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How feasible is Hyundai's HCD-15 Santa Cruz pickup?

When the silk finally slipped off Hyundai's HCD-15 Santa Cruz concept at the Detroit Auto Show on Monday, it was tangible, four-wheeled confirmation following years of rumors that the Korean automaker has been investigating the pickup market. Yet despite strong early critical and online reception, the likelihood of a production Hyundai pickup remains muddy at best. To be clear, Hyundai officials tell Autoblog there's nothing remotely production-ready lurking below the Santa Cruz's skin – it's a what-if concept designed to gauge customer reaction. But company officials say Hyundai is seriously investigating the possibility of a production pickup, and the company firmly believes that there's a market for a small, efficient unibody truck. According to John Krsteski, Manager at Hyundai Design North America, who spearheaded the project, Hyundai "is spending a lot of time right now still going through some studies on which types of platforms – whether it's a unique platform. It could be based on something like a Tucson ... we've looked at several different options." While Krsteski indicated that a platform hadn't been arrived at – and would likely need modifications – he says "it's definitely feasible." The Santa Cruz concept has a number of eye-catching features that would seem tough to produce – namely the slide-out rear bed extender that Krsteski says was influenced by the drawer-style ovens and dishwashers increasingly found in high-end kitchens. "We've had a couple of engineers in the studio and we did some study models on it, and we do think it's feasible – especially based on how we could package that inside there." With the extension in place, the small bed is large enough for a motocross bike to fit in on an angle. So what's next for the Santa Cruz? Hyundai has some internal studies it has completed and others that remain ongoing, and the company will work to gauge consumer response to the vehicle at auto shows and other events. Hyundai Motor America is clearly excited about the California-born project, but the toughest hurdle to a production pickup will likely be getting approval from headquarters in Korea. To that end, we've been led to understand that it was both telling and strategic that the Hyundai press conference was packed with Korean executives, who were on-hand in part to gauge media reaction to the Santa Cruz.

Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

2016 Hyundai Veloster Turbo Rally Edition Quick Spin [w/video]

Our year-long test of the Hyundai Veloster Turbo was a mixed experience. There were plenty of not-very-nice anecdotes about the blown Hyundai – at one point, our own Managing Editor Steve Ewing suggested we "stop thinking of the Veloster Turbo as a proper hot hatch," and Senior Editor Seyth Miersma said it was a car that "doesn't feel especially hot-hatchy." We felt this way despite the car's overt hot-hatch trappings: the red turbo badging, matte-gray paint, upgraded body kit, huge center-exit exhaust pipes, and sticky Michelin tires. Our reaction to this Rally Edition was lukewarm when it debuted earlier this year at the Chicago Auto Show. You can imagine, then, our trepidation with the arrival of the matte blue tester. As it turned out, a week behind the wheel proved that Hyundai has addressed a number of the complaints we lodged during our prior year-long Veloster test. Driving Notes There was only so much Hyundai could do to the Veloster during this year's mid-cycle refresh. That means the 1.6-liter, turbocharged four-cylinder is still there, writing checks its performance can't cash. We still get 201 horsepower and 195 pound-feet of torque, the latter of which is available between 1,750 and 4,500 rpm. Despite the generous torque spread, there's no sense of urgency with this engine. Pair that with the still persistent turbo lag, and the Veloster Turbo feels slower from behind the wheel than other hot hatches, even less powerful competitors like the Fiat 500 Abarth. There were a number of complaints about our Veloster Turbo's fuel economy during our year behind the wheel. At 24 miles per gallon, this Rally Edition managed to come in just under the EPA-estimated 25-mpg city rating, improving measurably on the less than 22 mpg Senior Editor Miersma returned in his long-term wrap-up. Still, we were four mpg below the 28-mpg combined rating in what was largely mixed driving. Aside from the unchanged powertrain, the Rally Edition brings a lot to the Veloster Turbo package worth liking. The inclusion of a B&M Racing short-throw shifter makes this gearbox not only easier but also far more enjoyable to manipulate, although the gearing is still too tall for our taste. The shift knob is just the right size, and the shift action feels rifle-bolt precise. It is delightful, aside from an annoying, almost inexcusable flaw, which you can see in the video below.