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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Hyundai recalls 205,000 Elantras for possible power steering failure [UPDATE]

UPDATE: Autoblog reached out to Hyundai spokesperson Jim Trainor for more information about this recall. He let us know via email: "Owners will be notified beginning in the second quarter." Also, there have been "no accidents, injuries nor fatalities," as a result of this issue. Hyundai is recalling 204,768 examples of the 2008-2010 Elantra sedan and 2009-2010 Elantra Touring because of possible failure of the electrically assisted power steering. The problem in these vehicles is that the ECU for the power steering can "sense a discrepancy in the steering input signals and, as a result, disable the steering power assist," according to documents submitted to the National Highway Traffic Safety Administration. If this happens, then drivers could suddenly experience a more difficult time driving the Elantras. According to a chronology submitted to NHTSA (that you can read in full as a PDF, here), Hyundai first became aware of this problem in 2010 and issued a TSB for it in 2011. At that time, just 0.25 percent of sedans and 0.36 percent of Touring models were shown to have the fault. However by October 2014, the issue had gotten worse, and 1.3 percent of four-doors and 1.9 percent of the hatchbacks were exhibiting it. The automaker believed that by maintaining manual steering the vehicles were still within the law, but "the industry has increasingly handled similar issues through safety recalls." In most cases, turning the ignition off and then back on rectifies things, but to fix this, Hyundai is updating the power steering control unit on these models. RECALL Subject : Electric Power Steering Assist may be Disabled Report Receipt Date: FEB 23, 2015 NHTSA Campaign Number: 15V100000 Component(s): STEERING Potential Number of Units Affected: 204,768 All Products Associated with this Recall Vehicle Make Model Model Year(s) HYUNDAI ELANTRA 2008-2010 HYUNDAI ELANTRA TOURING 2009-2010 Details Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2008-2010 Elantra vehicles manufactured June 1, 2008, to April 30, 2010, and 2009-2010 Elantra Touring vehicles manufactured November 1, 2008, to April 30, 2010. The electronic power steering (EPS) electronic control unit (ECU) may sense a discrepancy in the steering input signals and, as a result, disable the steering power assist.

Ranger in the USA, Alfa in Italy, and Volvo goes RWD | Autoblog Podcast # 780

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. They start off with this week's big news, including the official unveiling of the U.S.-market Ford Ranger and Ranger Raptor, some new RWD options from Volvo, and the potential production status of the Hyundai N Vision 74 concept. They also cover the discontinuation of the Mercedes-Benz CLS and the introduction of the latest RS model in Porsche's lineup, based on the 718 Spyder. From there, Byron talks about driving the new Alfa Romeo Tonale, and Greg digs into the new Lexus IS 500 F Sport Performance. After that, Byron talks about his Wankel-based discovery during his tour of Alfa Romeo's factory museum outside Milan.  Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 780 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2024 Ford Ranger and 405-horsepower Ranger Raptor revealed 2024 Volvo C40 and XC40 Recharge First Drive Review: Back to the RWD future Pony up, Hyundai. Build the N Vision 74 concept Porsche unveils 2024 718 Spyder RS — outrun the sun What we're driving2024 Alfa Romeo Tonale 2023 Lexus IS 500 F Sport Performance Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Ford Hyundai Lexus Porsche Volvo Convertible Crossover Electric Sedan