TWO HYUNDAI MODELS NAMED 2011 “BEST BETS” FROM THE CAR BOOK
Genesis and Sonata Recognized for Meeting the Safety and Performance Needs of the American Car Buyer
FOUNTAIN VALLEY, Calif., 02/24/2011
Two Hyundai models, Genesis and Sonata earned the distinction of “BEST BETS” from The Car Book and the Center for Auto Safety, the nation’s leading auto safety advocacy group. For Genesis, this is the third year in a row that it’s been honored with the “BEST BETS” distinction.
“We appreciate the fact that Hyundai has made a significant contribution to improving the market choices for the American car buyer,” said Jack Gillis, author, The Car Book. “During these most challenging times for the auto industry, the fact that Hyundai vehicles have the quality and features most important to today’s car buyer is a testament to their
desire to meet customer needs.”
For 31 years, The Car Book has selected vehicles for the “BEST BETS” honor, based on how well they respond to the safety and performance needs of today’s consumer. The Car Book analyzes new vehicles each year to identify those making a significant contribution to improving the market. “BEST BETS” vehicles are rated in nine key Car Book categories: crash tests, safety features, rollover, preventative maintenance, repair costs, warranty, fuel economy, complaints, and insurance, with the heaviest emphasis on safety.
“Having two Hyundai models named as ‘BEST BETS’ by The Car Book demonstrates our continued commitment to excellence in quality, value and design for all of the vehicles in the Hyundai lineup,” said Scott Margason, director, Product Planning, Hyundai Motor America. “The Genesis and Sonata are prime examples of models that not only meet but exceed customer expectations in safety and performance.”
Hyundai’s all-new 2011 Sonata represents a modern approach to the traditional midsize sedan segment by using only advanced four-cylinder engines, emotional design and luxury features offered with Hyundai’s strong value proposition. The Sonata launched with a new Theta II 2.4-liter gasoline direct injection (GDI) engine and in-house sixspeed automatic transmission and also offers both hybrid and turbo powertrain options.
Hyundai’s 2009 North American Car of the Year-winning Genesis sedan sets a new benchmark in the premium car category. With a starting price of just $33,000, Genesis includes performance and luxury features typically found on vehicles costing thousands of dollars more including Smart Cruise Control, touch-screen navigation, electronic parking brake with automatic vehicle hold, Adaptive Front Lighting System (AFLS), Lexicon® audio systems and electronic active head restraints.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai’s 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance.
HYUNDAI SONATA NAMED A BEST CAR FOR COMMUTERS BY FORBES
FOUNTAIN VALLEY, Calif., 02/18/2011
The 2011 Hyundai Sonata, acclaimed for it’s modern approach to the traditional midsize sedan segment, made the Forbes list of this year’s Best Cars for Commuters. Forbes recognizes Sonata’s fuel efficiency, reliability and space to get drivers through daily commutes with ease.
The 2011 Hyundai Sonata, acclaimed for it’s modern approach to the traditional midsize sedan segment, made the Forbes list of this year’s Best Cars for Commuters. Forbes recognizes Sonata’s fuel efficiency, reliability and space to get drivers through daily commutes with ease.
“More than 42 million Americans spend at least 30 minutes in the car on their morning commutes. Seven million spend over an hour,” said Forbes auto reporter, Hannah Elliot. “For that kind of time spent in
traffic, it pays to have a reliable car: something spacious enough for comfort, small enough to get good gas mileage and durable enough to withstand the occasional fender-bender. This year mid-size sedans like the $19,395 Hyundai Sonata are best for surviving the slog.”
“The 2011 Sonata is a smart buy for commuters looking for class-leading comfort, a large interior and advanced standard safety technologies,” said Scott Margason, director, Product Planning, Hyundai Motor America. “Couple that with a four-cylinder engine producing impressive fuel economy with the power of a
larger V6, and the Sonata is the perfect mid-size sedan choice for drivers commuting to work.”
To compile the list, Forbes started with new vehicles listed as Consumer Reports “Recommended Picks” for 2011. “Recommended Picks” are models that have average or better predicted reliability and that meet Consumer Reports' safety standards and have performed well in accelerating, braking, handling, comfort and other user-oriented tests. Of these vehicles, the 11 with the best combination of highway fuel efficiency,
legroom and headroom made the list. For more information about the Best Cars for Commuters from Forbes, visit http://www.forbes.com/2011/02/08/best-cars-for-commuters-business-autos.html.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by
the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai’s 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance.
