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Hyundai recalls 24k Genesis sedans over electrical issue

An electrical problem has prompted Hyundai and the National Highway Traffic Safety Administration to issue a recall for the 2015 Genesis. The problem arises when water leaks into the taillight assembly, which – in a way that would only make sense to an electrician – could cause the incorrect gear to be displayed on the instrument panel or even a delay in switching from Park to Reverse or Drive. Needless to say, if the driver doesn't know into which position the transmission has shifted, that could increase the likelihood of a crash. The issue affects an estimated 24,400 units of the 2015 Genesis in the United States – specifically those manufactured between February 21, 2014, and January 24, 2015. Owners of those vehicles can expect to hear from their local dealer to arrange the installation of additional waterproofing pads to prevent the troublesome moisture from leaking in to the taillights. RECALL Subject : Water may Leak into Rear Combination Lamp Assembly Report Receipt Date: FEB 19, 2015 NHTSA Campaign Number: 15V097000 Component(s): ELECTRICAL SYSTEM , EXTERIOR LIGHTING , POWER TRAIN Potential Number of Units Affected: 24,400 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2015 Genesis vehicles manufactured February 21, 2014, to January 24, 2015. Water may leak into the rear combination lamp assemblies and cause an incorrect gear display on the instrument panel or a delay in the engagement of the selected gear when the vehicle is shifted from Park to Reverse or Drive. CONSEQUENCE: If the incorrect gear is being displayed, the vehicle may move in an unintended direction, increasing the risk of a crash. REMEDY: Hyundai will notify owners, and dealers will apply pads to prevent water intrusion into the combination lamp housing, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Hyundai customer service at 1-855-671-3059. Hyundai's number for this recall is 128. 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.

Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Hyundai previews new Creta crossover in first design sketch

It was barely a week ago that Hyundai announced the name of its upcoming subcompact crossover, the Creta. And now the Korean automaker has released the first sketch. The design bears obvious links to the larger Santa Fe (which was just unveiled in facelifted form) and the new Tucson (unveiled in Geneva), particularly at the front end with its angular eyes and trapezoidal grille. Hyundai promises "a bold front, voluminous side, [and] sporty rear," with a hidden A-pillar and an overall "premium look." Called the Creta, the new small crossover is set to take on the likes of the Nissan Juke, Mazda CX-3, Jeep Renegade, and others in an increasingly vital, growing, and competitive segment. HYUNDAI MOTOR UNVEILS FIRST RENDERING OF CRETA SUB-COMPACT SUV Hyundai Motor Company today unveiled its first rendering of the upcoming Creta, sub-compact SUV. The design of Creta follows a premium look, based on Hyundai Motor's evolved design philosophy. Harmony between a bold front, voluminous side, sporty rear and other details complete the premium sub-compact SUV design. Creta with its bold and glamorous looks feature singular hexagonal radiator grille, sleek profile and a stable stance. The hidden A-pillar was applied to grant a unique and dynamic image, hinting at an open and airy cabin. Related Video: