Hyundai Motor Co

Although consumer demand for EVs hasn't shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off.For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike,…

Hyundai Motor Group is the world's third-largest automaker in the world by volume — but it wasn't always so. In the late 1980s and 1990s, Hyundai cars suffered ridicule in America for being cheap and low quality. But that is no longer the case.The three auto brands in the automaker's stable — Hyundai, Kia and Genesis — are nipping at the heels of well-established competitors, and winning an ever-growing list of industry awards. "The Hyundai that we see today, especially from an American perspective, would surprise people…

Aptiv's 2024 profit forecast of USD 5.55 to USD 6.05 per share includes a non-cash equity loss of about USD 340 million, or USD 1.20 of earnings per share, related to Motional's losses.Aptiv will reduce its stake in self-driving technology joint venture Motional and will stop further funding after incurring millions in losses related to the investment, the auto parts supplier said on Wednesday.Motional, a venture between the company and Hyundai Motor Co, uses the South…

The total addressable market for new and used car sales in the U.S. is estimated to be somewhere between $2.5 trillion and $3 trillion, according to the National Automobile Dealers Association.And e-commerce behemoth Amazon is attempting to do what insiders say no one has been able to do yet: bring a seamless online shopping experience to a complex and highly regulated industry.Last month, the company officially began its pilot program to allow a small number of Hyundai dealers to sell vehicles through the Amazon platform…

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesDETROIT – Chinese automakers pose a growing threat to their American counterparts — even without selling directly to consumers in the U.S. market.Sales of China-made vehicles are rising at notable rates in Asia, Europe and other countries. China recently reported exports of more than 5 million vehicles in 2023,…

Mary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022.Source: NYSEDETROIT — Monday marks 10 years of Mary Barra's tenure as CEO of General Motors, ushering in a crucial year for the Detroit automaker and for her legacy.Over the past decade, Barra has been a dynamic executive, guiding the company through high-profile crises as the first female leader of a major automaker. Under her stewardship, GM has seen record profits, cultural changes and major achievements, including beating Wall Street…

If all goes well, Japan will become at least the fourth country with a moon mission this year, making lunar exploration more active than it's been in five decades. The renaissance is being led by nations not usually considered leaders of the space race, which is an important development for the entire planet. In truth, launching a large tin can at the moon in the hopes of sticking the landing is challenging and fun, but it's not a money maker. Anyone hoping to spin a dime is better off staying grounded and finding ways…

United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT – The United Auto Workers has filed unfair labor practice charges with the National Labor Relations Board against Honda Motor, Hyundai Motor and Volkswagen, accusing the automakers of unlawfully interfering with worker organizing, the union said Monday.UAW alleges management at facilities for Honda in Greensburg, Indiana; Hyundai in Montgomery, Alabama;…

2023 Prius Prime on display, April 6, 2023.Scott Mlyn | CNBCDETROIT – As sales of all-electric vehicles grow more slowly than expected, major automakers are increasingly meeting their customers in the middle.More and more companies are reconsidering the viability of hybrid cars and trucks to appease consumer demand and avoid costly penalties related to federal fuel economy and emissions standards.The shifting strategies run counterintuitively to industry-wide EV messaging of recent years. Many auto companies have begun to…

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. Brendan Mcdermid | ReutersThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayNovember breatherU.S. stocks ended Thursday mixed, with the Dow Jones Industrial Average, the only major index to fall, snapping a…