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Ex-Hyundai CEO Krafcik joins TrueCar board amidst IPO plans

Former Hyundai Motor America CEO John Krafcik has had a tumultuous year. Last June, he won the Automotive Executive of the Year from DNV Business Assurance. Then in December, he suddenly announced he was stepping down from his leadership role at the Korean automaker on January 1, with some suggesting it was because the company's sales growth was too far below forecasts. Now, it looks like the exec has landed a new role on the board of directors of online car shopping website TrueCar.
According to The Wall Street Journal, Krafcik's role will be to build relationships with automakers and dealers, but the job at TrueCar won't be full time. Since leaving Hyundai, Krafcik has also been doing consulting work in Silicon Valley. "It's helped me understand what I might want to do, full, full time. I am just taking things at the appropriate pace," he said to the Journal.
Krafcik, who is widely considered one of the industry's top executives, took the helm at Hyundai America in 2008 and led it to an increase in sales and market share. He was with the company when it won North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively.

Hyundai recalls 43k Genesis and Equus models for faulty lighting

As you can imagine, it'd be a bit of a problem if the brake lights on your car didn't work. And that, unfortunately, is precisely the problem that Hyundai has found with some of its higher-end offerings, prompting the Korean automaker to issue a recall. (One of a great many recalls issued by the National Highway Traffic Safety Administration today, as you can no doubt see.) The problem apparently revolves around a failure in the circuit that's supposed to illuminate the taillights when the driver hits the brakes. If that doesn't work, of course, the vehicle behind would be more likely to crash into the Hyundai in question. As a result, Hyundai is recalling precisely 42,925 units, split between the 2009-2011 Genesis (manufactured between April 30, 2008, and November 21, 2010) and the 2011 Equus (manufactured between July 31, 2010 and November 21, 2010). Owners of those vehicles will be notified to bring their vehicles in to have their brake light circuits repaired. RECALL Subject : Inoperative Stop Lamps Report Receipt Date: NOV 07, 2014 NHTSA Campaign Number: 14V713000 Component(s): EXTERIOR LIGHTING Potential Number of Units Affected: 42,925 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain 2009-2011 Hyundai Genesis vehicles manufactured April 30, 2008, to November 21, 2010, and 2011 Hyundai Equus vehicles manufactured July 31, 2010, to November 21, 2010. Due to a circuit failure, the stop lamps in the affected vehicles may not illuminate. CONSEQUENCE: A following vehicle may not recognize that the vehicle is slowing or coming to a stop if the stop lamps on the vehicle do not illuminate as expected. There is an increased risk of a rear-end crash as a result. REMEDY: Hyundai will notify owners, and dealers will repair the stop lamp switch circuit, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Hyundai customer service at 1-714-865-3920. Hyundai's number for this recall is 125. 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.

Weekly Recap: Kia leads Korea's quality surge

The rapid rise of Korea's auto brands in the US market has been apparent on the sales charts for several years, and now it's showing up in an area that's just as crucial: quality. Kia and Hyundai earned the highest rankings among mainstream brands in the J. D. Power Initial Quality Study released on Wednesday. The study tracks problems owners report during the first 90 days they own their car. Kia reported 86 problems per 100 vehicles, or fewer than one problem per car sold, to take second in the rankings behind luxury sportscar-maker Porsche (80). Kia's score improved by nearly 20 percent compared with the 2014 study. "The big industry story is Kia," Renee Stephens, vice president of U.S. automotive quality at J.D. Power, said in a video statement, noting Kia's infotainment systems were the key reason for its improved performance. Hyundai was fourth for the second straight year, though its score actually worsened by one, to 95. Even with Hyundai's slight dip, Korean quality increased 11 percent, according to the study, which far outpaced American and European companies' three-percent increases. Japanese brands improved one percent. Hyundai Motor Co. (parent company of the Hyundai and Kia brands) captured four individual vehicle awards, which tied for the most with General Motors, Nissan, and Volkswagen. "The Korean brands have really taken off," Stephens said. "There's movement in the industry, and the patterns are shifting." Another luxury brand, Jaguar (93 problems), slotted in between Hyundai and Kia in third place. Infiniti was fifth, followed by BMW. Chevrolet was the highest domestic brand, taking seventh place, followed by Lincoln, Lexus, and Toyota, which were all well above the industry average of 112 problems per 100 vehicles. OTHER NEWS & NOTES Kirk Kerkorian dead at 98 Kirk Kerkorian, a billionaire activist investor who wielded enormous influence on the Detroit Three car companies in the 1990s and 2000s, died Monday. He was 98 years old. Kerkorian made headlines in 1995 for trying to take over Chrysler – with the help of former chairman Lee Iacocca – before being fended off by Chrysler management. His takeover attempt ultimately pushed Chrysler to be sold to German giant Daimler. He tried to buy Chrysler again in 2007 when Daimler put Chrysler on the market, but Kerkorian fell short and the automaker was sold to private equity firm Cerberus.