World Auto News & Reviews

The 2011 Hyundai Sonata has only been on sale for a few months, but it’s already winning over many American mid-size sedan buyers, and we’ve been every impressed by what we’ve found in our first drive and review. However, the rakish new Sonata could face a recall. The National Highway Traffic Safety Administration has launched an investigation into about 16,300 Sonatas due to potential steering issues.

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Hyundai is joining Ford and Ally Bank in this year’s crop of auto industry bond issuances. In four tranches Hyundai will sell $1.17 billion in securities backed by car loans, with Barclays Capital, Bank of America Merrill Lynch and Societe Generale handling the issue. Although now is usually a quiet time for such transactions, the ability to get investors’ attention, lower risk and better rates for debts backed by consumer loans have been cited as reasons for such forays into the market.

The entire Hyundai fleet of cars, SUVs and trucks will have a combined average fuel economy rating of a minimum 50 miles per U.S. gallon, if the company meets its long term goals. The Korean automaker would like to achieve that plan by 2025.

“We don’t know specifically how to get there, but we do have a roadmap,” said Hyundai Motor America top executive John Krafcik at the 2010 CAR Management Briefing Seminars, according to published reports. For three years running, Hyundai has had the best fleet fuel economy of any auto manufacturer selling products in the United States.
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In response to strong demand for many of its products, Hyundai says that it is increasing factory capacity at its already burdened North American assembly plant.

Hyundai says that its Alabama plant – which builds the Hyundai Sonata and Santa Fe – is running at the maximum level of overtime. Demand is so strong, particularly for the Sonata, that the automaker has just a 37 day line-wide supply as of August 1 – well under the industry “norm” of 60 days. Many dealers have complained that they have little to no Sonata inventory.
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