2006 Hyundai Sonata Lx Sedan 4-door 3.3l W/leather & Sunroof | Low Reserve on 2040-cars

Auto blog

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 bringing new Veloster model to Chicago

The quirky Hyundai Veloster range is expanding, and we'll see the next take of the Korean automaker's hatchback at the Chicago Auto Show next week. Buried in a release about the company's social media activities, which you can read below, is a line confirming the "reveal of the newest addition to the Veloster lineup."
Mum's the word on what to expect in the world of Veloster, but our best-guess is that it won't be something Earth-shattering. Keep in mind, Hyundai just used the LA Auto Show as its venue to debut the Veloster Turbo R-Spec - a lower-cost, performance-minded version of its hot-ish hatch. Whether or not this new model builds upon the base car (pictured) or the more potent Turbo, remains to be seen.
We'll have the full scoop next week, so stay tuned.

Hyundai sued in Korea over inflated fuel economy claims

Hyundai remains in hot water in its home market after the South Korean Ministry of Land, Infrastructure and Transport alleged that the country's largest automaker, along with Ssangyong, misstated fuel economy numbers on some of its crossovers. Now, though, the country's consumers are going after Hyundai, with a lawsuit from 1,500 Santa Fe owners.
The suit was filed in Seoul Central District Court by a firm called Yeyul. Its spokesperson, Kim Woong, said the suit was a sign that angry consumers could go after the manufacturer if they're wronged by a company's product.
"It is essential that as many affected consumers as possible take part in this lawsuit to show not just the carmaker but the rest of the companies in Korea that you can get a red card if you mess with your customers," Kim told Bloomberg.