Japanese carmakers are becoming increasingly worried about the Korean competition.
Everything looks good for South Korea:
Japan on the other hand: Read More >
Did we say that Toyota is casting a wary eye on Hyundai? The Koreans are on a roll. They are boosting their production capacity in China to 1 million units per year. And they do that right in front of my nose, in Beijing. Read More >
The drawn-out drama of who would get what was left of the busted SAIC-Ssangyong deal has come to an – at least preliminary- end. Oneindia reports that India’s Mahindra & Mahindra bought the pieces of Korean Ssangyong. TTAC readers are not surprised. Read More >
With its lineup now reaching into realms where even Cadillac dare not tread (namely the $65k Equus luxury flagship), Hyundai is filling in the gaps with ruthless focus. Next up: the near-luxury large sedan segment, where Buick’s LaCrosse has been mounting a one-car comeback for GM’s premium brand. But starting next year, the LaCrosse becomes a mild-hybrid model, lifting its base price to near $30k and giving the Azera an opportunity to become a recession-special spoiler. And with handsome Sonata-meets-Genesis Coupe-meets-LaCrosse looks, the next-gen Azera could just be the first luxurious Hyundai to actually bring real sales volume to the brand. The Azera should launch next year as a 2012 model, and as the gallery below shows, it’s already crawling the streets of Korea, bringing the fight to the Daewoo Alpheon [Thanks to Walter Foreman for the spy shots].
There is a lot of euphoria about the IPO, but if you dig into the numbers, they still have a problem in Europe. They are doing worse than when we looked at them two years ago, and it’s going to take a lot of cash to fix Opel. That’s my concern on the IPO.
The Economic Times of India reports that Hyundai is worried about Europe. Hyundai Europe’s Vice President, Allan Rushforth, felt positive about 2010. “This year we’ll probably achieve 2.7 percent market share in a market of around 13.49 million,” he said. But with regards to 2011, he poured cold water on that year. “Next year will be really interesting. We have yet to see scrappage washout – the year-on-year effects of scrappage from the reported registration data…..I think the first half-year will be really, really tough.”
South Korea is a small country. With 48.6 million people crammed into an area roughly the size of Indiana, South Korea has one of the world’s highest population densities. It also has an amazing auto industry. Like Germany in the 50s, and Japan in the 60s, Korea was the laughing stock of the 80s. That arrogant grin has frozen. South Korea is a feared competitor the world over. Let’s have a look at the feisty little runt. Read More >
GM’s Korean partner GM-Daewoo has an Aveo-based “SUV” in the final stages of design development… and it definitely looks like the 2007 “Chevy Trax” concept, right? Wrong. Of course.
Design chief Taewan Kim insists the design is “still not fixed” for production but the detailed study is finished to the sort of standard designers reach before wheeling in The Boss to sign it off as ready for production and the interior ‘mock-up’ looked all but sorted to give the suppliers the go for first off-tool samples. Looks? Cameras were banned but think ‘I shrunk the Capitiva’ and you get the idea.
Don’t know what a Captiva is? Well, do you remember the Saturn Vue? No? Well, there’s a new one anyway… take a look after the jump.
Still not sure what to think of the forthcoming Kia Optima? Stare at it some more while you wait for TTAC to get its hands on a US-market version…
If there’s a maxim the auto industry can take to the bank, it’s this: focus wins. Knowing a brand’s advantages and maintaining a laser-like focus on them is the way to win in the car game, and it’s a lesson Hyundai has clearly learned. Over the last several years, Hyundai has caught the media’s attention by moving into the luxury and coupe segments with its Genesis, but the real offensive is still coming. The redesigned Sonata was the tip of the spear, giving Hyundai a top-notch competitor in the all-important D-Segment, and next up are similarly improved versions of the Elantra and Accent. These three models have been some of Hyundai’s most enduringly successful nameplates, and as this graph proves, they’ve been responsible for much of the brand’s recent sales growth. They’ve even maintained decent momentum towards the end of their model lifes. With the new Tucson replacing the Santa Fe as Hyundai’s top-selling crossover, Hyundai has been able to maintain a competitive crossover nameplate for several years now, but even the hot CUV segment likely won’t provide as much juice to Hyundai sales as the redesigned Elantra and Accent. Meanwhile, Hyundai’s entries into the luxury and sporty space seem to have amounted to little more than a distraction… the lurking danger for every automaker.
This is a big week for TTAC. A really properly big week. We’ve just had our new budget approved, and as a result, we’ve got some masthead changes to announce shortly… including the hiring of the newest member of Team TTAC, who just happens to be one of my favorite auto writers on the whole damn Web. We’re waiting on a few last-minute details before we make these big announcements though, so in the meantime you’ll have to make do with a smaller announcement: though you might not know it from the content that’s gone up so far today, this week will be Korea Week at TTAC.
Why? Because the rise of the Korean automakers has been one of the biggest automotive stories of the last decade. Twenty years ago, just as Japanese brands were gaining mass-market acceptance in the United States, Korean brands were the punchline of America’s new-car market. But like the Japanese before them, the Korean automakers persisted and successfully entered the automotive mainstream, both with their own brands, and as developers of captive imports and global products for American automakers like GM. Now, with the automotive industry still reeling from the economic downturn, Hyundai and Kia are poised to make serious inroads on the US market, with new products that are capturing the attention of the media and the public.
Over the next week, we’ll explore the history of the Korean automakers, their rise to power, and the vehicles that they built along the way. We’ll also be featuring reviews of the newest products coming out of Korea, starting with one of the Web’s first reviews of the 2011 Kia Optima (Korean-Market Spec), directly from our man in Korea. So pull up a chair, break out the BiBimBap, and stand by for a week of Kimchi-flavored coverage here at TTAC!
Did you know that the Volt’s most important and priciest ingredient comes from Korea? The Volt battery is made by LG Chem, the battery arm of the Korean company formerly known as Lucky Goldstar. Noises coming from Korea indicate that GM might be building more Volts than thought. How do the Koreans know that? GM ordered more batteries. Read More >
Well, it seems that the wrecked US-Korean trade pact only affects U.S. food exports to Korea. It most certainly does not seem to have any influence on Hyundai. Hyundai expects to set a company record for annual U.S. sales next week already, and to sell even more in 2011. Read More >
The rest of the world is busy tearing down tariff borders by entering free trade agreements, such as the one between South Korea an the EU. Japan doesn’t want to stand on the sidelines and is in FTA negotiations with the EU. At the same time, the U.S. and Korea yesterday shitcanned their free trade plans. The reason? Cars. Allegedly. Read More >
Hyundai’s Sonata overhaul has been well-received by critics and customers, and the next-gen Elantra looks set to move the magic to the C-segment. But what of the Accent? If there’s a vehicle left in Hyundai’s lineup that recalls the bad old days of Hyundai’s bargain-basement past, it’s the current sub-$10k base price Accent. Of course, that’s all about to change, as a new Accent is hitting the roads in Korea… and like most of Hyundai’s new product, it looks like a huge step up from its predecessor. TTAC’s man in Korea, Walter Foreman, was kind enough to send in this mega-dump of over 80 images of the new Accent, noting
The car is 172 inches in length with a 101.2 inch wheelbase and a height of 57.3 inches. No news on the claimed curb weight yet.The 1.4 liter engine is rated at 108 hp and 37.8 mpg with the 5-speed auto and 42.3 with the 6-speed manual [all mpg numbers on Korean test cycle].The 1.6 liter engine is rated at 140 hp and 39.3 mpg with the 6-speed auto and 42.8 with the 6-speed manual.
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