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Hyundai considering upscale Genesis-based crossover

Hyundai already offers upscale entries in its lineup such as the Equus and Genesis (pictured above), but unlike many brands in North America, the company lacks a luxury crossover to further compliment the sedans. The latest signs suggest that hole in the lineup might be filled in the near future, though. According to four, unnamed company insiders speaking to Reuters, the Korean automaker might build a posh CUV on the Genesis' platform. "We are considering developing premium, large SUVs based on customers' needs. We plan to respond to the fast-changing market centered around SUVs by beefing up our SUV line-up," said a statement from Hyundai to Reuters. The idea stems from a proposal last year to pounce on the booming luxury CUV market. However, this strategy doesn't have a green light yet, and it could be years before the crossover sees showrooms. Potentially holding things back is the brand's concern about its power in the luxury market. "We are timid when it comes to bigger SUVs," a source said to Reuters. Hyundai also remembers the struggles of the Veracruz in North America, and the vehicle was eventually replaced by the three-row Santa Fe. Finally, there's a worry that higher gas prices around the time of the proposed debut could be a problem, too. Even if the plans for the luxury model don't pan out, this is hardly the end of Hyundai's upcoming crossover plans. A compact CUV is reportedly under consideration for North America, and there's the much-rumored Santa Cruz unibody pickup potentially on the way, too.

U.S. VP Harris pledges to consult S. Korea over EV subsidy concerns

TOKYO/SEOUL — U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. Among the law's provisions are requirements that EVs be assembled in North America to qualify for tax credits. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner. Harris, visiting Japan, met with South Korea's Han Duck-soo and "underscored that she understood (Korean) concerns regarding the Act's tax incentives for electric vehicles, and they pledged to continue to consult as the law is implemented," the White House said. A senior Biden administration official said extensive conversations have already taken place within the U.S. government over how to address South Korea's concerns. "She listened very carefully and made clear our commitment to work within the U.S. government — the U.S. Trade Representative, the Treasury Department — as we look ... to help address that issue," the official said. Biden has sought to deepen business with South Korea as part of a bid to increase U.S. manufacturing jobs and build a united front against China, who he views as the country's key ideological and economic competitor. Korean officials see the new requirements as a betrayal after South Korean companies agreed to make major investments and build factories in the United States. Heavily industrialized South Korea worries the new subsidies will set back Hyundai Motor Co and its affiliate Kia Corp in the world's largest consumer market. Cars are South Korea's third-largest export. (Reporting by Trevor Hunnicutt in Tokyo, and Soo-hyang Choi and Joyce Lee in Seoul; Editing by Clarence Fernandez and Kim Coghill) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Green Plants/Manufacturing Genesis Hyundai Kia Electric South Korea

Honda, Hyundai and Kia get best word-of-mouth recommendations in US

Forget advertising, incentives and, yes, even our excellently crafted vehicle reviews, sometimes the best way for automakers to sell cars is still good ol' fashioned word of mouth. In an attempt to measure this "word of mouth" power, The Boston Consulting Group, a management consulting firm, has created a new study called the Brand Advocacy Index (BAI). The index takes a look at how various industries perform from person to person. Those industries include automotive, smartphones, grocery, mobile telecommunications and banking.
The study polled more than 32,000 individuals across Europe and in the US to come up with the top 55 brands in these various industries. On the automotive side of things, the top brands in the US were Honda, Hyundai and Kia, all tied at 63 percent. On a global scale, Volkswagen and Toyota scored the highest with a 65-percent BAI rating (both in France). The average BAI for auto industry players tallied 50 percent.
As for companies in other industries, Apple's iPhone was the index's top-rated smartphone, Trader Joe's was the highest recommended grocery store, Virgin was sat atop the mobile telecom industry and USAA was the top retail bank. Scroll down for the full press release on the new study.