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Hyundai Sonata, Future Vehicle, Sedan
#5237 of 5331 Hyundai profit soars
Nov 08, 2011 (4:56 pm)
Remember about 3 years ago when the good but bland Sonata could only be sold with rebates of around $2000. Now Hyundai is selling every Sonata they can make without any rebate at all. That equals big profits. How big? Looks like they beat Toyota....
My guess is that Hyundai will start soon on their second US factory. They could pay for the whole thing out of the profits of this quarter alone...
Hyundai Motor Profit Increases 21%, Helped by Sonata Sales
October 27, 2011, 4:05 AM EDT
By Rose Kim
(Updates with investor’s comment in fourth paragraph.)
Oct. 27 (Bloomberg) -- Hyundai Motor Co., South Korea’s largest maker of automobiles, reported third-quarter profit rose 21 percent, helped by sales of Sonata sedans and Tucson sport- utility vehicles.
Net income climbed to 1.92 trillion won ($1.7 billion) in the three months ended Sept. 30, compared with 1.59 trillion won a year earlier, the Seoul-based company said in a statement today. The company was projected to report profit of 1.89 trillion won, based on the average estimate of seven analysts surveyed by Bloomberg.
Chief Financial Officer Lee Won Hee said Hyundai Motor will probably sell more than 4 million vehicles this year as they crank up production from factories in markets such as China. The gains will probably lead Hyundai Motor to post record earnings this year and exceed profits generated by Japan’s Toyota Motor Corp., according to analyst estimates.
“The earnings reaffirmed Hyundai’s outstanding competitiveness in overseas markets,” said Lee Jin Woo, senior fund manager at Seoul-based KTB Asset Management Co., which oversees $4.6 billion assets including Hyundai shares. “Industry demand may slow next year amid the global economic downturn but I still expect Hyundai to fare better than global rivals.”
Hyundai Motor, whose shares have outperformed those of Toyota and Nissan Motor Co. this year, closed unchanged at 223,500 won today. The Kospi Index rose 1.5 percent.
For the first nine months of the year, Hyundai sold 3 million vehicles and the company is likely to deliver more than 4 million units this year, Lee said. Hyundai had initially target sales of 3.9 million this year.
In China, demand for mid-sized sedans surged, resulting in monthly Sonata sedan sales climbing above 10,000 for the first time in September. The company also boosted production in Russia, where Hyundai began manufacturing cars last year, after it started to build affiliate Kia Motors Corp.’s redesigned Rio, according to company data.
Nine-month sales in China, the world’s biggest car market, rose 12 percent to 553,000 vehicles, the company said. The company delivered about 510,000 vehicles in Korea, up 7.3 percent, it said.
U.S. sales rose by 20 percent for the first 9 months of 2011, while in Europe, Hyundai’s sales increased 9.4 percent during the first three quarters, it said.
#5239 of 5331 Re: 2011 Sonata base engine Blown Engine at 2000 miles. [azelscotto]
Nov 16, 2011 (12:43 pm)
My 2011 Sonata some how has lost 4-5 quarts of oil. They are blaming me because I missed an oil change. 16,000 miles and a blown engine. Now they have cancelled my warranty and will not pay for a rental car. I asked them why there is not oil level indicator light? With that simple devise I would have gotten a warning and then I could have topped off my car with a quart of oil. They say that the bottom line is that I forgot to change the oil. Therefore I am responsible for all of the car's problems. A brand new car burning 5-6 quarts of oil over 5,000 miles.
#5240 of 5331 Re: 2011 Sonata base engine Blown Engine at 2000 miles. [rkouchi]
Nov 26, 2011 (3:26 am)
The Sonata has a low oil pressure light (the dripping oil can light.) It will illuminate if the oil level is low. Page 4-57 of the owner's manual.
Hyundai is notorious for not honoring the powertrain warranty if they see any sign that the oil was not changed in accordance with the service intervals in the manual.
My 2011 Sonata's oil level hardly changes over the course of 4,000 miles between changes. I make sure to check it every 2-3 weeks (something I have done in every car I have ever owned.) My car has 21,500 miles on it at this point and will be going in for its 6th oil change soon.
Losing all 4.86qts of oil from the engine makes no sense. How long has it been since your last oil change? Did you notice any leaks under the car, or blue smoke coming out of the exhaust? Did you smell the oil burning? Was the engine running hot?
The car is designed to go 7,500 miles between oil changes under "normal" driving conditions. If you greatly exceeded the 7,500 mile window and this happened, I could see Hyundai's feathers being ruffled. However if it was less than 7,500 miles then I would demand for a Hyundai engineer to come out and evaluate the engine before denying warranty coverage. Have you called Hyundai and opened a case with them?
Something does not make sense here at all.
#5241 of 5331 Re: Largest Hyundai Dealer [schdy]
Jan 20, 2012 (4:47 pm)
Actually the largest Hyundai dealership in the United States for the last 12 years is Atlantic Hyundai in West Islip, NY (Long Island). They are followed by Newport Richey, FL then Brad Benson comes in at #3. Brad Benson became #1 for one month in 2009 during clunkers when they did not participate in the program and everyone was out of cars.
#5242 of 5331 Reply: 2011 Sonata base engine Blown Engine at 2000 miles. [ryster]
Jan 21, 2012 (6:42 am)
ryster: I agree with checking the oil periodically with the dipstick. Same issue comes up on other brands and owners complain they were not warned by the car. The oil life indicators cause lots of confusion.
Hopefully Hyundai will not get a reputation for wiggling out of their great warranty because the market will punish them. However, certain owners and bashers on these sites seem determined to undermine the brand for other reasons. We saw that big time on the Buick forum.
Our 2012 Sonata will go in for oil change at 3000 first time and 3-5000 after that depending on service. tires need rotation every 5000 so that may be the plan. We feel that a car is a BIG expenditure that needs owner involvement and commitment in maintaining the operation and the warranty coverage.
#5243 of 5331 Re: Reply: 2011 Sonata base engine Blown Engine at 2000 miles. [crankeee]
Jan 22, 2012 (9:36 am)
I check my oil in all my cars once a week. I have a 2005 Elantra, 2005 Sonata GLS and a 2011 Limited. I have had NO problems with any of my cars. Hyundai makes a great car.
#5244 of 5331 2011 Hyundai Sonata Warranty Problems/Bad Service
Jan 22, 2012 (3:57 pm)
I purchased a 2011 Hyundai Sonata last May 2011, and it has been a complete nightmare dealing with Hyundai since then. The car first had problems at 4000 miles. The suspension had strange sounds, and it took them 2 months to fix it. Originally, they claimed I was imaging the sounds. I had to file 4 complaints to their corporate office to get the dealership to fix it. I got the car back in mid October, hoping that all the problems were gone. Unfortunately, early this month, another problem happened. The car had loud sounds when turning. Hyundai once again denied I had problems. I had to take it in twice, before one of their mechanics agreed with me that the car was making sounds. Now, they claim the control arm and crossmember assembly is damaged, and that it is not included under warranty. They quoted me $1400 to fix it! I told them that these parts are under warranty. They claim that this damage happened by driving on rough freeways, and therefore Hyundai is not responsible. I filed another complaint with Hyundai Corporate Office last week. They got back to me. They don't want to cover it. I told them, your parts are defective. I drive this car to work daily, and if the car is so delicate it can be driven on freeways, then Hyundai is lying to the public about its product. I filed a complaint with the New Vehicle Motor Board last week, and submitted a claim to the BBB Auto Line. The New Vehical Motor Board was not surprised at my complaint. They told me that get many complaints on the 2011 Hyundai Sonata. I read somewhere that the BBB Auto Line is a complete joke and waste of time. Right now, I just want to get rid of this car. It is a complete lemon, and Hyundai Service is awful. It is unfortunate I lost so much money since they car is already paid for. I can't believe the car is less than 7 months old and so many problems.
#5245 of 5331 Re: 2011 Hyundai Sonata Warranty Problems/Bad Service [zolte77]
Jan 23, 2012 (8:00 am)
SIGH....what did you leave out in your narrative about a damaged crossmember (one of the most structurally robust car parts as it retains the engine/transaxle assembly. Same for the control arms) In all my years of driving and dealing with automobiles those parts are almost never damaged except when the car is involved in: A.) an accident, and a bad one at that. and B.) when someone runs over that odd truck tire/wheel, muffler or other bits of auto/truck cast-off in the travel lane of any highway. So, what did you run over?? Oh, there is the odd "rusted out" crossmember on various brands that got that way due to a design flaw compounded by poor winter car clean-up to remove salt and other corrosives. As for the "many complaints " I suspect most of those (I will have to check on exactly how many is MANY!! ) refer to the left pull issue that certain 2011 Sonatas exibited. So, in short to have a crossmember/control arm become damaged in "normal" use is pretty rare....read non-existent for the most part.
#5246 of 5331 Re: 2011 Hyundai Sonata Warranty Problems/Bad Service [targettuning]
Jan 23, 2012 (1:06 pm)
That's exactly what I was thinking. For the crossmember to be damaged he had to have hit something in the road and doesn't want to own up to it. I've worked with Hyundai, GM, Volkswagen, Suzuki and Toyota and have never seen one of those vehicles come in with a damaged crossmember that the warrant paid for. He's just gonna have to own up to it and either pay to fix it or get rid of the car.