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Hyundai sales slump in China over North Korea, standoff with Chinese partner

BEIJING/SEOUL — Hyundai is at loggerheads with its Chinese partner over efforts to cut supplier costs, as they grapple with cutthroat competition and the impact of a standoff between Beijing and Seoul. Hyundai, along with affiliate Kia, has been caught up in a political row over a missile defense system that is being deployed in South Korea, but opposed by China, as tensions grow over North Korean missile tests and last week's test of a nuclear bomb the North claims can be mounted on a missile. Sales of Hyundai cars in China have been falling, part of a backlash against South Korean brands over the missile system that China views as a threat to its own national security. On Tuesday, South Korea asked the United States to lift a limit on the explosive payloads it can use in the missile system. This as a North Korean missile, believed to be an intercontinental ballistic missile, was being tracked by intelligence services being moved on the ground toward North Korea's west coast and a possible launch site. That has come against the backdrop of ever tougher competition from local Chinese automakers. Until last year, Hyundai and Kia ranked third in China by sales. But Hyundai's sales alone have slumped 41 percent from January to July, fraying relations with local partner BAIC Motor Corp and making this the biggest crisis since Hyundai entered the Chinese market in 2002. Last month, Hyundai suspended production at its four China plants for a week after a French supplier refused to provide fuel tanks when its bills went unpaid. On Tuesday, Hyundai suspended production at one of its plants in China after a German firm went unpaid. Hyundai and BAIC — whose Beijing Hyundai joint venture is a 50:50 partnership — are divided over how to solve the issue of suppliers and tougher competition. Hyundai wants to protect its South Korean supply chain, while BAIC favors shifting to cheaper Chinese suppliers to cut costs, the people said. "BAIC wants to solve this aggressively and is ... asking Hyundai to change its sourcing strategy significantly and immediately," said the head of a Hyundai supplier based in Seoul, adding the idea was to source more locally from cheaper suppliers in China. Hyundai wants to solve this more gradually "over perhaps 5-10 years and do so in phases," the person said. BAIC declined to comment.

Hyundai HG350 ready to take on Europe's Transits and Sprinters

Here in North America, Hyundai has been historically known as a purveyor of affordable, content-laden everyday cars and crossovers. More recently, it's also been pushing upmarket and attempting to gain respect for its sporting joneses. In other parts of the world, however, the Korean automaker is a major force in commercial vehicles, providing everything from chassis cabs and dump trucks to fullsize motor coaches. Now, it's looking to push further overseas, squarely into Europe's already mature van business with this new HG350, a new commercial vehicle that will form the basis for a cargo van, passenger transport and flatbed truck.
This three-pronged approach will see Hyundai fighting directly against the new Ford Transit, the Mercedes-Benz Sprinter, and models like the recently overhauled Fiat Ducato/Peugeot Boxer twins. The rear-drive, six-speed manual-equipped range is available in 3.5-ton cargo or flatbed spec, or in 4.0-ton guise with as many as 15 seats. The cargo version, incidentally, can hold up to 456 cubic feet of stuff. Regardless of configuration, power comes from a common-rail diesel displacing 2.5 liters with either 148 horsepower and 275 pound-feet of torque or 168 hp and 311 lb-ft.
With the American market finally embracing Euro-style cargo vans, does that mean that Hyundai might bring the HG350 here? Not likely. "While a heck of a vehicle, this isn't anything we are seriously considering right now for the US market," Jim Trainor, Hyundai Motor America's national manager of product public relations, tells Autoblog.

Hyundai Tucson Fuel Cell gets massive 43% price cut in South Korea

Hyundai is soldiering on with its fuel-cell-powered Tucson, ordering an enormous cut in the zero-emission CUV's price in the company's home market. The 43-percent reduction, when combined with subsidies from the South Korean government, brings the cost of entry to a still-lofty $54,000, Ward's reports. While that's undeniably a lot of money, we need to explain just how wildly expensive the Tucson FCV was in the first place. Hyundai trimmed a total of $67,000 from the $144,000 starting price. Even with some very significant – and not unusual – subsidies, the fuel-cell model still cost $86,000. Considering where things started from, $54K seems like a relative bargain. Beyond South Korea, Hyundai is expected to announce some sort of price cut in Europe, where the Tucson is marketed as the ix35 FCV, but it's unclear at this point if the Euro model's price tag will get such a dramatic reduction. We haven't heard of any changes to the cost of the lease-only North American-market Tucson FCV, which is currently available in California for $499 per month with $2,999 down. Related Video: Featured Gallery 2015 Hyundai Tucson Fuel Cell View 29 Photos News Source: Ward's Auto Green Hyundai Alternative Fuels Crossover Hydrogen Cars hyundai tucson fcv hyundai ix35