Toyota Fearing Hyundai?

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Comments

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Give me the Camry still. ;) The Hyundai is a POS.

    Rocky
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    I don't know about that, my sisters Camry goes into the shop like clock work. My Elntra made it to 131,500 miles before anything went wrong. Wifes Accent 95K no issues, daughters Elantra 80+K and no issues. Many people on thses forums report the same.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Okay, you haven't had the best luck. We have a few Hyundai owners at work and report the same issues with their POS Korean Hyundai DVD player on Wheels. I teel em' you should got ya a real car like a GM. :P

    Rocky
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    You have people at work who also say they get over 100K miles without anything going wrong? Cool. Our Hyundais have been as reliable or more so than any car I ever had.

    FWIW I also have a caddy, but drive the hyundais as the daily drive.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    I know about your CTS-V. it's the coolest of your rides. ;) Why ? Because it's an american muscle car. :D

    I guess I'm just not a Korean fan.

    Rocky
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Nope the coolest of my rides is the Zephry but only because of the style.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Wrong !!!!!! It's still your CTS-V. The Zephyer can't and never will hold a candle to a Caddy anything. BTW what is the 0-60 time on that pretend CTS ? 0-60 in ZZZZZZZZZZZ' :sick: <-asleep

    Rocky :P
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Pretend CTS?????

    Anyway I think the 0-60 time is around 45 seconds.

    But the look of the car is great.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    But the look of the car is great.

    I agree with you here. Just wished Ford would put atleast 300 hp. in it. :(

    Rocky
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Ah its clear that while you know about my Caddy but don't know about the Zephyr.

    http://en.wikipedia.org/wiki/Image:Lincoln_Zephyr.jpg

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • nippononlynippononly SF Bay AreaMember Posts: 12,726
    Hehe, OK, you will have your version and I will have mine.

    The Elantra has 5 more cu ft than Corolla and Civic in the cabin, which puts it in a higher size class at the EPA, but for all intents and purposes these cars are the same size, and will be cross-shopped. The Camry and Accord are worlds apart from Elantra in interior room, real-world room for actual human passengers. If the EPA thinks they will be cross-shopped with Elantra, EPA is wrong IMHO.

    Check out some stats:
    HEAD ROOM (f/r)
    Elantra 39.6/38 in
    Civic 39.4/37.4
    Corolla 39.3/37.1

    Does a half an inch make the car so much bigger it qualifies not to be compared with Civic/Corolla?

    LEG ROOM (f/r)
    Elantra 43.2/35
    Civic 42.2/34.6
    Corolla 41.3/35.4

    How about a whole inch? Does that change things? Oh, wait, it's more a case of a shuffle, as Corolla actually puts more room in the rear than Elantra, thereby reducing leg room in front.

    How about the all-important SHOULDER ROOM (f/r)?
    Elantra 53/55.6
    Civic 53.7/52.4
    Corolla 53.1/53.5

    Again, all about the same, a little more here, a little less there.

    Make sure to examine the comparisons the government data are providing. The EPA uses arbitrary size classes to distinguish between models, for its own purposes. That its consumer website then uses those classes for vehicle comparisons is a weakness of the site. But Elantra most assuredly is being cross-shopped with compact cars like Civic, Corolla, Focus, and Cobalt, not much larger cars like Camry and Accord. Again, IMHO.

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    OMG. *Gulp* okay. I was thinking NEW, you knot head :P

    Snake, it's no longer April Fools Day, you really fooled me :P

    Well if you have one of those old cars, that cool. The new one needs a little work to be great like the original. ;)

    Rocky
  • w9cww9cw Member Posts: 888
    The Camry is a fine car, absolutely no question about that. I've owned one, and can attest to this. But, I also own a Hyundai Elantra, and I assure you, a POS it is not. If someone hasn't owned a recent Hyundai, or any other make of car, his or her opinions on that vehicle hold no weight, and are meaningless.

