Several Chinese sites have caught shots of the next-generation Hyundai Accent [via autoincar.com] just prior to its reveal at the Beijing Auto Show. Styling-wise, the Accent appears to combine equal parts Y20 Sonata and Genesis Coupe, in a compact four-door package. The coupe-like profile looks to limit visibility somewhat, but no more so than other examples of the current trend towards bunker-like interiors. Otherwise, we’re looking at a fairly stylish little sedan that should help Hyundai keep its momentum building in the US market. And what of the long-available three-door Accent? Hyundai will likely be replacing both that budget hatch and the Tiburon sports coupe with the Accent-based Veloster sporty hatch.
Building on solid financial results in the fourth quarter of last year, Hyundai has announced today that it turned a net profit of about $1.02b (as in billion) in Q1 2010. That shatters a previous record of $650m, recorded in the second quarter of last year, and eclipses last year’s $203m Q1 net profit. According to the Detroit News, Hyundai raised sales revenue by nearly 40 percent last quarter, with global gross receipts hitting $7.6b. Sales volume was up 36.6 percent, to 842,037 units. Though the Chinese and Indian markets drove growth with 48 and 34 percent volume increases respectively, the big news comes from the US, where Hyundai’s volume grew 78.3 percent and revenue gained 61.5 percent. And if Hyundai’s margins seem surprisingly attractive, consider that the dollar’s recent declines against the Korean Won bled off some of that US-market profit. Oh, and that billion-dollar profit doesn’t include results from Hyundai’s sister-firm Kia, which reports Q1 financials tomorrow. Get down with your bad self, Hyundai!
Driving enthusiasts love to hate the Toyota Camry. Yet, despite the company’s current troubles, it remains the best-selling car in the United States. Hyundai would love to steal the crown, or at least tens of thousands of customers. So it recently launched a totally redesigned 2011 Sonata and will be advertising it heavily. Should Toyota be concerned?
Ask the good folks from Hybridcars.com what today’s big news was, and they’d probably point to their own scoop, titled Hyundai Has Prius-Killer in the Works. It can be hard for blogs to get OEM reps on the phone, and Hyundai’s product public relations manager Miles Johnson walked an enticingly vague line:
We are studying a dedicated Prius-fighter vehicle, meaning a hybrid-specific nameplate that isn’t based off a Sonata or a Santa Fe. It’s its own thing. We’ve also been studying plug-in hybrid technology, which is a bit farther out for us, but the near-term would be a Prius-sized vehicle… You can look at the dimensions of the Blue Will concept and see it would be a similar package and size to a Prius.
With Hyundai launching its first US-market hybrid, the Sonata, later this year, this is yet another sign of the big H’s relentless momentum, right? Well, not exactly…
Free market economics are a simple process. Or so they say. Dive in, and whoever survives, survives. Let the market decide. According to the pure tenets of free market economics, it’s important that the government shows no favoritism. Yeah, right.
The Korea Times reports that President Lee Myung-Bak is showing more than just interest in Hyundai-Kia. (Read More…)
Hyundai has announced that its Equus luxury sedan will launch with a “multimedia tablet” (widely speculated to be an Apple iPad) instead of an owners manual. Not only would a tablet be easier to navigate (in theory) than a giant manual, it would also allow owners to schedule maintenance right from the car. Is this the end of the owner’s manual as we know it?
Hyundai and KIA combined for an 18 percent sales increase last month, moving 77,524 units between the two brands. Hyundai saw less dramatic increases, up “only” 15.4 percent over last March. Accent (4,233) and Elantra (8,225) sales were weak compared to last March’s recession fever, but big jumps in Sonata (18,935), Santa Fe (9,548) and Tucson (3,084) volumes kept the momentum going. Sorento (9,156) and Soul (5,106) led KIA’s volume, with Forte (4,830) softening and Optima (3,633) actually gaining. Meanwhile, the fact that other brands were binging on incentives, trying to meet the Koreans on value, means this performance is especially impressive. At least it will be when we have March’s incentive numbers. Full sales numbers after the jump.