HYUNDAI SONATA MOST SHOPPED VEHICLE IN ENTIRE INDUSTRY
Sonata Has Been on More Shopping Lists than Any Other Vehicle in Seven of the Last Nine Months
According to Compete Data
FOUNTAIN VALLEY, Calif., 02/22/2011
Hyundai Sonata, the game-changing midsize sedan with its emotional ‘Fluidic Sculpture’ design and all four-cylinder engine lineup, was the most-shopped vehicle in January according to data from Compete, a Kantar Media company. Sonata has been on more shopping lists than any other vehicle in the industry in seven of the last nine months, continuing to top perennial leaders like Toyota Camry, Honda Accord, Honda Civic and Ford Fusion, according to Compete’s analysis of consumer automotive shopping behavior.
Lead by Sonata, Hyundai demand continued its momentum with more than 268,000 in market shoppers in January, representing a 21 percent increase from December 2010. The all new 2011 Elantra was the second most shopped Hyundai model achieving a six-month high in demand and a 39 percent increase from December. Industry wide, January shopper volume (2.8 million) increased 11 percent compared to January 2010, demonstrating the continued recovery in automotive shopping interest.
“Sonata’s ability to attract and engage consumers over the past nine months has been impressive and they have successfully converted many of these shoppers into actual buyers with Sonata sales up 150 percent in January," said Dennis Bulgarelli, director of Automotive at Compete. “Shopping activity for the entire industry is up 11 percent, starting off what we think will be a strong year for the automotive industry.”
Hyundai’s all-new 2011 Sonata represents a modern approach to the traditional midsize sedan segment by using only advanced four-cylinder engines, dynamic design and luxury features offered with Hyundai’s strong value proposition. The Sonata launched with a new Theta II 2.4-liter gasoline direct injection (GDI) engine and in-house six-speed automatic transmission. The vehicle offers class-leading fuel economy of 22 mpg city/35 mpg highway and 198 horsepower standard. Sonata is also available in Turbo and Hybrid versions, with Hybrid achieving class-leading 40 mpg highway fuel economy.
With many safety features, including Electronic Stability Control, Traction Control, and Anti-lock Braking System, Sonata was the first midsize car to receive a five-star crash test rating under the National Highway Traffic Safety Administration’s new, more stringent 2011 system and an Insurance Institute for Highway Safety Top Safety Pick honor, placing it in a safety position unsurpassed in the industry.
“A year after its initial launch consumers continue to be attracted to Sonata’s exciting design, best-in-class fuel economy and outstanding residual value,” said Mike O’Brien, vice president, Product and Corporate Planning, Hyundai Motor America. “Starting off the year as the most shopped vehicle, Sonata is picking up right where it left off in 2010, when it set its U.S. sales volume record.”
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai’s 10- year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance
Hyundai's U.S. Sales Soar Thanks to Stylish, Fuel-Efficient Designs
By DAVID SCHEPP Posted 10:00 AM 02/18/11
Last year was hardly a banner year for auto sales in the U.S. In fact, with a mere 11.6 million vehicles sold, it was one of the worst in recent memory. Still, depressed demand didn't stop a few car companies, including Hyundai and Kia, from setting sales records.
Hyundai's U.S. sales rose 24% to nearly 540,000 units last year, a new record that helped the automaker claim 4.6% of the American market, its highest share yet. Kia, meanwhile, set its own milestone, selling nearly 357,000 cars and utility vehicles, a 19% increase compared to a year earlier.
The fortunes of the two companies, which share a corporate headquarters in Seoul, South Korea, but market their products separately in the U.S., have been buoyed by their ability to build well-designed, affordable and fuel-efficient vehicles that consumers want to buy. (Hyundai Motor owns about 39% of Kia Motors. Together they form the world's fifth-largest automaker.)
One example is Hyundai's Sonata midsize sedan (pictured). Redesigned for the 2011 model year, the Sonata largely received glowing praise from the automotive press for its sweeping styling -- Hyundai calls the design "fluidic sculpture" -- high-quality materials and construction, and good driving dynamics.
Those qualities have also helped make the Sonata a hit with consumers, too. The 2011 Sonata, which debuted in late 2009, sold nearly 200,000 copies in the U.S. last year, a 64% improvement over prior-year sales of the previous model.
On the heels of the successful Sonata, Hyundai has introduced revamped versions of the Tucson small SUV and Elantra compact sedan, which also feature the company's now-signature swooping design. Soon to follow is a refashioned Accent subcompact, which will make its American debut at the New York International Auto Show in April.
These vehicles are very competitive within their segments, says David Sullivan, an analyst with AutoPacific, an automotive research firm. "Hyundais are no longer vehicles that you should be embarrassed to own or want to aspire to own," he says, referring to earlier Hyundai models that offered U.S. consumers little more than a low sticker price.