    On the other hand, I've owned a Ford, an Olds, a Chevy, and still own a Dodge Grand Caravan (which has one of highest depreciation rates of any vehicle I've ever owned, including Hyundai), however, I will refrain from using certain semantics describing my poor experiences with these vehicles. Needless to say, the experiences have not been good.
  • goodegggoodegg Member Posts: 905
    Sure - your Elantra is not a POS. That was harsh Rock.

    But many people don't want to buy Korean, let alone Hyundai. The styling screams cheap. But I guess they are low priced. Toyota or Honda isn't courting the cheap sector of business. That's apparent. Hyundai/Kia is.
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Hehe, OK, you will have your version and I will have mine.

    No you have your version, I presented the governments version. I didn't make up these classes the EPA did, all I did was report it.

    but for all intents and purposes these cars are the same size, and will be cross-shopped.

    I have the older, smaller Elantra and I have sat in the current Civic, there is a noticeable difference.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Snake, it's no longer April Fools Day, you really fooled me

    Sorry I didn't mean to fool you. I have mentioned it on these forums before and thought that most people I deal with on a daily basis here would have seen that if they seen me talk about the Caddy.

    I agree that the new one is nice but needs work. Its needs more power and a stick.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • jimmy81jimmy81 Member Posts: 170
    The styling screams cheap.

    Screams is putting it mildly. When you buy a Kia or Hyundai you won't be mistaken for the top sales guy in your company.
  • w9cww9cw Member Posts: 888
    jimmy81 wrote: "When you buy a Kia or Hyundai you won't be mistaken for the top sales guy in your company."

    Perhaps, but maybe more frugal, less ostentatious, and knows the value of a dollar . . .
  • iluvmysephia1iluvmysephia1 Alamogordo, NMMember Posts: 7,615
    perceptions can be different in a society that lets you use your brain for yourself. Now, I could care less what somebody who buys a Honda Accord or Toyota Camry or Chrysler 300 thinks about how my Kia Sephia or Kia Sportage looks. That's for starters.

    For seconds, I see a lot of design intelligence and even design prowess in Kia designers over Honda and Toyota. I'm talking about body style right now. Take my current rig, a 2001 Kia Sportage 4x4. IMHO it blows away the looks of the Honda CRV, it's "cute-ute" competitior. I also prefer it's looks to that of the Toyota RAV4, another competitor. To me it's not even close which rig looks better in it's body design.

    As far as mechanicals, my Kia came with a 10 year, 100,000 mile Long-Haul Warranty. I needed it a few times, for things like power window regulators, a gas cap and even a radiator. Not a big deal, the SUV went in for free repairs while I sipped marginal coffee, roamed the Kia sales lot and talked to salesmen, watched TV, etc. The time was up before I had a chance to finish my bag of M&M's off usually.

    I've had that SUV for almost 5 years and 111,300 miles now, and just now blew out my first light bulb on the rig(the dome light bulb). It's OEM Hankook tires lasted me 102,000 miles and they weren't ready to blow out at swap-out time, either. These rigs are bargains but they look better than the competition! What's not to like there?

    They're not a step down at all!

    Now, here's a question. Will the South Korean makers be forced to actually lower their prices later when the Chinese cars hit American shores? Remember, Bricklin(Visionary Vehicles Ltd./Chery) claims prices will be 30%-40% lower than existing models for sale now in the U.S. Will Americans buy Chinese rigs, for starters? I mean, first questions first here!

    2011 Kia Soul Sport 5-speed

  • trafficboytrafficboy Member Posts: 14
    175,000 on my 98 accent hatch (original clutch)... nothing wrong yet guys..... I still use it to haul stuff ( hatch is great) I cant let it go... i use my mazda3 sedan for my daily driver (zoom, zoom!!)
  • wonderwallwonderwall Member Posts: 126
    since i bought my elantra, i've had many people ask me if i liked it and then went on to complain about how miserably expensive japanese cars have become and were wondering if they should consider.

    i mean, samsung is no longer really considered crummy electronics and it was a cut rate brand a few years back...
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Sure - your Elantra is not a POS. That was harsh Rock.

    I appologize. It slipped out. I am not a huge fan of Hyundai yet. I do like the fact that they do buy american made Delphi fuel Injectors though. If the Korean cars ever get their american content levels up high, I won't be so harsh. ;)

    Rocky
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    A good combo of it pal. ;)

    Rocky

    P.S. We as americans have proven we can and do make the best parts. :)
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    So your view on a car is the origin of the parts that make it up and not how well all those parts work and perform when put together.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Chairman credited with ratcheting up quality at S. Korean automaker may face embezzlement charges.

    Hyundai Motor Co. has grown faster than any other major automaker in the past few years, but its brilliant prospects have been cast in doubt by the arrest of Chairman Chung Mong Koo, the driving force behind the South Korean company's rise into the automotive big leagues.

    Images of Chung, 68, bowing slightly as he was led from a courthouse in Seoul to jail Friday evoked the scary possibility of another Korean flameout like the Daewoo Group's collapse.

    Chung, one of the most respected CEOs in the auto industry, may face charges of embezzling company funds to create a slush fund to bribe government officials.

    "There is no surprise about the slush funds," said Michael Dunne, president of consulting firm Automotive Resources Asia Ltd.

    "But in Korea, investigations of such a powerful man as Hyundai's chairman are akin to impeaching the governor of the state of Michigan."

    In weighing the implications of his arrest on the automaker, however, it's useful to bear in mind the tumultuous nature of Korean politics.

    This isn't Chung's first stint behind bars. "These guys get arrested and re-arrested frequently," said Daniel Baum, Tokyo-based automotive analyst for consultants HSLD Ltd.

    Chung's father -- Hyundai Group founder Chung Ju Yung -- and his 35-year-old son, Kia Motors President Chung Eui Sun, have had run-ins with the law, too, reflecting the close but fractious relations between South Korea's leaders and the country's powerful chaebol, or family-run conglomerates.

    South Korean President Roh Moo Hyun's crackdown on corruption at big firms has drawn praise from shareholder activists who decry the lack of transparency at Korean companies.

    Chung, for instance, owns only 5 percent of Hyundai Motor, but effectively controls the company through a web of cross-shareholdings with its affiliates. He is grooming his son to succeed him by possibly legally dodgy methods.

    But industry experts also suspect political motivations in the government's pursuit of Chung, a hands-on engineer.

    He is widely credited for Hyundai's remarkable expansion -- it is now the world's seventh-largest automaker -- and its remarkable improvements in vehicle quality.

    Impact of scandal unknown

    In the United States, Hyundai sales have grown fivefold since 1998, to 455,012 vehicles last year; including Kia brand vehicles, sales totaled 730,863.

    As the drama unfolds, most financial analysts are taking a wait-and-see stance. Some say it's unlikely the bribery charges will be deeply explored because many politicians' careers are at stake.

    Others say the investigation will be a major distraction for Hyundai's management, but they don't expect the government to take drastic measures against a company that accounts for 10 percent of South Korea's exports.

    But the pressure is building at a tough time for the company. The strength of the Korean won is cutting into Hyundai's income by reducing the value of export earnings. First-quarter profit at its Kia Motors subsidiary fell 80 percent.

    "This destabilizes the company," Hyundai Motor spokesman Oles Gadacz said. "This man has provided continuity, leadership and vision that risks evaporating if he's convicted and sentenced."

    South Korea lost one of its automakers in the late 1990s when the Daewoo Group collapsed and its Chairman Kim Woo Choong fled the country to evade fraud charges. General Motors Corp. bought some of Daewoo assets, and Kim was indicted last July.

    Samsung belongs to Renault, leaving Hyundai-Kia as the only major Korean-owned automaker.

    Investors likely to be unfazed

    Moody's Investors Service said Friday it did not expect the criminal investigation to have an immediate impact on the credit ratings of Hyundai Motor or Kia.

    It said Chung's arrest was unlikely to erode the group's 70 percent market share in South Korea.

