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Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.

First peek inside Hyundai's hybrid Prius fighter

There are two new vehicle rumors that the auto industry can't seem to get enough of these days: "Tesla fighters" and "Prius fighters." The former category is filled up by Porsche and Audi and more. In the ranks of those who want to take on the world's best-selling hybrid, we can add Hyundai, but this time with a potential twist. First, let's take a look at the latest spy shots of the potentially 2017 model year gas-electric hybrid, including our first look inside. This car will be based on the next-generation Elantra that is also supposed to arrive in 2017. Rumor has it that a medium-sized lithium-polymer battery pack could offer 38 electric miles before the 1.6-liter engine takes over. The new hybrid will likely have a new name and could appear at an auto show at some point in 2016. We've seen other versions of this Prius fighter disguised in different camo. If you'd like to compare the vehicles, you can do so here and here (the latter shows modified Elantra GTs). Now, what about that twist? Well, alongside the standard gas-electric vehicle, it appears that Hyundai might also be working on an all-electric version of its "Prius fighter." Wearing the "AE" moniker, the all-electric version isn't guaranteed to arrive when the gas-electric car does, and may show up later, according to Green Car Reports. This all fits with Hyundai's promise, in 2014, to introduce a new all-electric car for the US market. We won't be surprised if it has wireless charging, too.

Hyundai Rockar dealership concept a kinder way to buy a car [w/video]

The simple car-buying battle line these days usually centers around dealerships versus some alternative method, like online, that bypasses the dealer. A few manufacturers are trying ways in between those two poles, so that customers can visit a retail concept brick-and-mortar location but avoid the negative associations they have with dealerships; Audi's done it in London, BMW's done it in Paris and Tesla is doing it all over. After two years in development, Hyundai has done the same with its Hyundai Rockar store in the Bluewater shopping mall in Kent, England. Hyundai UK partnered with Simon Dixon on the venture, Dixon being a 20-year veteran of the car industry who was frustrated by the experience of having to buy a car at a traditional dealership. Rockar, tucked between a Disney store and a Body Shop, keeps three vehicles in the store; if you prefer, you can handle the entire car-buying transaction online at home, or at computer stations in the store with the help of "Angels," otherwise known as salespeople. Focusing on the retail experience, however, the Angels don't have car backgrounds; they've been trained in the product, but we're told they aren't there to push it on you. Car hunters who want to trade in can input their car to get fair trade value; Rockar says all of its trade-ins go straight to auction, so values are based on dealer auction guides, and every customer gets a no-haggle purchase price. There's a test-drive facility in the mall's enormous parking lot, and prospective customers can go for a spin without a salesperson. It will also attend to routine service needs: owners can book appointments, bring their car to the mall, amuse themselves for a few hours and pick it up the car it's completed. Rockar says it will do routine maintenance on any car, not just Hyundais. Echoing Audi and BMW, Hyundai UK says this isn't about replacing the dealership, but trying to find a better, easier, and less stressful way for potential customers to interact with the brand and buy a car. Bluewater gets 27 million visitors per year, and in just over a month of being open more than 4,000 of them have stopped into Rockar, with three buying a car. Rockar says it will provide free service for three years for the first 100 buyers, and Hyundai expects it to be one of its UK's top ten dealers by the end of 2015. The video has more on the concept. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.