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☆ Hyundai's Genesis brand is a dark horse in U.S. luxury vehicle market
  + stars: | 2024-04-05 | by ( Michael Wayland | ) www.cnbc.com   time to read: +5 min
Not only has Genesis made it, the brand has thrived to become a dark horse in the U.S. luxury market with unique styling, unexpected comfort and well-ranked quality. Patricia Wayne, first all-electric GV60 customer and Claudia Marquez (right), chief operating officer, Genesis Motor North America, at Genesis Santa Monica, Santa Monica, Calif., May 26, 2022. Genesis started as a vehicle in Hyundai's lineup but the company announced in late 2015 that it would become its own brand. Genesis sales last year increased about 23% over the prior year to 69,175 vehicles. Muñoz said Genesis will be a "key focus of the plant," which also will produce Hyundai and Kia vehicles.
Persons: Michael Wayland, —, Randy Parker, Claudia Marquez, Parker, Marquez, Patricia Wayne, Genesis, José, Muñoz, Jae Hoon Chang, there's, Stephanie Brinley, that's, Brinley, … Organizations: CNBC, Hyundai Motor, South, Infiniti, Hyundai Group, Hyundai, New York, Genesis, North America, Santa, North American, Porsche, Lexus, Mercedes, Benz, North, Rover, Volvo, P Global Mobility, Kia Locations: South Korean, U.S, North America, Santa Monica, Calif, Lincoln, New York, Georgia, Alabama, South Korea
☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
  + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com   time to read: +6 min
Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.
Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea
☆ Automakers find a tax credit loophole to increase EV leasing and boost sales
  + stars: | 2023-05-13 | by ( Michael Wayland | ) www.cnbc.com   time to read: +6 min
Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn't earn him $7,500 off through a federal tax credit. "I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of why I went in that direction," he said. For a $50,000 EV and a 36-month lease, Chesbrough estimates the full $7,500 tax credit equates to $222 in monthly savings for a consumer. "It also allows them to level the playing field against competitors who get the full tax credit when purchasing." I wouldn't call it leveling the playing field," Watson said of leasing qualifying for the $7,500 tax credit.
☆ Kia and Hyundai are rolling out software upgrades for models targeted by a viral challenge that taught people how to steal them
  + stars: | 2023-02-15 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +5 min
Kia and Hyundai are rolling out a free anti-theft software upgrade for models targeted by thieves. Eligible car owners are being notified by Kia and Hyundai about how to get the free upgrades. Car owners can deactivate the "ignition kill" feature by unlocking their car with the key fob. Car thefts in Denver have risen by 160% since 2018, and most of the thefts are Kia and Hyundai cars, Denver7 reported. Theft rates for some Kia and Hyundai models are so high that State Farm and Progressive temporarily stopped writing insurance policies for some of the models in some cities last month.
☆ Hyundai's best years in the U.S. are set to be tested by the Inflation Reduction Act
  + stars: | 2022-11-23 | by ( Michael Wayland | ) www.cnbc.com   time to read: +7 min
"I think what Hyundai, Kia and Genesis have done is they've really compressed that time frame. Sales of Hyundai and Kia vehicles have risen roughly 61% since 2010 to more than 1.4 million vehicles in the U.S. last year. LMC forecasts Hyundai's sales of all-electric vehicles are expected to represent 9.2% of the U.S. EV market this year. While sales are expected to grow that percentage is seen as the company's peak until at least 2024 or 2025, when the new Georgia plant is set to come online. Munoz said the new Georgia plant is expected to produce 300,000 vehicles annually, with the potential to reach 500,000 in the future.
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