    "Similarly, sales abroad will not be materially impacted, especially in North America and Europe, where customers tend to decide according to price and quality," Moody's said in a statement.

    In the United States, Hyundai has expanded sales rapidly by offering generous warranties. It has the fourth-largest presence among foreign manufacturers.

    Hyundai opened its first U.S. assembly plant in Alabama last year, and Kia recently announced plans to build a factory in Georgia.

    At a media preview in Ann Arbor last week for the Hyundai Azera sedan and Entourage minivan, Hyundai's U.S. executives said the probe had not affected their business.

    "We don't see an impact of that investigation in the United States," said Michael Deitz, a model line planning manager at Hyundai Motor America.

    For now, Hyundai Vice Chairman Kim Dong Jin has assumed operational control of the group.

    "Daily operations will continue as before," Moody's said. "But delays in long-term projects, such as the construction of new plants overseas, may appear."

    Probe snags some plans

    The probe has already disrupted some plans. In March, Chung Eui Sun -- also under investigation in connection with the bribery and embezzlement case -- was barred from traveling to Georgia for the Kia plant groundbreaking. Hyundai also has delayed the start of construction of a factory in the Czech Republic.

    On Thursday, when prosecutors announced that they were seeking an arrest warrant for Chung, Hyundai delayed the release of its first-quarter earnings.

    In granting the warrant Friday, Justice Lee Jong Seok said the sums in question -- Chung is alleged to have embezzled about $106 million -- are large enough that, if convicted, he would probably receive a prison sentence.

    In the late 1970s, he was incarcerated for two and a half months during an inquiry into construction law violations. His father also was embroiled in the probe, but both were cleared.

    Tragedy struck the family three years ago, when one of Chung's brothers committed suicide during a government investigation of a company payment to the government of North Korea.

    Chung aimed at quality first

    For most of his career, Chung Mong Koo worked in the shadow of his flamboyant relatives, running the auto service unit and other firms in the Hyundai Group.

    When his father dismantled the conglomerate in 1998, Chung was put in charge of Hyundai Motor. He already had strong views about vehicle quality from his experience running Hyundai Motor Service.

    Richard Steers, a professor at the University of Oregon and author of a book about the family, said Chung had set a goal by 1999 to match the Japanese in quality.

    "His vision of the future was that there would be 10 car companies standing, and Hyundai was going to be one of those 10."

    Steers, who met Chung in the late 1990s, described him as "a big, stocky guy. He has limited English, but he's very friendly."
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Chung succeeded in improving quality. In the influential Initial Quality Study issued by J.D. Power and Associates, Hyundai ranks alongside the top Japanese brands.

    "The company has enough momentum to survive these kinds of scandalous things," Baum said.

    "While the man used to be much bigger than the company, the company is way bigger than he is." Shareholders are banking on that.

    http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20060430/AUTO01/604300344/- 1148

    What this means to you: If you like giving money to crooks, then you will buy a Hyundai with a smile. :P

    Rocky

    P.S.

    I'm sorry I couldn't resist. :blush:
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Hyundai Motor chairman jailed in South Korea in embezzlement and slush fund scandal

    SEOUL, South Korea -- The chairman of Hyundai Motor Co. was arrested and jailed Friday in an embezzlement and slush fund scandal engulfing South Korea's largest automaker.

    Chairman Chung Mong-koo's arrest came as Hyundai and its affiliate Kia Motors Corp. are aggressively expanding operations to achieve their goal of becoming the world's sixth-largest automaker by 2010. Hyundai said it had put a top executive in charge and all operations were proceeding normally.

    Chung, 68, was accused of embezzling about $106 million in company money to create the slush fund, and of breach of trust for allegedly incurring about $320 million in damages to the company, prosecutors said.

    The investigation, which began last month, has highlighted concerns about transparency at South Korea's ubiquitous family-run industrial conglomerates, or chaebol, known for scandals and lax corporate governance.

    Chung emerged from the Supreme Prosecutors' Office in Seoul after his arrest, before being taken by car to the Seoul Detention Center, just outside the city. He made no comment.

    Vice chairman and chief executive Kim Dong-jin was assuming full responsibility and operational control for Hyundai Motor, "a duty he shared with Chairman Chung Mong-koo," company spokesman Oles Gadacz said after the arrest warrant was issued.

    "All local and overseas manufacturing, sales, marketing and R&D (research and development) operations are unaffected by today's development, and will continue normal operations," he said.

    Hyundai has delayed its first-quarter earnings announcement as well as a formal signing ceremony for the Czech plant as a result of the probe, while Kia has delayed a groundbreaking ceremony for its U.S. plant.

    Auto industry analysts in recent days have said that while Hyundai may suffer some short-term distractions because of the investigation, the long-term impact was unlikely to be large given the company's strong sales.

    Seoul District Court Judge Lee Jong-seok said he had decided to issue the warrant after deliberating all day Friday because of the "heavy" nature of the allegations. Under South Korean law, prosecutors can detain suspects for up to 20 days after arrest before their indictment.

    "The suspect is denying most of the charges and it is feared he could destroy evidence," Lee said.

    Prosecutors said they would continue to investigate Kia President Chung Eui-sun, Chung's only son, but did not plan to seek his detention.

    Hyundai and three of its affiliates -- Kia, logistics unit Glovis Co. and auto-parts maker Hyundai Autonet -- have been raided and key officials questioned in the probe.

    Prosecutors said officials embezzled money from affiliates to create the slush fund and used it via at least two lobbyists to seek favors from the government. The lobbyists have been arrested on charges of receiving money from Hyundai in exchange for promises to help it win construction approvals and permits, and other business favors.

    In 2004, the latest year for which statistics are available, Hyundai and Kia ranked seventh in the world in production at 3,168,694 vehicles, according to wardsauto.com.

    Hyundai, maker of the Sonata midsize sedan and the luxury Equus, has factories in the United States, China, Turkey and India, as well as the one planned in the Czech Republic.

    Kia is building a second plant in China and expects its first European factory to start up in Slovakia at the end of the year. It announced last month it would build its first U.S. factory in West Point, Ga., scheduled to go on line in 2009.

    Hyundai Motor, which relies on exports for about 60 percent of its overall revenue, sold a record 2.53 million vehicles last year, up 11 percent from 2004. Kia sold 1.27 million vehicles, up 13.9 percent.

    http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20060429/AUTO01/604290359/- 1148

    What this means to you ? More Ammo for the Anti-Hykia crowd :P
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    :P

    Rocky
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    SEOUL, South Korea -- The Seoul District Court issued an arrest warrant Friday for Hyundai Motor Co. Chairman Chung Mong-koo in a bribery and slush fund scandal engulfing South Korea's largest automaker.

    Judge Lee Jong-seok told The Associated Press that he decided to issue the warrant because allegations against Chung are "heavy" and there are concerns that he may destroy evidence if he is not detained.

    Prosecutors on Thursday sought the warrant to arrest Chung on suspicion of embezzling company funds to create a slush fund and of damaging the company.

    Vice Chairman and CEO Kim Dong-jin will assume full responsibility and operational control for the automaker, "a duty he shared with Chairman Chung Mong-koo," company spokesman Oles Gadacz said in a statement.

    "All local and overseas manufacturing, sales marketing and R&D operations are unaffected by today's development and will continue normal operations," Gadacz said.

    http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20060428/UPDATE/604280433/- 1148/AUTO01
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    SEOUL, South Korea -- State prosecutors Thursday requested an arrest warrant for Hyundai Motor Co. Chairman Chung Mong-koo amid a bribery and slush fund scandal that has rocked South Korea's largest automaker.

    Prosecution spokesman Kang Chan-woo said that the arrest warrant was requested for Chung, while his son, Kia Motor's Corp. President Chung Eui-sun would continue to be investigated without being detained.

    The request is subject to court approval. It was not immediately clear when a decision would be made on approving the request.

