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2020 Hyundai Sonata shows fresh shape among competitors

The Hyundai Sonata received a refresh for the 2018 model year, but it seems that version won't be around for long, because a 2020 Hyundai Sonata midsize family sedan has been spied testing. The new car was spotted in Las Vegas testing alongside the competition. This new Sonata also appears to be a complete redesign, since nothing appears to be shared with the current model. Up front, the new Sonata looks much wider than the current model. Part of this is due to the headlights being moved to sit inline with the top of the grille, as opposed to slightly above on the current model. And while we can't see it clearly, the grille will likely have a similar shape to that of the current model and other Hyundais. The fenders also wrap around the top of the car more, further contributing to the car's wide stance. The profile of this new Sonata is different, too. It's a bit more traditional in how the engine compartment area doesn't blend into windshield as much. The current Sonata blends the engine, passenger and trunk compartments more. There's also a curve to the bottom of the greenhouse on the new car that lends the car a more graceful, less upright appearance. There is still a fastback look to the rear of the Sonata, but it's stretched out more, again helping the car look less upright. This is the first time we've seen the next-generation Hyundai Sonata, but it does look as though it's pretty far in development. What we can see of it appears to be production ready. As such, we probably won't have long to wait to see the car revealed. It will probably show up sometime next year in time for the 2020 model year. Related Video:

Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.