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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.

2016 Hyundai Tucson and Sonata each get TSP+ rating by IIHS

Hyundai is no stranger to building vehicles that get Top Safety Pick+ honors from the Insurance Institute for Highway Safety, but the company is getting two of the awards at once thanks to the latest results from the 2016 Tucson and Sonata. Both models feature a front crash prevention system that's rated highly by the safety agency. The biggest advancement in this round comes for the new Tucson. In the small-overlap front crash, it now earns the IIHS' best score of Good, versus Poor – the lowest – for the previous generation. In the latest test, the crossover shows at most six inches of intrusion into the passenger compartment, compared to 16 inches last time. The airbags work to protect the head, and the sensors indicate a low risk of injury. The Tucson has Good ratings in all the other safety evaluations, too. The 2015 Sonata already did quite well when checked last year, but Hyundai apparently wasn't happy with the sedan's Acceptable result in the small-overlap front crash. According to the IIHS, the automaker adjusted the driver's seatbelt and the front suspension in hopes of a better score. However, even with the tweaks, the 2016 Sonata kept the same result. It scored Good in the other safety categories. The company isn't giving up on acing things, though. "Modifications are planned to take Sonata to 'Good' in the small overlap test," Hyundai spokesperson Jim Trainor said to Autoblog. The IIHS gave the crash prevention tech in both models its top Superior grade. The systems' automatic braking was able to avoid accidents from 12 and 25 miles per hour. The forward collision warning added the last bit needed to give them the maximum six points from the institute. Related Video: Hyundai Tucson and Sonata earn 2015 TOP SAFETY PICK+ awards ARLINGTON, Va. — A redesign for 2016 has taken the Hyundai Tucson from a poor to good rating in the Insurance Institute for Highway Safety's small overlap front crash test. With an available front crash prevention system that earns a superior rating, the small SUV qualifies for the TOP SAFETY PICK+ award. The 2016 Hyundai Sonata also earns a superior front crash prevention rating and a TOP SAFETY PICK+. In the Tucson's small overlap test, the driver's space was maintained well, with maximum intrusion of 6 inches at the parking brake pedal, but no more than 3 inches at other locations. The dummy's movement was well-controlled, and the front and side curtain airbags worked well together to protect the head.

Hyundai considering pickup after good reaction to Santa Cruz

The Hyundai HCD-15 Santa Cruz pickup concept was one of the stars of the 2015 Detroit Auto Show and even earned fifth place on Autoblog's Editors' Choice list of favorite debuts. The strong response might have been enough to get it made. Hyundai research and development director Park Byung-cheol said that the company was considering building the truck, according to Reuters. He warned, though, that there were still some obstacles in the way of the pickup arriving to showrooms without saying what those were. Rumors about Hyundai considering a pickup in the US go back several years but were fruitless. The Santa Cruz's unveiling really reignited things, though. The North American arm of the Korean brand reportedly chose Detroit for the debut so that foreign executives could see the media reaction to the concept. That gamble might have paid off. Hyundai's pickup at dealers might not look like the Santa Cruz concept, though. The company said the version in Detroit had nothing production-ready about it and even lacked an interior. At the time, a platform still hadn't been decided on, and the brand had several internal design studies underway. Related Video: