2011 Hyundai Elantra Limited on 2040-cars

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Hyundai sticks to EV rollout plans, sees solid growth this year

SEOUL — Hyundai Motor said on Thursday it would not delay plans to roll out new electric vehicles and was upbeat about prospects for continued growth this year — a contrast to recent steps by rivals to cut back on EV output. Electric vehicle sales are growing strongly but not as much as carmakers had forecast, with demand hit by high interest rates. "We do not plan to dramatically reduce EV production or our line-up due to likely near-term hurdles as we believe EV sales will grow longer term," Seo Gang Hyun, an executive vice president at the South Korean automaker, told an earnings briefing for analysts. The Hyundai Motor Group, which encompasses the Hyundai, Kia and Genesis brands, said in April it plans to launch 31 EVs by 2030. This includes the launch of the Ioniq 7 SUV next year. Seo said Hyundai's EV sales next year could be slightly lower than previously expected, but the automaker had the production flexibility to boost output of gasoline engine cars if demand shifted that way and he did not expect a significant impact on overall sales. When asked about the impact on Hyundai Motor of the United Auto Workers (UAW) union reaching a tentative labour deal with Ford, Seo said the company expects the deal will have an impact on wage increases at its U.S. factories, but such costs could be covered as the automaker has been putting effort into reducing costs, such as in logistics. Hyundai Motor, which is not a member of the UAW, operates an assembly plant in Alabama and is building a factory to produce EVs in Georgia. For the third quarter, Hyundai booked a net profit of 3.2 trillion won ($2.4 billion), more than double its year-earlier result and beating an LSEG SmartEstimate of 2.9 trillion won, with the automaker helped by a favourable exchange rate. Sales also increased, climbing 8.7% to 41 trillion won on solid demand for high-margin gasoline SUVs. Sales of EVs and hybrids also grew, up by a third to 169,000 units. This month has seen a flurry of downbeat EV announcements. Citing flattening demand for EVs, GM said it would delay production by a year of Chevrolet Silverado and GMC Sierra electric pickup trucks at a plant in Michigan. Ford is temporarily cutting one of three shifts at the plant that builds its electric F-150 Lightning pickup truck. Tesla is also slowing plans for a Mexico factory, while GM and Honda announced on Wednesday that they were ending a $5 billion plan to develop lower-cost EVs together.

2015 Hyundai Genesis recalled to replace tires

The Basics: Hyundai is recalling 11,142 examples of the 2015 Genesis sedan with production dates between March 3, 2014, and February 9, 2015. The Problem: The models have Hankook Ventus S1 noble2 tires that can develop cracks in the sidewalls, which could cause them to rupture or leak air. Injuries/Deaths: None reported, Hyundai spokesperson Jim Trainor told Autoblog. The Fix: Dealers will replace the tires. If You Own One: Hyundai expects to begin the recall on February 19. RECALL Subject : Tires May Develop Cracks in Sidewall Report Receipt Date: DEC 22, 2015 NHTSA Campaign Number: 15V864000 Component(s): TIRES Potential Number of Units Affected: 11,142 All Products Associated with this Recall Vehicle Make Model Model Year(s) HYUNDAI GENESIS 2015 Details Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2015 Genesis vehicles manufactured March 3, 2014, to February 9, 2015, and equipped with Hankook Ventus S1 noble2 tires installed as original equipment. The affected tires may develop cracks in the tire sidewall, resulting in a loss of air. CONSEQUENCE: Tire sidewall cracks could cause a rupture during use, resulting in a rapid air loss and loss of vehicle control, increasing the risk of a crash. REMEDY: Hyundai will notify owners, and dealers will replace the factory tires with tires of another brand, free of charge. The recall is expected to begin on February 19, 2016. Owners may contact Hyundai customer service at 1-855-671-3059. Hyundai's number for this recall is 138. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Related Video:

2014 Hyundai Veloster Turbo R-Spec loses creature comforts, gains sporting equipment [UPDATE]

Hyundai unveiled the Veloster Turbo R-Spec at the LA Auto Show yesterday, and it's touted as a high-performance model without some of the standard features usually found on the Veloster Turbo, such as proximity-key entry with push-button start, premium gauge cluster, side-repeater mirrors, driver's auto-up window, high-gloss interior trim and heated leather seats.
Like the other three R-Spec models Hyundai has released (Genesis Coupe 2.0T R-Spec, Genesis Coupe 3.8 R-Spec and Genesis 5.0 R-Spec), the Veloster Turbo R-Spec skimps on interior appointments to keep the price down. But Hyundai thinks that people who buy it don't want that equipment anyway, and would rather install aftermarket goodies. The car is priced at $22,110 (including the $810 destination fee), which makes it the least expensive Veloster Turbo model.
The pared-down hatchback's special features include R-Spec-specific sport suspension, retuned steering and a B&M short-shifter for the six-speed manual transmission (the R-Spec isn't offered with an automatic). That's all great, but we can do without the red-accented side skirts and front splitter, which look just as tacky in person as they do in pictures.