hyundai motor co ltd-2nd prf (HYMOF) Key Developments
Hyundai Launches New 2015 Accent Subcompact Car in South Korea
Sep 15 14
Hyundai has launched the new 2015 Accent subcompact car in South Korea. The Accent has been revamped to create an "upscale" look, with changes to the grille, headlamps, and rear-light graphics. Safety features have also been upgraded to include a tyre pressure monitoring system (TPMS), as well as side airbags. The base variant of the Accent model has latest features worth KRW 390,000, while the top-end variant has received KRW 640,000 worth of new technology. However, the prices of the models have gone up only by about KRW 240,000 to 350,000. The gasoline (petrol)-powered base-variant of the sedan and the hatchback versions have starting prices of KRW 12.97 million and KRW 14.92 million, respectively, while the diesel-powered model has a base price starting at KRW 15.42 million.
Hyundai Motor Company Launches New Sonata Mid-Size Sedan in the Middle East
Sep 15 14
Hyundai Motor Company has launched its new Sonata mid-size sedan in the Middle East. The model features the brand's Fluidic Sculpture 2.0 design concept and the application of the company's latest technologies including Smart Trunk function and Blind Spot Detection. The vehicle has been developed as a result of three years of research and development conducted by Hyundai in the Middle East and around the globe, in order to maximize product competitiveness and satisfy the diverse needs of the Middle East market. It is available on sale across the region.
Hyundai Motor Announces Sales Results for the Month and Year to Date of August 2014
Sep 5 14
Hyundai Motor announced sales results for the month and year to date of August 2014. The company posted an overall sales decline of 5.9% in its global vehicle sales during the month to 357,698 units.
During the first eight months of the year, the company's global vehicle sales stood at 3,235,094 units, up 3.2% year on year.
Hyundai Motor Union Fail to Close Gap
Sep 5 14
Hyundai Motor failed to settle its annual wage talks with its union, breaking away from the long tradition of reaching a tentative agreement before Chuseok, a psychological Maginot Line. On September 2, 2014, Hyundai management and the labor union met again for marathon talks, but failed to narrow their differences, especially on the issue of including fixed bonuses and benefits into regular wages. The management proposed setting up a new committee to discuss the issue ahead of next year's wage talks, but the union dismissed the proposal, demanding that the new wage scheme be implemented immediately. With the last meeting between the two sides before Chuseok, one of the two major holidays in Korea having ended in a stalemate, union leaders started discussions to adjust schedules for possible walkouts coming soon. The 47,000-member union stopped work for 10 hours on August 22, 2014 and August 28, 2014. Following the partial walkout, Hyundai said its output loss was estimated at about 16,500 vehicles worth KRW 360 billion ($350 million). Regular wages are a sensitive issue for local manufacturing firms, especially in the labor-intensive automotive industry, as they serve as the basis for calculating all other payments, including overtime pay. Since smaller carmakers including GM Korea and Ssangyong Motor decided to include bonuses as regular pay last month, Hyundai has come under growing pressure to follow suit. Even though Hyundai Motor is waiting for its own court ruling, its union, along with those of other Hyundai affiliates including Kia Motors and Hyundai Mobis, has demanded that the new wage scheme be implemented right away.
Hyundai Motor Company Launches Production ix25 at 2014 Chengdu Auto Show
Sep 2 14
Hyundai Motor Company has launched the production version of its ix25 SUV at the 2014 Chengdu Auto Show. The model features a large three-slat front grille, swept back headlights with LED Daytime Running Lamps and projectors. The rear has wraparound taillights and a spoiler with integrated brake lights, while the interior has an all-black dashboard. It is to be equipped with a 1.6-litre petrol engine that will deliver 123PS of power and 155Nm of torque, and a 1.6-litre diesel engine producing 128PS and 260Nm. The petrol engine will be coupled with a five-speed manual gearbox, while the diesel will have a six-speed transmission. Both variants are also equipped with an automatic gearbox option. The vehicle is to be launched in India in 2015 and will compete with the Renault Duster and the Ford Ecosport.