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Hyundai-Kia dealer offers $180k in gift cards to local residents

In many smaller communities, auto dealers are often major players in the local business and political world, and they interact with large portions of the population. Now, Grand West Hyundai and Grand West Kia in Grand Junction, CO, are putting their marketing dollars to work in a way to help the local economy, while also potentially generating some sales at the same time. Over the next six months, the dealers are contacting about 8,000 previous customers and offering them a gift card worth at least $50 to over 100 of the city's shops and restaurants (pictured above), according to Automotive News. All people need to do to receive the certificate is stop by the showrooms. Hopefully, the visitors would check out a new Hyundai or Kia at the same time. "We'd love to sell them a new car, but it is really a customer-appreciation gesture," said Ken Reeher, the dealers' marketing manager, to Automotive News. The two stores already bought about 3,600 cards with $181,000 going into the local economy. Paying people to come to the showroom isn't really new but generally works well. The Colorado dealers expect around half of the people they contact to visit for the gift card, which is still significantly more foot traffic than from traditional mailings. The decision to keep the cards local also means more money goes to small businesses, and the move gains goodwill in the community, too. News Source: Automotive News - sub. req.Image Credit: Aaron Hoffman Marketing/Advertising Hyundai Kia Car Buying Car Dealers colorado

Consumer Reports criticizes small turbo engines for misleading performance, fuel economy claims [w/video]

Consumer Reports has taken aim at at small-displacement, forced-induction engines, saying the powerplants don't manage to deliver on automaker fuel economy claims. Manufacturers have long held that smaller, turbocharged engines pack all power of their larger displacement cousins with significantly better fuel economy, but the research organization says that despite scoring high EPA economy numbers, the engines are no better than conventional drivetrains in both categories. Jake Fisher, director of automotive testing for Consumer Reports, says the forced induction options "are often slower and less fuel efficient than larger four and six-cylinder engines."
Specifically, CR calls out the new Ford Fusion equipped with the automaker's Ecoboost 1.6-liter four-cylinder engine. The institute's researchers found the engine, which is a $795 option over the base 2.5-liter four-cylinder, fails to match competitors in acceleration and served up 25 miles per gallon in testing, putting the sedan dead last among other midsize options.
The Chevrolet Cruze, Hyundai Sonata Turbo and Ford Escape 2.0T all got dinged for the same troubles, though Consumer Reports has found the turbo 2.0-liter four-cylinder in the BMW 328i does deliver on its promises. You can check out the full press release below. You can also read the full study on the Consumer Reports site, or scroll down for a short video recap.

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.