Toyota owners up for grabs

To say that Toyota customers are up for grabs is an understatement! Waiting for at least one company to throw in a free cruise and free pizza for a year!

From the Detroit News:

Two of Toyota Motor Corp.’s competitors reversed course and said today they will join those offering incentives on trade-ins from Toyota owners.

Chrysler Group LLC and Hyundai Motor Co. are the latest to offer rebates. General Motors Co. and Ford Motor Co. were first to offer $1,000 incentives for Toyota owners through the end of February. Ford today said it also is increasing the amount of money it provides to dealers for advertising to allow them to capitalize on the opportunity created by Toyota’s woes.

Chrysler has spent the last two days mulling a change in its programs and had planned to wait until next week to announce its latest incentives.

Read the full article here.


Photo from fOTOGLIF

  

Hyundai steps up with new 2010 Sante Fe

Hyundai really steps it up with the new 2010 Sante Fe that will reportedly bring in 20/28 mpg, for front drive automatic models with the four-banger.

From AutoGuide.com:

Hyundai continues to deliver significantly improved vehicles, the latest being the 2010 Santa Fe mid-sized crossover, which is set to launch at the Detroit Auto Show. Mid-cycle refreshes rarely get the sort of overhaul that the 2010 Santa Fe has received, with minor interior and exterior updates being joined by two new engines, both of which are more fuel efficient than the engines they replace.

For 2010 the entry level 2.7-liter 4-cylinder has been replaced with Hyundai’s new Theta II 2.4-liter, which delivers 175-hp and 169 ft-lbs of torque – the same as in the new 2011 Tucson. This is less power than the old V6, but a new six-speed automatic transmission and the lighter weight of the 4-cylinder should put the crossover’s acceleration at about the same range. Fuel economy is up significantly (aided by the new six-speed transmission) from 18/24 mpg (city/highway) to 20/28 mpg, for front drive automatic models.

Read the full article here.

  

Hyundai shows off the 2011 Sonata at LA Auto Show

We all know that Hyundai has been on a tear with quality products priced to sell. Now the 2011 Sonata that was shown at the LA Auto Show could accelerate their climb up the sales charts. What are your thoughts from what you’ll read and see in the gallery from the link below?

From Car and Driver.com:

Think what you will about the ever-expanding “four-door coupe” theme—now applied to everything from luxury SUVs to mainstream sedans—but you just can’t help but be seized by the design of the new 2011 Hyundai Sonata debuting at the L.A. auto show. (Even if there appears to be plenty of Volkswagen CC and even a bit of Toyota Camry Solara to its looks.) Styled in the company’s California studio, the Sonata is strikingly swoopy and all creased up with Hyundai’s new design language called “Fluidic Sculpture,” which we’re told we’ll be seeing a lot more of in the future.

Read the entire article and check out the gallery here.

  

Hyundai to build third North American assembly plant

Here comes Hyundai!

Reports state that the hard charging Korean car maker is going to build their 3rd North American assembly plant in Mexico with production beginning in 2013. It’s amazing how fast Hyundai is growing in NA with all the stiff competition they face….Can they keep up the growth on their own? Time will tell.

According to Edmunds, the government agency Promexico has confirmed that negotiations with Hyundai are well underway. The new factory will likely be built in the Mexican state of Veracruz – which, coincidentally, is the same name as the company’s luxury crossover.

The new plant would build the Hyundai Accent and Kia Rio, boosting the Korean automaker’s North American output by 150,000 units. Construction could begin as soon as 2012, with the plant expected to be up and running by 2013.

  

Hyundai gets agressive in the U.S.

hyundai-elantra-2009

Hyundai has begun a major marketing push in the United States with increased sales and the weakening Korean won.

U.S. car sales plunged to a 27-year low in January, dragging down Detroit’s Shrunken Three and even mighty Toyota Motor (TM). But one automaker has bucked the trend: Hyundai Motor. The Korean company, whose name was once synonymous with cheap, logged a 14% sales gain in what was a dismal month for almost every other carmaker.

It’s too soon to say whether that marks the start of a trend that could see Hyundai emerge from the shadow of its larger Japanese rivals, Toyota and Honda Motor (HMC). For one thing, the jump owes much to Hyundai’s 22% drop in sales in January 2008. And the company has piled on the discounts. Incentives on its Sonata sedan, Santa Fe SUV, and other models average $2,611 per vehicle—about triple those of a year ago. Faced with bloated inventory at its single U.S. factory in Montgomery, Ala., Hyundai has scaled back production there and is unloading cars on rental-car agencies: Nearly 30% of the 24,500 vehicles it sold in January went to such fleet buyers at virtually no profit.

Hyundai can afford to sell its cars on the cheap, at least for a while. Its balance sheet is far healthier than those of its Detroit peers. And it’s getting a big lift from the weak won. The Korean currency has dropped by nearly a third against the dollar in the past year, so Hyundai pockets more cash from each car it sells in the U.S. Toyota and Honda, on the other hand, are seeing their earnings wiped out by a yen that is hovering at a 13-year high. Brokerage Korea Investment & Securities figures more than half of Hyundai’s projected $1.5 billion profit in 2009 will come from the favorable exchange rate. “The currency swing has been a godsend for Hyundai,” says Park Kyung Min, chief executive of Seoul fund manager Hangaram Investment Management.

As the other auto companies have reigned in advertising, Hyundai is devoting ore resources to marketing, evn buying ads during the Super Bowl and the Academy Awards.

  

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