Hyundai’s Sonata would be a quantum leap forward for the Korean firm under any circumstances, but with a direct-injected standard model, a new hybrid model and now a twin-scroll turbocharged model, it also offers three of the hottest technologies in the business today. The turbo version makes 274 hp, 269 lb-ft of torque while still achieving an estimated 22/34 mpg, making it a V6-free performance option in the crowded midsized segment. Too bad it won’t be available with a manual transmission.
Hyundai’s just-unveiled Sonata Hybrid is the latest step in the Korean brand’s assault on the American automotive landscape, and it looks to have been a good one. No licensed bits from Toyota here, in fact Hyundai’s new powertrain does away with Toyota’s powersplit-CVT concept, simply replacing the torque converter on its automatic transmission with a starter-generator motor and a high-efficiency oil pump. Ok, maybe not simply. (Read More…)
Joel Ewanick is a name you’re probably not familiar with. I wouldn’t blame you, he works in Marketing, which is a pretty dull affair. However, you may be familiar with his work. He helped bring Hyundai to the mainstream with clever and well executed marketing plans. The Hyundai Assurance Plan (lose your job, return your car) was his idea. Not to mention during 2009, when the car industry was failing, his marketing plans helped Hyundai increase market share and even turn a good profit. Advertising during the Superbowl? His idea. Advertising at the Academy Awards? His idea again. Hyundai’s market share grew from 3 percent to 4.4 percent as of February (according to data from Autodata). To cap it all, he was named Marketer of the Year 2009 (the year of carmageddon) by Advertsing Age. So why am I writing about him? Well, he’s leaving Hyundai. (Read More…)
Quick, want to guess what the single piece brings more traffic to TTAC than any other? Thanks to an early Korean-spec test (don’t worry, further tests of the US-spec model are forthcoming) and the blessings of good Google rankings, our 2011 Hyundai Sonata review has been our single biggest source of traffic over the last several months. But getting a review out early isn’t the only reason so many folks are finding their way to TTAC by way of the Sonata: people are researching the car like crazy. Kelly Blue Book lists the Sonata as its number four most-researched vehicle, as does Edmunds.com, indicating that it’s poised to play with the perennial chart-toppers from Honda and Toyota. Meanwhile, Kia still has yet to make the jump to mainstream prominence, although its version of the Sonata (still unfortunately named Optima) could be an important step in Korea’s bid to make inroads on the US market. Certainly its Peter Schreyer-designed lines won’t have anyone confusing the Optima with a decontented Sonata.
Volkswagen’s range of BlueMotion cars are their flagship “Look at us! We’re bluegreen!” vehicles. They employ techniques like a remapped engine, longer gear ratios and better aerodynamics to wring the last bit of mpg out of an ICU. The Blue Oval of Ford has the EcoBoost systems which are engines with a turbocharger or direct injection. That’s said to give power and torque on par with larger engine sizes, resulting in better fuel consumption and lower emissions. Daimler has its Bluetec, a slightly disgusting technology that requires overpriced urea to be added to your Benz – urea, as the name indicates, originally was a by-product of urine. (Now why didn’t the hyperkilometering AutoBild think of THAT?) Anyway, Hyundai wants in on the act. (Read More…)
Hey Sajeev: Long time reader, first time e-mailer. I have a 2001 Hyundai Tiburon that I inherited from my wife when we got married (dowrys are making a comeback!). It has 70,000 original miles and I’ve maintained it properly. Recently a problem arose that the dealer could not point out nor could my personal mechanic (ASC Certified) determine the cause or solution to.
It’s an automatic transmission. Sometimes when starting the car, pushing the release button on the shifter is downright impossible. It’s stuck and won’t engage, which means I can’t shift into gear. After a few moments of wiggling and pushing and jerking (and crying on my wife’s part) it will give and we’ll be on our way.
This doesn’t happen all the time though, it’s once every month or so. Any idea what could cause this and if so, what can I do to fix or prevent it from occurring? We are the only owners of the car and have not raced or abused it. I’ve hunted the forums on the Hyundai fan sites and I can’t find anyone with the same issue.
While Toyota is trying to convince the American public that they’re as American as losing at hockey Wal-Mart, Hyundai is pulling the same stunt over at the other side of the pond. Forbes reports that Hyundai wants to become a card carrying member of the European Automobile Manufacturers’ Association (ACEA). (Read More…)
Recent Comments