Hyundai Motor Company
Automotive industry company news
Hyundai has just added a limousine at the top of its Genesis line-up, and revealed a concept preview of a BMW 3 Series sized sedan. Between...
How often do we hear of GM being humbled by Hyundai? That’s what’s been happening in Australia in recent weeks, as the Korean brand has over...
The really interesting stuff all happened as this week drew to a close - yesterday Volkswagen 'fessed up over the 'dieselgate' scandal and, today, Tata Motors' English luxury vehicle unit Jaguar Land Rover finally confirmed the location for its new manufacturing plant.
A highlight for me in the last week was a go in what Nissan UK bills its third generation Leaf - the 2016 update with an optional longer range 30kwh battery that fits in the same space, weighs 21kg more and propels my favourite EV about 25% further - a theoretical 250 kilometres or, in old money, 155 miles.
We'll permit ourselves a small 'told you so' this week after Jaguar Land Rover finally confirmed it would build the Range Rover Evoque in Brazil from early 2016, as well as the previously confirmed Land Rover Discovery Sport - which Our Man in Brazil first reported last May. JLR had said earlier it would only do 'new' models at the plant, but our sources said otherwise, and it makes sense to do the country's top selling JLR model locally as it (a) gets the price down, increases supply and frees up capacity at the Halewood, England, mother ship. And the high local content encouraged in Brazil allows local variation to suit market needs. JLR also now makes the Evoque at a joint venture in China (again, this gets the price down in a tax-protected market) and also assembles some models in India (ditto). All of which frees up UK capacity.
One of the major reasons for Kia's phenomenal rise in recent years is its ability to produce specific models in and for the markets where they are sold. It's a 'think globally, act locally' approach.
"In future, all energy will come as electricity." Those words are not from some environmental activist or soundbite politician, but from a senior figure within the auto industry, which perhaps makes them all the more surprising.
The Fukushima nuclear reactor disaster which followed the Japanese earthquake and tsunami in 2011 might inadvertently provide a foot in the door for sales of hydrogen fuel-cell electric vehicles to take off, believes the man in charge of Hyundai-Kia's FCEV research and development, Dr Sae-Hoon Kim.
Domestic sales by South Korea’s five main automakers continued to grow strongly in March, by 11.7% to 148,848 units from 127,216 units a year earlier, according to data released individually by the vehicle manufacturers.
Hyundai Motor Group has presented its roadmap for connected car development and says it will collaborate with leading global IT and networking companies to develop its ‘Hyper-connected and Intelligent Car’ concept.
March was a month of surprises. Analysts were surprised when Easter and spring break holidays played hob with their sales forecasts. General Motors might have been caught off guard when the fleet sales it tries so hard to avoid helped Ford leapfrog it into the top spot for March. Nissan set an all-time record and bumped American Honda down to sixth place among the major automakers.
Kia Motors is planning to enter the Indian car market and supply it from a new car plant in India, according to media reports in India.
There is strong evidence Indonesia will eventually replace Thailand as the main automotive production hub in the Association of Southeast Asian Nations (ASEAN), according to Ipsos Business Consulting.
Hyundai Steel is ready to start operations at a new US$44m steel plant in Mexico this month.
The new vehicle market in Vietnam continued to expand in February, by over 16% to 11,168 units from 9,604 units a year ago, according to data released by the Vietnam Automotive Manufacturers Association.
Australians bought 96,443 new passenger cars, SUVs and commercial vehicles in February 2016, just over 6,000 (or 6.7% more) than in February 2015. The strong start to the year has seen new car sales increase 4.8% year-to-date.
New vehicle sales in China rose 7.7% year on year to 2.5m units in January, according to data released by the China Association of Automobile Manufacturers (CAAM).
Leading South Korean carmakers Hyundai Motor and Kia Motors said their combined sales in China fell by over 22% year on year to 122,486 units in January, according to preliminary data released by the companies.
Hyundai Motor has reported a profit fall for the eighth consecutive quarter, with net profit in the quarter ended 31st December down by 2% to 1.6 trillion won.
Hyundai Motor on Thursday said it wants to sell 77,000 of its first dedicated petrol-electric hybrid model globally in 2017, 80% more than its total hybrid car sales in 2015, as it tries to meet emissions regulations in key markets.
New vehicle sales in China jumped by 15.4% to 2.8m units in December, from 2.4m units in the same month of last year, according to data released by the China Association of Automobile Manufacturers.
New vehicle sales in the Philippines rose by over 25% to 26,679 units in December, lifting full-year sales by 22.9% to 288,609 units in 2015 from 234,747 in the previous year.
Automakers are shipping more sport utility vehicles to the United States from Japan and South Korea to meet strong demand, according to a report from the Detroit show.
Like neighbouring New Zealand, Australia saw a new car sales record in 2015 with 1,155,408 new passenger cars, SUVs and commercial vehicles sold. Volume rose 3% year on year in December to 99,616.
Hyundai Motor unveiled its first purpose-built hybrid vehicle, the Ioniq, at a pre-launch viewing at its Namyang R&D Center just outside South Korea's capital city Seoul.
Hyundai Motor and affiliate Kia Motors have set a combined global sales target of 8.13m units for 2016.
Hyundai Motor and Kia Motors last month were ordered to sell a combined 6.6% stake in affiliated steelmaker Hyundai Steel, worth around US$376m, to comply with local chaebol (family conglomerate) ownership regulations.
European new car sales experienced a 27th consecutive month of growth during November 2015 with volume up 13.5% year on year, the second largest rise this year, according to analysts at JATO Dynamics. This followed a significant slowing of growth during October as a consequence of smaller increases in the 'Big Five' EU markets.
Hyundai Motor's top executive has said the outlook for next year was "not bright".
Hyundai Motor launched its new EQ900 flagship saloon model range this week, to be sold under the company’s new Genesis luxury brand designed to take on global luxury brands such as BMW and Mercedes-Benz.
As one who has worked 'down in parts' in a previous life I have not a little sympathy for the warehouse and counter men and women at Hyundai Motor Company Australia's spare parts operation.
We're well used to China-only models from the long-established foreign automaker players there like Volkswagen and General Motors but now even the (relative) newcomers are getting in on the act.
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Hyundai Motor Company (005380) - Financial and Strategic SWO
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- THE WEEK THAT WAS - VW agrees a deal with the US
- RESEARCH SNAPSHOT - Moving closer to self-driving
- THE WEEK THAT WAS - Diesel developments
- Ford launches new EcoBlue 'Euro VI' diesel engine
- JLR achieves aluminium recycling milestone
- BEIJING 2016 - world premieres list
- Ford ‘not interested’ in Fiat Chrysler tie-up
- Ford books record Q1 pre-tax profit