales

Hyundai Motor America has announced that its affable president and CEO, John Krafcik, will be stepping down from his post on January 1, at the completion of his contract. He'll be replaced by the current executive vice president of sales, David Zuchowski.
Krafcik has helmed Hyundai through a product renaissance that's seen the Korean automaker go from budget afterthought to household name in less than a decade, launching stylish new models and expanding into new markets. "On behalf of Hyundai Motor Company, we sincerely thank John for his visionary leadership and relentless pursuit of customer satisfaction, which has driven Hyundai's record growth over the past five years," said Im Tak Uk, the COO and executive vice president of HMA's parent company, Hyundai Motor Company.
"It's been a sincere privilege and honor to lead Hyundai Motor America over the past five years, and I am confident that with Dave's succession, our brand will continue to expand and thrive for years to come," said Krafcik in a Hyundai press release, available below. "We have many of the best and brightest employees in the business coupled with a committed and talented dealer network that will continue to pay dividends."

Hyundai NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.

US Congress lets $8,000 hydrogen vehicle tax credit expire

When Toyota introduced the 2016 Mirai last month in preparation for a launch late next year, it said that the hydrogen car will have a $57,500 MSRP and that there will be a federal tax credit available worth up to $8,000. The problem, as we noted at the time, is that that federal credit was set to expire at the end of 2014. The technical language of the current rule says that someone who buys a fuel cell vehicle, "may claim a credit for the certified amount for a fuel cell vehicle if it is placed in service by the taxpayer after Dec. 31, 2005, and is purchased on or before Dec. 31, 2014." With the 113th Congress now finished up for the year and legislators headed home for the holidays, we know one thing for certain: the federal tax credit for hydrogen vehicles was not updated and will end as we're all singing Auld Lang Syne next week. All of this isn't to say that Mirai buyers won't be able to take $8,000 off the price of the car 12 months from now. For proof of that, we only need to look at other alternative fuel tax incentives and realize that this Congress simply isn't moving fast enough to deal with things that are expiring right now. One of the last things that the 113th Congress did in December was to take up the tax credits that expired at the end of 2013 and renew some of them. Jay Friedland, Plug In America's senior policy advisor, told AutoblogGreen that PIA and other likeminded organizations worked with Congress to extended the electronic vehicle charging station (technically: EVSE) tax credit that was part of the Alternative Refueling Tax Credit in IRS Section 30(C) through the end of 2014. "Individuals can deduct 30 percent of the cost of purchasing and installing an EVSE up to $1,000; businesses, 30 percent up to $30,000," he said. "This tax credit is applied to any system placed into service by 12/31/14 and is retroactive to the beginning of the year. So go out and buy your favorite EV driver an EVSE for the holidays," he said. An electric motorcycle credit was killed at the last minute as Congress was getting ready to leave, but H.R. 5771 did extend the Alternative Fuels Excise Tax Credits for liquefied hydrogen and other alternative fuels. These sorts of tax credit battles happen all year long. In July, Blumenthal introduced the Fuel Cell and Hydrogen Infrastructure Act of 2014, which never got out of the Finance Committee. Back to the hydrogen vehicle situation.