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Hyundai and Genesis launch Job Loss Protection programs for new buyers

In 2009, to help new owners through The Great Recession, Hyundai created what it called Hyundai Assurance and Assurance Plus programs. Together, the allowed new buyers to return their cars within 12 months in case of an involuntary layoff, and made up to three car payments for new buyers in the same jobless boat. With the novel coronavirus Covid-19 already creating similar effects to the financial crisis, Hyundai has reinstated its Assurance Job Loss Protection program, and brought Genesis in on it with Genesis Cares Job Loss Protection. Hyundai will make up to six months of payments for anyone who buys or leases a new Hyundai from a Hyundai dealer, financed though Hyundai Capital, between March 14 and April 30, 2020 if the owner or lessee loses their job any time this year. The relief is available to any customer, regardless of employment history. On top of that, anyone who buys a new Accent, Venue, Kona, Elantra, Elantra GT, Tucson, or Santa Fe before April 30 and finances through Hyundai Capital can ask to have their payments deferred for 90 days. The Genesis Cares Job Loss Protection program provides the same benefit, covering anyone who takes home a new Genesis at a Genesis dealer, financed through Genesis Capital, from March 14 to April 30. Any involuntary termination through the end of this year can qualify for having up to six months of payments taken care of. Those who elect to buy a G70 sedan and finance through Genesis Capital before April 30, 2020 can request to have payments deferred for 90 days. For more information on the programs, check out the Hyundai and Genesis web sites. Related Video:

Hyundai, union reach tentative labor deal

According to Reuters, South Korea's labor unions may have reached a tentative deal with Hyundai following a compromise between the two sides on wages. Workers have staged a number of stoppages since August 20, which have cost the South Korean giant 1.02 trillion won - around $1.1B US. It also represents just over 50,000 units of production. That vehicle total sounds like a lot, but it's a small enough figure that Hyundai can apparently catch up with weekend and overtime shifts. We'd wager that this is why US inventories haven't been hit quite so hard aside from the battering already taking place. The proposal will now go before the union's rank and file.
If ratified, the new agreement will see workers getting a 5.14-percent raise in base salaries, along with 8.5-million-won (roughly $7,800) bonuses. Those concessions are a far cry compared to what the union was initially demanding, though. Early proposals included a 56.25-gram gold medal for each employee (worth about $2,400) and a 10-million won bonus (about $9,100) for employees whose children chose not to attend college. The union also sought a bonus worth two months' salary for workers that have been with the company for over 40 years, but this was negotiated down to a flat rate of six-million won ($5,464).
Based on Reuters' report, the work stoppages must have taken a real toll on Hyundai - its domestic sales dropped 20 percent last month, while exports were down nine percent. Those startling figures must have put some fire under the Hyundai bargaining team.

Guess which brand's not on a top 10 list of best EVs (hint: it's Tesla)

Few surprises lurk in Autotrader’s list of its 10 best electric vehicles of 2023, but there is one that stands out: no Teslas. There's Hyundais and Kias, Porsches and Fords, a BMW and a Nissan. But Â… no Teslas. Although many of us admit to being over-Musked and tired of reading about him, the lack of a Tesla model on a selection of the 10 most desirable current EVs is conspicuous by its absence. Asked about this particular omission, we received this rather vague response from Autotrader spokesperson Brenna Buehler at Cox Automotive: “Tesla models were included in consideration but didnÂ’t get sufficiently high scores by the Editorial team to qualify for the top 10.” At least some Tesla offerings appeared to meet all the requirements set by the website. The manufacturers must offer 2023 model year vehicles, and they have to be sold in at least 15 states. Check. Only pure EVs were allowed on the list; there are no hybrids, plug-in hybrids or hydrogen fuel-cell vehicles. Check. The base manufacturer's suggested retail price must be less than $100,000. Check. Let the debates begin. Moving on, it should be noted that two Genesis models, a G80 sedan and GV 60 SUV, are listed, along with a Lucid Air midsize sedan, the Rivian R1T pickup, and the Porsche Taycan. Here is the full list, with the remarks and comments from Autotrader's raters. (And we've included links to Autoblog's own reviews for a deeper dive). The EVs are listed in alphabetical order by brand, so don't read anything into the order of presentation: 2023 BMW i4 BMW reboots its EV approach and comes up with a winner: Whatever you thought of BMW's first run at EV, the i3, it was missing a certain something – it didn't look or perform like a BMW. The 2023 BMW i4 corrects course with a Gran Coupe that our editors agree looks and drives like a BMW. 2023 Ford F-150 Lightning Ford's electric pickup gathers steam in its second year: The F-150 Lightning somehow synthesized decades of pickup truck knowledge with the latest and greatest EV technology and infused thoughtful details and user-friendly features. 2023 Genesis Electrified G80South Korea's luxury brand shows how to elevate the executive EV sedan without breaking the bank: Genesis, Hyundai's luxury offshoot, rethought the gasoline-powered luxury sedan, the G80, and developed the 2023 Genesis Electrified G80. Precisely as the name hints, the Electrified G80 replaces the G80's engine with an all-wheel-drive EV powertrain.