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2015 will be the biggest year ever for cars at CES

Like the SEMA Show, major automakers are paying increasing attention to the CES, with 2015 expected to be one of the most auto focused yet. Ford, Volkswagen, Toyota, General Motors, Hyundai, Mazda, Audi, BMW and Fiat Chrysler Automobiles will all be in attendance when CES 2015 kicks off next week, taking up a record-breaking 165,000 square feet of space at the Las Vegas Convention Center. "We've come a long way from a single car on a carpet," Ford's Alan Hall told Bloomberg. Unlike SEMA, or a more traditional auto show, like the upcoming festivities in Detroit, CES doesn't necessarily focus on entire cars or the way they perform, but on the way our technology will interact with vehicles, and in how those vehicles will deliver information to drivers. "CES has become a major launch point for a lot of the big automakers," IHS tech analyst Mark Boyadjis told Bloomberg. "CES is a way for them to get on a global stage for technology." As for what kind of wares automakers will trot out in Las Vegas, we already know that BMW will show off an autonomous i3 electric car that can navigate its way through a multistory car park and can be hailed via a smartwatch app. According to Bloomberg, Hyundai will show off its own smartwatch app for the Genesis sedan, while Audi and Mercedes-Benz will show off autonomous vehicles next week. Automakers won't be the only companies looking to capitalize on CES. Tech firms, like chipmaker Nvidia, are becoming increasingly involved in the automotive game and will be in town showing their wares off to OEMs. "Two years ago, our booth would have been filled with PCs and people playing video games," Danny Shapiro, Nvidia's senior director for automotive business, told Bloomberg. "This year we made a strategic decision to shift the focus of the booth on automotive and de-prioritize some of the other things." Needless to say, you can expect to see a lot of news out of Las Vegas come next week. Stay tuned. News Source: BloombergImage Credit: Julie Jacobson / AP CES Audi BMW Chrysler Fiat Ford GM Hyundai Mazda Toyota Volkswagen Technology CES 2015

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.

Hyundai announces upcoming Creta sub-compact crossover

The market for subcompact SUVs is booming, and the next automaker to get in on the action will be Hyundai. The Korean automaker has not only announced the imminent arrival of its first subcompact crossover, but has given it a name, as well. Like some of its other crossovers, Hyundai's forthcoming baby high-rider takes its name from a geographical place – but unlike the Tucson and Santa Fe, the discontinued Veracruz, or the conceptual Santa Cruz, that place isn't in North America. The name Creta is derived from the Greek isle of Crete, and is meant to evoke the notion of creativity, says Hyundai. (The marketing team is evidently hoping people don't associate it with the term "cretin" in the process.) The model is slated to launch in India sometime in the second half of this year, but whether it makes its little way to US showrooms remains to be seen. Wherever it is sold, however, the Hyundai Creta will ostensibly take on the likes of the Chevy Trax, Fiat 500X, Jeep Renegade, Mazda CX-3, Nissan Juke and Honda HR-V/Vezel in this burgeoning segment. Hyundai Motor Reveals Name Of New Global Sub-compact SUV: 'Creta' - Creta is the first sub-compact SUV model to be developed by Hyundai Motor - Global launch will start in India, in second half of 2015 June 2, 2015 - Hyundai Motor Company has today announced the name of its first sub-compact SUV: 'Creta'. The global roll-out of this all-new model will start in the second half of 2015 in India. The name 'Creta' derives primarily from the name for Crete, the largest of the Greek islands. Situated in the Mediterranean Sea, Crete was the focal point for Greece's global prowess in trade and culture, in its heyday connecting Europe, Asia and Africa. Creta will be an influential global model for the Hyundai Motor brand in one of the fastest-growing vehicle segments, helping the company to reach out to many more consumers in new and established international markets. Consistent with the core concepts underpinning Hyundai Motor's Modern Premium brand direction – SIMPLE, CREATIVE, CARING – the 'Creta' name is simple and easy to remember. Pronunciation of Creta deliberately evokes welcome similarities with the term 'creative', and draws on positive associations with the Mediterranean island of Crete, which is famed for combining a relaxed and tranquil environment with a vibrant, energetic approach to outdoor activities.