2023 Hyundai Ioniq Limited on 2040-cars

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Hyundai and Kia to hit record 8M sales for 2014

Hyundai and Kia are on a sales charge in 2014, and parent company Hyundai Motor Group is increasing projections to a record eight million combined units for the automakers by the end of the year – a bump over the original target of 7.86 million vehicles. According to Bloomberg, the key to the growth is beating expectations in Brazil, China and India, and strong crossover sales are also helping the bottom line. In the US, both automakers are doing well this year. In October, Hyundai saw a six percent dip in monthly sales, but through the first 10 months it sold 607,539 vehicles, compared to 601,773 at this point last year. Kia has done even better with 489,711 units sold from January to October, versus 456,137 for the period in 2013. The good news is a welcome antidote to negative headlines like investors' anger over Hyundai's $10 billion land purchase in Seoul, South Korea. The two automakers also had to pay a $300 million penalty to the Environmental Protection Agency for misstating fuel economy on some models. While sales may reach a new record, profits might not grow as much with them. The strong Korean won means that Hyundai and Kia have a tougher time keeping up profit margins compared to Japanese competitors with a weaker yen.

Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.

Hyundai's Super Bowl ads score on Ad Meter

Pepsi and Anheuser-Busch have often dominated USA Today's influential Super Bowl Ad Meter, but this year Hyundai broke through as the first car company to capture the top spot. Hyundai's First Date spot shown during the first quarter earned a 6.90 rating to edge out Heinz's Weiner Stampede (6.63) and two Doritos' commercials, Utrasound (6.60) and Doritos Dogs (6.48). Two more Hyundai spots, Ryanville (6.27) and The Chase (6.19) gave the automaker three of the top six commercials during the Super Bowl. USA Today's Ad Meter has been a barometer that measures the success of ads during the Big Game since 1989. More than 19,000 panelists participated this year. They ranked each ad on a scale from zero to 10. Anheuser-Busch ads won the last three years. First Date stars comedian Kevin Hart as an overprotective dad in who uses Hyundai's Blue Link car finder feature in the Genesis to spy on his daughter during a first date. Ryanville showcases Ryan Reynolds to illustrate how the Elantra can help with the perils of distracted driving. The Chase also stars the Elantra and its Blue Link voice-activated auto start system, which are successfully used to evade bears. Related Video: Hyundai Dominates with Three of the Top Six Ads First Automaker to Take the USA TODAY Ad Meter Crown FOUNTAIN VALLEY, Calif., Feb. 8, 2016 – Hyundai became the first automotive company to win USA TODAY's coveted Ad Meter when its spot "First Date" beat out 63 other Super Bowl 50 commercials. Hyundai's impressive performance also included a fifth and sixth place finish for "Ryanville" and "The Chase" respectively, meaning Hyundai finished with three of the top six highest rated ads. Creative was developed by Hyundai's agency of record, INNOCEAN Worldwide. "On the biggest advertising day of the year, we wanted to entertain Super Bowl fans with creative storytelling and relevant, popular celebrities, while showcasing the innovative technology features of our vehicles. Our formula clearly resonated with the thousands of Ad Meter voters," said Dean Evans, chief marketing officer, Hyundai Motor America. "Kevin Hart's comedic chops coupled with a human truth people could connect with was a standout combination that put us over the top. It's an incredible conclusion to our first year as an official NFL sponsor that we won the Ad Meter for Super Bowl 50." "First Date," a 60-second spot featuring Kevin Hart, highlights one of the incredible technology features of Hyundai's premium Genesis sedan.