“I think it’s fairly interesting from a cultural memory standpoint, that American car buyers, for the most part, don’t seem to have memory of gas prices two, three or six months ago,”
Tag: john krafcik
TrueCar founder Scott Painter and former Hyundai North America CEO John Krafcik both announced that Krafcik is now president of the online automotive shopping company.
From this week’s Automotive News, editor Jason Stein talks to former Hyundai CEO and now TrueCar board member John Krafcik about connected cars
“Do you notice that as we talk about increased connectivity in the car, we are also talking about being less connected with the car?” Krafcik asks through a phone line. “Connectivity and autonomy. Sounds like those are at odds with each other, hey?”
Automotive News reports that Hyundai CEO John Krafcik will be stepping down from his post as of January 1st, at the completion of his contract. While this would normally be the sort of thing reported by TTAC Staff, Krafcik has been as influential as former EIC’s Bertel Schmitt and Ed Niedermeyer in my understanding of the auto industry.
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.
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.
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.
If it weren’t for auto bloggers, the question of a separate Hyundai luxury brand would have been dead and buried long ago. But auto bloggers, with a desperate need to generate news out of thin air, won’t let the story die. 224,000 Google results later, and we finally have a definitive answer.