2013 Hyundai Veloster Turbo Hatchback 3-door 1.6l on 2040-cars

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Hyundai sees tough year ahead, plans to introduce 13 new models

SEOUL — South Korea's Hyundai Motor Group predicted another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers. It missed a boom in sports utility vehicles (SUVs), faces potential U.S. tariffs and a U.S. investigation over how it handled a vehicle recall, and lost ground in technological advances such as self-driving cars. "Business uncertainties are heightening as the global economy continues to falter. Walls of protectionism are being constructed around the world," Chung, 48, told hundreds of employees at the group's headquarters in Seoul. "Internally, we face challenging tasks such as stabilizing business in major markets like the U.S. and China, while simultaneously enhancing our responsiveness to drive future growth." Hyundai and Kia — together the world's fifth-biggest automaker — set what they called a "conservative target" of 7.6 million vehicle sales in 2019, a 3 percent increase from the 7.399 million vehicles sold last year. The 2018 sales fell short of the group's target of 7.55 million vehicles, marking its fourth consecutive annual sales goal miss. The duo sold 7.25 million vehicles in 2017. Morgan Stanley expects global auto production to fall 1 percent in 2019, the first drop in nine years. In that environment, the group said it would launch 13 new or face-lifted models in 2019, including a premium Genesis SUV, the big Hyundai Palisade SUV and the Sonata sedan. "Hyundai will be launching new models, but competitors will be also doing so, making it difficult for Hyundai to increase shares in the sluggish markets in China, U.S. and Europe," said Sean Kim, an analyst at Dongbu Securities. Hyundai shares ended down 3.8 percent and Kia slumped 2.7 percent, while the wider market <.KS11> was down 1.5 percent.

Hyundai finally settles inflated fuel economy claims lawsuit for $41.2 million

Remember when Hyundai and Kia changed their claimed fuel economy numbers for a bunch of models? That happened back in 2012, and Hyundai has finally settled a lawsuit concerning the economy adjustment with a payment of $41.2 million. The lawsuit was filed by 33 state attorneys general, as well as one from Washington D.C. Each state will decide how to use its money from the settlement. According to Hyundai, this settlement was an "amicable agreement," and the company also denies any wrongdoing in changing claimed fuel economy numbers. Hyundai also reports that the agreement was reached, in part, due to the reimbursement program instituted after the economy adjustment. This program allows owners to be reimbursed the extra fuel cost, with payments determined by miles driven. The payments are sent after an owner has an affected car's odometer checked by a dealer. In addition, Hyundai also offered lump-sum payments as an option after the results of a class-action lawsuit. So far, the company reports about 75 percent of eligible owners have participated in the program. This isn't the only major payment Hyundai has made concerning the fuel economy issue. In 2014, Hyundai paid roughly $300 million in fines to the EPA. The company was also sued for inflated fuel economy claims in South Korea. In the US, models affected by the adjustment include the Hyundai Santa Fe, Accent, Veloster, Sonata Hybrid, Tucson, Genesis and Azera, along with the Kia Soul, Rio, Sorento, Sportage and Optima. Related Video: Image Credit: Patrick T. Fallon/Bloomberg via Getty Images Government/Legal Green Hyundai Kia

Editors’ Picks July 2022 | Volvo XC60, 911 GT3 and a hot Hyundai

This latest rendition of Editors’ Picks sees us recognize some enthusiast-focused vehicles on both sides of the price spectrum and a luxury SUV. The 911 GT3 was an easy shoo-in, but the Hyundai Elantra N is what surprised us the most. WeÂ’re sad to see the Veloster N bow out after this year, but at least the N model in its place is a worthy one. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get EditorsÂ’ Pick status. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in July that earned an EditorsÂ’ Pick. 2022 Volvo XC60 2022 Volvo XC60 Recharge View 36 Photos Quick take: The Volvo XC60 is one of our favorite luxury crossovers, and the PHEV option is a killer setup. We dig the interior design, and the exterior is attractively Swedish, too. Score: 7.5 What it competes with: Alfa Romeo Stelvio, Genesis GV70, Jaguar F-Pace, BMW X3, Mercedes-Benz GLC-Class, Audi Q5, Lexus NX, Acura RDX, Volvo XC60, Lincoln Corsair, Infiniti QX50, Porsche Macan Pros: Great design, epic PHEV option, intriguing interior design options Cons: Tech can be cumbersome, big wheels lead to a stiff ride From the editors: Road Test Editor Zac Palmer — "When it comes to plug-in hybrids, there's no better compact crossover option than the XC60 Recharge. I really dig the extra-powerful electric motor and larger battery Volvo added this year. The interior wool option is my pick of the bunch, but I am a little disappointed that there aren't as many physical buttons throughout the interior as there were before." News Editor Joel Stocksdale — "Although it's got some age, the Volvo XC60 is still an excellent premium SUV. It's as handsome as ever with its clean, modern design inside and out, and feels genuinely luxurious. But what really sets the XC60 apart is its available plug-in hybrid powertrain. It's smooth and refined, and best of all, it's still great in electric mode.