A recent conversation with a blubber-lined autojourno archetype:
He: “What’re you driving this week?”
Me: “2014 Hyundai Santa Fe Limited”
He: “I hate crossovers. People should just buy wagons. In Europe…blahblahblah…diesel…estate….shooting brake…nomnomnom…where’s the bar?”
Koo-Koo-Ka-Choo, my friend The Walrus doesn’t get it.
Everybody on the internet knows that buying new cars is just plain stupid. New cars, after all, are just “depreciating hunks of metal.” New cars depreciate an average of 20% immediately, and then go down another 15% each year after that, according to sources such as KBB and Edmunds. According to every message board I’ve ever read, buying a new car will probably cause you to lose your house, get divorced, and be sent to the Chateau d’If for thirteen years.
But how true is that? And if it is true, does it matter? Let’s find out.
Speaking at a preview event for the next-generation Hyundai Genesis, Hyundai CEO John Krafcik defended his company’s decision to forgo establishing a seperate luxury channel for cars like the Genesis and Equus. While the rationale put forth usually revolves around the exorbitantly expensive pricetag for launching a new brand and an all-new sales network, Krafcik put it from another angle.
Bowing at the LA Auto Show is the Veloster Turbo R-Spec, aimed at pulling in tuner-oriented shoppers through a halo inversion designed to, someday, have them drive away in a Genesis sedan.
Hyundai unveiled their entire 2014 Elantra lineup at the LA Auto Show with the aim of introducing to the world their much-improved elements of fun driving.
The Hyundai Sonata is the oldest car in its segment and a new model is expected next year. Normally, when a car is about to be replaced by the next generation of that model, automakers usually start increasing incentives to move the metal. Sonata sales are down 11% from last year. Now, Hyundai has slashed production of its midsize car, allowing it to reduce incentives to the second lowest in the segment. Average incentive spending on the Sonata is down to ~$2,200. Only Honda’s Accord, with about $840 in incentives available is discounted less.
At Hyundai’s technical center near Ann Arbor last week, the company’s CEO John Krafcik told reporters that the Korean automaker will introduce new versions of its Sonata and Genesis sedans to the U.S. market in the first half of 2014. The company will also launch a hydrogen fuel cell powered version of its Tucson crossover, sold in Europe as the ix3d, and it is expected to be unveiled at the Los Angeles auto show this week. The 2015 Sonata will likely be introduced at the New York auto show next April. (Read More…)
After consumer complaints over quality issues in its home market of Korea and a string of recalls there, in the U.S. and other countries. Hyundai Motor Group’s president for research and development, Kwon Moon-sik and two other executives in charge of engineering and electronics have resigned. The shakeup comes as the automaker prepares some important new vehicle launches.
Fuel cells are back in the news, with Toyota revealing the FCV concept and Tesla CEO Elon Musk comparing fuel cells to bovine excrement. Now Hyundai says that they are preparing an electrically driven CUV powered by a fuel cell for a North American debut next year. Just before he was apparently forced to resign over quality control issues, Kwon Moon-sik, Hyundai Motor Group’s president of r&d, told a media event that the Korean automaker sees fuel cells and not batteries as the future for EVs. He said that money is the reason, seeing greater opportunities to reduce the cost of hydrogen fuel cells than batteries.
“There is no problem with the technology — only with the cost and profitability,” Kwon said of battery EVs. “We cannot make a profit with them.” (Read More…)
Hyundai used the SEMA show to announce a new crate engine program starting in December that will offer the company’s Lambda 3.8-liter, direct-injected V6 and Theta 2.0-liter, turbocharged 4-cylinder engines to aftermarket tuners at significant discounts over the cost of similar replacement engines.
Just days after the 2015 Hyundai Genesis was spied in the flesh, these renderings were revealed. The car will get its official debut at NAIAS in January, 2014. Unlike the last generation, the new Genesis will have AWD.
It sure would seem so. Despite the best efforts of our IT crew, the TTAC Staff Robot is unable to read Korean,but we can read the word “Genesis” on this car’s front plate.
The head of Hyundai Motor Company’s U.S. sales unit, John Krafcik told the Bloomberg news agency that the continued partial shutdown of the United States government is affecting consumer confidence and may result in as much as a 10% drop in October sales. Krafcik said that the political impasse in Washington is creating “anxiety” for many people.
Kia has big plans for America. The Korean brand that was written off in the 1990s, and is best known for making inexpensive cars with long warranties, isn’t planning an assault on the mass market. Kia has bigger plans: compete head on with Lexus, BMW and Mercedes. Say what? Yep. By 2017 Kia promises they will be ready. Rather than leaping right into the market, Kia is dipping their toes into the murky waters of the near-luxury pool. In many ways the near-luxury segment is a harder place to compete. This segment is full of aspiring brands trying to move up (Buick and Cadillac), brands that are floundering (Acura), brands that are treading water (Volvo and Lexus’s FWD models ), brands trying to expand down (Mercedes with the CLA) and brands that have no idea what their mission is (Lincoln). Into this smorgasbord lands a sedan that managed to be the most exciting car I have driven this year and the most awkwardly named. Now that I have that spoiler out of the way, let’s dive into the Credenza. I mean Cadenza.
I own an 06 Sonata with the 3.3. It is paid off and has 79,000 miles on it. I love this car. (Read More…)