    Prosecutors have been investigating the Hyundai Automotive Group since last month over suspicion it embezzled money from affiliates to create a slush fund and used the money, via at least two lobbyists, to seek favors from the government.

    "It is very shocking," Hyundai spokesman Jake Jang said of the warrant. "Hyundai executives are all in a panic. The absence of Chairman Chung is enormous and its ramifications are beyond description."

    The move comes days after Chung spent about 15 hours Monday at the Supreme Prosecutors' Office in Seoul for questioning over the scandal. Chung's son spent about 18 hours there for questioning last week.

    Hyundai spokesman Oles Gadacz said it wasn't immediately clear if Chung had an attorney.

    Prosecutors have raided offices of Hyundai Motor and its three affiliates -- Kia, logistics unit Glovis Co. and auto-parts maker Hyundai Autonet -- and questioned key officials.

    The lobbyists have been arrested on charges of receiving money from Hyundai in exchange for promises to help the company win construction approvals and permits, and other business favors.

    It is unclear if the lobbyists bribed government officials. It is illegal in South Korea to accept money in return for exercising influence.

    Hyundai announced last week that the Chungs planned to donate $1.1 billion worth of personal assets to society, and that it "apologizes" for causing worries to the public.

    The Hyundai group aims to become the world's sixth-largest carmaker by 2010 and is aggressively expanding overseas production to meet the goal.

    The investigation is taking a toll on Hyundai's operations, Gadacz said, citing "management's inability to focus."

    Hyundai has delayed a signing ceremony for its planned factory in the Czech Republic, while Kia has indefinitely put off breaking ground on its first U.S. plant, in Georgia.

    Hyundai shares, which opened lower, extended losses after the announcement and were down 3.5 percent to 84,000 won ($89). Kia shares rose 1 percent to 19,550 won ($21).

    Hyundai, which was expected to release its first-quarter earnings results Thursday, has delayed the announcement, which Gadacz said may come Friday.

    http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20060427/UPDATE/604270440/- 1148/AUTO01
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    Like the people running Ford, GM, Honda, Toyota, Nissan , Benz and the like are saints?

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • jlawrence01jlawrence01 Member Posts: 1,828
    I guess that our fountain of information has failed to mention that both GM and Delphi are currently undergoing SEC investigations ...

    Wish that he would link to the areicles rather than cut and paste ...
  • kingsalmonkingsalmon Member Posts: 97
    I think Toyota's not the only one fearing Hyundai. Sorry Rocky, but you have too much time on your hands and you're awfully concerned about the success of Hyundai. If not, why bother posting all these negative articles on the company's head? Hyundai's going to be okay.
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Wish that he would link to the areicles rather than cut and paste ...

    Sorry about that... :(

    Rocky
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    I was giving some bad news to the Hyundai fans that say such negative things about GM. It was my ammo back at some. Sorry if I hurt some of ya'lls feelings. :surprise:

    Rocky
  • kdhspyderkdhspyder Member Posts: 7,160
    In addition to the well-documented legal mess the CEO of Hyundai has gotten himself into...

    Declining earnings and the investigation of Mr. Chung, 68, and his son, Chung Eui Sun, who is chief executive of the Kia Motors Corporation, have wiped more than $8 billion off the market value of companies in their industrial group this year.

    Profit may decline this quarter as Hyundai and Kia reported double-digit declines in unit sales last month from March and the won is trading at its highest in eight and a half years, eroding overseas earnings.

    "It's likely to get worse before it gets better, because of the Hyundai Motor chairman's arrest," said Suh Sung Moon, an analyst at Korea Investment and Securities in Seoul


    Link:

    http://www.nytimes.com/2006/05/04/business/worldbusiness/04auto.html

    Hyundai's net is down 38%. I guess ridiculous pricing in the US has nothing to do with it.
  • carguy58carguy58 Member Posts: 2,303
  • carguy58carguy58 Member Posts: 2,303
    "I was giving some bad news to the Hyundai fans that say such negative things about GM. It was my ammo back at some. Sorry if I hurt some of ya'lls feelings."

