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Hyundai Motor reports company developments tied to its global automotive business, including U.S. sales performance, electrified vehicle demand, model launches, and customer programs. Recurring updates from Hyundai Motor America feature vehicles such as the IONIQ 5, IONIQ 5 N, IONIQ 9, Tucson Hybrid, Palisade, Santa Fe, and Elantra HEV.
Company announcements also cover product awards, safety and connected-service features, ownership programs such as Hyundai Rewards and Bluelink, education partnerships, community relief initiatives, and vehicle-development collaborations across passenger, commercial, hybrid, and electric vehicle categories.
Hyundai Motor unveiled its new 'Hyundai Way' strategy at the 2024 CEO Investor Day, outlining ambitious goals for electrification and sustainable growth. The company aims to increase global sales to 5.55 million units by 2030, a 30% rise from 2023, including 2 million EV sales annually. Hyundai plans to introduce new EREV models with over 900 km range and expand its EV lineup to 21 models by 2030. The strategy also focuses on enhancing hybrid offerings, advancing battery and autonomous vehicle technologies, and strengthening its position in the hydrogen value chain. To support these initiatives, Hyundai will invest KRW 120.5 trillion through 2033 and implement a new shareholder return policy, including a share buyback scheme of up to KRW 4 trillion from 2025 to 2027.
Hyundai has released pricing details for the 2025 Elantra family, showcasing an expanded lineup and improved value. Key highlights include:
1. The Elantra Hybrid Blue now starts at $26,250 (including destination), a $1,150 reduction from the 2024 model.
2. Introduction of a new SEL Sport trim for both ICE and hybrid powertrains, priced from $24,150 and $28,225 respectively (including destination).
3. The Elantra Hybrid Blue offers segment-leading EPA estimated fuel economy of up to 54 MPG combined.
4. The SEL Convenience package is now a standalone model, simplifying the shopping experience for customers.
5. The lineup continues to offer a range of trims, including SE, SEL Sport, SEL Convenience, , N Line, and N models, with prices ranging from $21,875 to $35,450 (excluding delivery charge).
Hyundai Motor America has released pricing details for the 2025 Sonata lineup, introducing a new entry-level SE trim with a starting MSRP of $26,650. The SE trim offers comprehensive standard features, including a 12.3-inch touchscreen and wireless Android Auto and Apple CarPlay. The SEL Convenience package is now a separate trim.
The 2025 Sonata offers three powertrain options: 2.5L, 2.5 T-GDI, and 2.0L Hybrid. The SEL trim with a 2.5L GDI engine starts at $27,750 MSRP, with optional HTRAC All-Wheel Drive available. The Sonata Hybrid starts at $31,000 MSRP, while the high-performance N Line starts at $35,250 MSRP. All prices exclude the $1,150 delivery charge.
Hyundai and Kia have received a significant credit ratings boost from S&P Global, upgrading them to 'A-' with a stable outlook. This follows similar upgrades from Moody's and Fitch earlier in 2024, placing the Korean automakers in the same category as global giants like Mercedes-Benz, Toyota, and Honda.
The upgrade is attributed to strong profitability, driven by a smart product mix and a balanced focus on electric and hybrid vehicles. S&P Global highlighted the companies' increasing market share, particularly in the U.S., where their SUVs are performing well. The agency expects Hyundai and Kia to maintain strong profit and cash generation, even in a challenging global automotive market.
This achievement underscores Hyundai and Kia's growing influence in the global mobility sector and their successful strategy in navigating the industry-wide transition to electrification.
Hyundai Motor and Kia have achieved a significant milestone in 2024, receiving upgraded ratings from all three major global credit rating agencies: S&P Global, Moody's Investors Service, and Fitch Ratings. Both companies' ratings were raised to 'A-' by S&P and Fitch, and 'A3' by Moody's, putting them on par with industry leaders like Mercedes-Benz, Toyota, and Honda.
The upgrades were driven by robust financial performance, with strong predicted double-digit profit margins and cash flow. Other contributing factors include improved product competitiveness, strong market positioning in electrification, and flexible production capabilities. This achievement solidifies Hyundai Motor and Kia's positions as global mobility industry leaders, reflecting their continued growth and strategic advancements in the automotive sector.
Hyundai's IONIQ 5 N has won Car and Driver's 2024 EV of the Year award, marking Hyundai's third consecutive win in this category. The high-performance electric SUV, Hyundai's first electrified N model, offers 641 horsepower with N Grin Boost engaged. It features innovative technologies like N e-shift, which simulates an 8-speed dual-clutch transmission, and N Active Sound+, providing selectable powertrain soundtracks.
The IONIQ 5 N aims to deliver engaging performance without sacrificing daily usability, embodying N brand's electrification vision. It comes in a single, fully-equipped trim with advanced driver-assistance and safety features. This award follows the success of the IONIQ 6 (2023) and standard IONIQ 5 (2022), highlighting Hyundai's strong position in the EV market.
Hyundai has been named the top mass-market brand in the J.D. Power 2024 U.S. Tech Experience Index (TXI) Study for the fifth consecutive year. The study evaluates user experience with advanced vehicle technologies during the first 90 days of ownership. Additionally, the 2024 Santa Fe won the Mass Market Infotainment and Connectivity award for its phone-based Digital Key technology.
Hyundai's Digital Key feature allows drivers to start their 2024 Santa Fe using a smartphone app and Near-Field Communication (NFC) technology. This innovation reflects Hyundai's commitment to advancing vehicle technology and ensuring customer satisfaction. The company's focus on user-friendly features and cutting-edge tech has contributed to its consistent recognition in the J.D. Power study.
Hyundai Motor Company (HYMTF) has received a credit rating upgrade from S&P Global, moving from 'BBB+' to 'A-' with a 'Stable' outlook. This achievement marks Hyundai's attainment of an 'A' rating from all three major global credit agencies in 2024, following upgrades from Moody's and Fitch earlier in the year. The upgrade reflects Hyundai's strong market position, solid profitability, and robust cash flow.
S&P Global cited Hyundai's improved market share, enhanced product mix, and favorable exchange rates as key factors contributing to the company's marked profitability improvement since 2021. The agency also highlighted Hyundai's balanced portfolio of EV and hybrid models as a strength for adapting to market changes during the electrification transition.
Hyundai Motor America and Children's Hospital Los Angeles (CHLA) hosted a child passenger and pedestrian safety event at Hyundai's national headquarters in Fountain Valley, California. The event, part of CHLA's Injury Prevention Program, featured a child safety seat check and pedestrian safety training. Certified Child Passenger Safety Technicians educated parents on correct car seat installation and usage, while families experienced LA Street Smarts, a life-size neighborhood replica teaching pedestrian safety techniques. This initiative is part of Hyundai Hope, the company's corporate social responsibility program aimed at improving community well-being through health and safety support.
Hyundai (HYMTF) has secured six product wins in the 2024 Newsweek Autos Awards, showcasing the strength of its vehicle lineup. The 2024 Hyundai Elantra was recognized as the Best Vehicle for First-time New Car Buyers and Top Pick for Urbanites. The IONIQ 5 received three accolades, including Top Pick for Tomorrow Seekers, Suburbanites, and New Parents. Additionally, the IONIQ 6 was named a Top Pick for Tomorrow Seekers.
Olabisi Boyle, senior vice president of product planning and mobility strategy at Hyundai Motor North America, emphasized the company's commitment to delivering beautifully designed, high-quality, and safe vehicles that cater to diverse customer needs. Hyundai's significant U.S. operations, including manufacturing facilities and R&D centers, contribute $20.1 billion annually and 190,000 jobs to the U.S. economy.