Setting Design Trends Rather Than Following Them
Previously relegated to rental-car fleets, Hyundais have been transformed, offering pleasing interiors and sophisticated engines that are as good as anything Japan or Germany can churn out, Sullivan says. Much has changed from the days when Hyundais were a source of jokes for Detroit's auto elite, he says. "Hyundai is looking at many of them in the rear-view mirror right now."
The company credits its sales momentum in the U.S. to its focus on two key strategies: design and fuel economy -- 86% of the vehicles Hyundai sells in the U.S. are equipped with 4-cylinder engines. It's a recipe that no other carmaker has managed to pull together in quite the way Hyundai has, says John Krafcik, president and CEO of Hyundai Motor America, the company's U.S. subsidiary, based in greater Los Angeles. "I think that explains a lot of our success."
The initiative began about six years ago, when Hyundai Motor Chairman Chung Mong-koo challenged Hyundai's product-development team to lead the industry in design, rather than follow trends set by other automakers. The first product to emerge from that mandate was the Genesis coupe, which began U.S. sales in mid-2009, receiving mainly enthusiastic reviews.
The design concept, for the first time, gave Hyundai its own look and feel, says Krafcik, a veteran of the U.S. auto industry. Previously, Hyundai models were perceived as little more than knock-offs of cars manufactured by Asian competitors Toyota Motor (TM), Honda Motor (HMC) or Nissan Motors (NSANY). "We don't hear that anymore with our new designs," he says.
Demand for Elantra Far Exceeds Supply
Still, Krafcik says, unique designs don't always equal sales success. Two recent American-made examples of novel concepts that didn't meet with auto buyer approval were the 1996 Ford Taurus, which incorporated Ford Motor's (F) signature oval logo into everything from the dashboard to the rear window, and the 2001 Pontiac Aztek, one of several unappealing designs from General Motors (GM) that industry icon Bob Lutz compared at the time to "angry kitchen appliances."
The Genesis, 2011 Sonata and Elantra are all products of Hyundai's design studio in Southern California, which it shares with Kia. The Tucson, which features the same "fluidic sculpture" styling theme, was created in the company's European design studio in Germany.
As with the Sonata, the redesigned Elantra, which hit U.S. dealerships late last year, has seen demand increase significantly. Sales were up 25% in January to nearly 9,700 units. Krafcik says Elantra sales could surpass the 200,000-unit sales record set by the Sonata if they could manufacture enough of them, but admits the company doesn't "have anywhere near the capacity for that level of volume."
Hyundai's sole U.S. plant, in Montgomery, Ala., recently increased capacity to 330,000 cars annually. After subtracting Sonata and models destined for export markets, such as Canada, that leaves manufacturing capacity for only about 70,000 Elantras.
The company believes it can easily sell more than twice that number, Krafcik says, so it will begin supplementing U.S. made vehicles with production from Hyundai's plant in Ulsan, South Korea. With capacity to produce 1.6 million vehicles a year, it is the world's largest automotive plant.
Plans call for the company to build 400,000 cars in the U.S. this year, including the Hyundai Santa Fe SUV, production of which was shifted to Kia's West Point, Ga., plant last fall, and sell slightly less than 600,000 cars in total in the U.S.
Hyundai Loses Ground on its Home Turf
Krafcik says Hyundai has no further plans to expand production in the U.S., citing the extraordinary costs involved in building new plants -- on the order of billions of dollars. "But we'll certainly look at how we do this year, see where the demand is [and] see where the demand is going."
Asian automakers, generally, are under increased pressure to manufacture cars and trucks in the foreign markets where they sell them as a hedge against foreign-exchange volatility that can pinch profits. The strong yen, for example, has led Toyota Motor President Akio Toyoda to suggest that his company may move some production out of Japan.
While Hyundai has enjoyed sales success in the U.S. and other markets, its fortunes on its own home turf in South Korea have come under threat from imports, including BMW, Volkswagen (VLKAY) and Toyota. Hyundai saw its domestic market share slip 5 percentage points last year to a decade-low of 45% even as the South Korean auto market expanded 5%, according to Reuters.
It won't be easy for Hyundai to gain back lost market share as imported cars continue to flood into the market and sister make Kia Motors continues to gain ground, Dongbu Securities analyst Yim Eun-young told the news agency.
In an interview, the company acknowledged it faces an uphill battle. "Our strong growth is well-received overseas, but we didn't get that proper recognition from Korean consumers," Sean Kim, senior vice president and head of Hyundai's Domestic Marketing Group, told Reuters. "Our priority is regaining trust and pride from consumers by doing everything from promotion, marketing and better product offering."
The home office might want to take some cues from its U.S. subsidiary, which seems to be firing on all cylinders.