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Hyundai-Kia forecasts slowest sales growth in 8 years
Thu, 02 Jan 2014Even with the arrival of the new Hyundai Genesis Sedan (above) and the expected introduction of at least two other new vehicles in 2014, Hyundai-Kia is estimating its sales will only increase by about 4.1 percent this year. Bloomberg has found that figure, which works out to a total of 7.86 million vehicles worldwide, to be lower than average analyst estimates of eight million vehicles. If the automaker is correct, that figure will represent the most sluggish growth for the Korean brands since 2006.
Based on an exchange rate of 1,050 won to the dollar - right now it's trading at anywhere from 1,050 to 1,052 depending on where you look - Hyundai is predicting a 3.8-percent uptick for sales of 4.9 million units, while Kia is expecting a 4.7-percent uptick for sales of 2.96 million units. That exchange rate is predicted to be part of what will hamper sales this year, with a stronger South Korean won making Japanese cars more price-competitive when cross-shopped. It's unclear how Hyundai derived its exchange rate, but 1,050 won to the dollar almost matches the 52-week high for all of 2013.
The company chairman mentioned a "low growth era" in the world economy, and weaker US sales are rumored to at least part of the reason John Krafcik recently vacated the post of Hyundai Motor America CEO, a post that has been filled by executive vice president of sales, David Zuchowski. That unexpected news capped a year in which two top execs resigned over quality issues and recalls and Hyundai agreed to settle a consolidated lawsuit over inflated fuel economy ratings for $395 million.
Hyundai's second Super Bowl ad is a Nice piece of work
Wed, 29 Jan 2014Yesterday, Hyundai unveiled its Dad's Sixth Sense Super Bowl ad, which showed off the 2015 Genesis Sedan and its auto emergency braking system. While a fine spot, it lacked the pizzaz we expect of a commercial for the big game. Hyundai's second half-minute commercial, however, is more of what we expect of a Super Bowl ad.
Starring The Big Bang Theory's Johnny Galecki and with a cameo from comedian Richard Lewis, the commercial sees Galecki trying to woo a woman he comes across at a stop light by complimenting her on her Elantra, which just so happens to be what he's driving. Things go hilariously awry from there.
Scroll down for a full look at the video, and let us know how you think it stacks up next to yesterday's Dad's video.
Hyundai recalling 186k Elantras due to possible headliner detachment
Wed, 10 Apr 2013Following at least one reported incident of a man who claimed his ear was sliced in half following the deployment of his side airbag, Hyundai has announced a recall for certain model year 2011 through 2013 Elantras; specifically those manufactured from November 12, 2010 through March 5, 2013. In these Elantra models, a support bracket that is attached to the car's headliner may become dislodged when the side curtain airbag deploys. If that should happen, occupants may be in danger of a laceration injury by way of the flying bracket.
Hyundai will notify owners of affected vehicles, while dealers will service the dangerous bracket by applying adhesive strips. (Feel free to insert your own duct tape joke here.) The service will be performed free of charge, starting in May of this year. Follow on to read the National Highway Traffic Safety Administration notice, below.