    Rocky, just because we might buy import does not directly mean that we hate GM. I wish GM fans would stop thinking like that. GM makes a pretty good SUV, BTW.
  • snakeweaselsnakeweasel a Certified Edmunds Poster.Member Posts: 17,600
    What Hyundai fans say bad things about GM? I for one also have a Caddy (thats GM) and GM will be on my radar when I replace my daily drive.

    2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D

  • lemkolemko Philadelphia, PAMember Posts: 15,306
    Could it be that Hyundai is dumping its models at a loss? Didn't the Japanese do this back in the day to gain a strong foothold in NA?
  • nippononlynippononly SF Bay AreaMember Posts: 12,726
    they are selling heavily to fleets to bring their numbers up - not sure that counts as the same thing, but they rival the domestics now in sales to rental fleets, especially the almost-new Sonata.

    2014 Mini Cooper (stick shift of course), 2016 Camry hybrid, 2009 Outback Sport 5-spd (keeping the stick alive)

  • bumpybumpy Member Posts: 4,435
    Could it be that Hyundai is dumping its models at a loss? Didn't the Japanese do this back in the day to gain a strong foothold in NA?

    Naah, the "dumping" claim was a red herring from people who had little or no understanding of currency arbitrage. Back in the mid-80s, the exchange rate and the relative cost of living between the dollar and the yen was such that cars built in Japan sold in the US for a price well below what it would have cost to build them in the US. The domestics griped about it, and the Plaza Accords set in motion a long appreciation (dollar-wise) in the yen which did two things: pushed the Japanese makers to shift production to the US, and made Japanese-built cars vastly more expensive by the mid-90s (this helped to killed off the 300ZX, Supra, 240SX, etc.)

    The Asian financial crisis in 1997 set off a sizeable depreciation in the Korean won, which put Hyundai (as the last surviving independent automaker in Korea) in a situation similar to the Japanese makers in the '80s. However, the strengthening won and weakening dollar in the last 2-3 years heavily eroded the currency differential, putting them in a bit of a revenue bind. Thus, new models built in Korea (Accent, Elantra, and Azera) come with a not-insignificant price jump, and Hyundai's volume sellers (Sonata and Santa Fe) will be built in Alabama.
  • kdhspyderkdhspyder Member Posts: 7,160
    Nice clear explanation and perspective.
  • lemkolemko Philadelphia, PAMember Posts: 15,306
    I have yet to see them. Maybe it's a west coast thing.
  • fintailfintail Member Posts: 53,454
    Might be. There are TONS of rental Sonatas in my area.
  • rockyleerockylee Wyoming, MichiganMember Posts: 13,994
    Well perhaps you don't personally hate GM, but their is plenty that do wish they'd go bankrupt and close it's doors so Toyota can become #1 that much faster. :mad:

    Rocky
  • logic1logic1 Member Posts: 2,433
    Hertz buys a lot of Hyun-Kias - all makes. Budget not so much. Avis has been stocking up on the Hyun-Kia mini vans and cute utes with GM selling the Eclipse Vues mainly to the consumer markets.
  • carguy58carguy58 Member Posts: 2,303
    You know I was thinking about this today I wonder if Hyundai sold to fleets like it does now 2-3 years ago when Finbarr O'n Neil was in charge of the NA Operations.

    The big thing going against the Sonata is its styling. Everey Hyundai fan does not like the way it looks it seems because it has a strong similarity to the 03-04 Honda Accord especially the back end of it. You know I think Hyundai made the same mistake with the Sonata as Mazda and Nissan did in the mid 90's: trying to be a Honda and Toyota clone which proved to be a mistake.

    I don;t see many Sonata's in NJ. The last generation Sonata was pretty popular in NJ but the new one you really don't see it around at all.
  • wonderwallwonderwall Member Posts: 126
    There are tons of 2006 Sonatas in my neck of the woods, but that's because they are built in my state and I guess folks are representin' or something.
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