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Hyundai halts U.S. sales of 2011 Sonata; shares drop

Discussion in 'Other Cars' started by cwerdna, Feb 24, 2010.

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  1. cwerdna

    cwerdna Senior Member

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    Since there's been a bit of buzz about the Hyundai Sonata here lately... :D

    Hyundai reportedly halts U.S. sales of 2011 Sonata - MarketWatch
    UPDATE 2-Hyundai halts U.S. sales of 2011 Sonata; shares drop | Reuters
    http://news.yahoo.com/s/nm/20100224/ts_nm/us_hyundaimotor (it's on the front page of Yahoo as I'm editing this post)



    Surprising about the stop sale... but recalls are nothing new in the auto industry, regardless of make.
  2. priusmiselus

    priusmiselus New Member

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    Don't take me wrong, but is it what Toyota or Prius fans are doing... fishing deep for the bad news in other brands, so they can feel a little better? Not trying to judge anybody here, but that is what it sounded like. ;)

    This a minor issue with far less proportions than Toyota's problem. Actually I believe Toyota was the guinea pig for quality issues, because unlike them, Hyundai identified the problem very quickly.

    I actually have a 2011 on order and dealer said little or maybe nothing is changing in the estimated date of arrival. The car will come with the minor problem fixed. According to him, the company has already figured out a way to fix it on transit. :cool:

    The following article points out well the differences between the proportions of Toyota and Hyundai recalls. ;)

    Hyundai recalls new Sonata due to lock faults | Reuters
  3. tcooper185

    tcooper185 Member

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    I shopped Hyundai a couple years ago when I ended up getting a Camry. Really liked the Sonata, but didn't like that in order to get the options I wanted, I had to get a V6. They've changed that now, and the 2011 looks pretty sweet.

    I actually got a call from that dealer yesterday telling me they had 5 2011's in the showroom and wanted to know if I wanted to take a look. Guess they're not too worried about this issue.

    And besides...it's door locks. Around here, we hardly use them anyway! :)
  4. JimboPalmer

    JimboPalmer Nadir of Wrongness

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    There are many trends here, but one is that the new administration is biased more toward people and less toward corporations, so the auto makers are all going to find themselves in the same situation:
    Government announces recall before manufacturer has a solution to the problem.
    Product liability forces manufacturer to suspend sales until a fix can be invented, produced, and distributed.
    Public Relations forces dealers to fix customer cars before new cars.
    Human nature (greed) will have many times more owners claiming they suffered than actual cars that failed.

    Toyota managed to get a 'Perfect Storm' of these problems but it is the new look for recalls, expect it from now on.
    (Soon we will be like the Cubans, still nursing 50 year old cars along, as no one can afford to be a car maker)
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  5. priusmiselus

    priusmiselus New Member

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    There are several dealers with the 2011 available already. I ordered mine because I want a specific color. The 2011 don't have V6s anymore, just in case you don't know. Go and take a look and drive one... I could swear I was driving a 35-45K luxury car, but for 25K!!!! Very well done.
  6. a_gray_prius

    a_gray_prius Rare Non-Old-Blowhard Priuschat Member

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    Just a few generalizations and exaggerations there?

    I'm going to stay a million miles away from politics. Recalls are typically big news when they involve a lot of cars - like the Ford ones a couple years back. The resulting effects of that are typically the same too. I would also like to see you take on the Toyota defenders in claiming that the government, in the case of Toyota, issued the recall and it was not voluntary. Nothing new under the sun, unfortunately.
  7. chimo

    chimo New Member

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    ..... As opposed to trolling in Prius Chat and providing links to the over-blown media hype on the Toyota recalls. Perhaps it time to look in the mirror. ;)
  8. priusmiselus

    priusmiselus New Member

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  9. Flying White Dutchman

    Flying White Dutchman Senior Member

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    is't that just what others are also doing with toyota?
    also fo a part that toyota is the biggest and a lot of those people dont like the prius?
  10. cwerdna

    cwerdna Senior Member

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    Nope. Not fishing at all. I checkup on many of my stocks every weeknight it came up as I was going thru TM: Summary for Toyota Motor Corp- Yahoo! Finance. It's now aged off to TM: Headlines for Toyota Motor Corp - Yahoo! Finance. At the same time, it ended up on the front page of Yahoo not long after. Yahoo is my default home page.

    Agreed. It's a minor issue compared in terms of the net effect compared to potentially sticky accelerators.
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  11. Tom183

    Tom183 New Member

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    You should be on O'Riely...

    I think in a historical context, we will see that the 8 years prior to Obama were extremely corporation-favorable, and that most corporations (from Hyundai to Toyota to GM) took advantage of this. I think all auto makers selling in the US exploited lax enforcement to increase their profits at the expense of safety - and I'm glad to see a correction. Toyota may have been the first to be exposed, but I guarantee there is more dirty laundry in the other manufacturers' closets...

    Regarding recalls forcing automakers to stop sales: how long should Ford have been allowed to keep selling the Pinto? And do you recognize how easy it would be for manufacturers to cite problems developing a solution as an excuse to keep selling if the government didn't shut them down? And do you also recognize that by shutting down sales of a defective product, the government is actually reducing liability for the auto manufacturer? (by limiting how many people have the defective product)

    Not everything is the socialist conspiracy Glen Beck thinks it is...
  12. chimo

    chimo New Member

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  13. JimboPalmer

    JimboPalmer Nadir of Wrongness

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    Not sure who he is, but based on your confusion about my post I bet I hate him, like this guy with a similar name.
    Bill O'Reilly Official Home On The Web



    While you seem confrontational about it, I said that as well.



    Sigh. I am guessing you some how imagined that I thought that "biased more toward people and less toward corporations" was a bad thing, rather than just a new thing.



    But I AM a socialist, I campaigned for McGovern, Carter, Mondale, and Obama. (I was no fan of Clinton)
  14. BlizzardJ

    BlizzardJ New Member

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    I traded in a '10 Kia Soul (10 months into ownership) for my '10 Prius. The Soul was a good car for the most part; that being said I will never buy a Korean made car ever again.

    And let's not even discuss the depreciation hit I took too, all for giving a Hyundai subsidiary a try :Cry:

    Bottom line: the Koreans are getting better and can make a pretty good car today. But Americans will never look at it in the same light as the Japanese makes. It's sorta like the Lakers and the Clippers, Yankees and Mets.
  15. ljbad4life

    ljbad4life New Member

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    if you think that i have a history lesson for you. Everyone thought the same of the japanese in the 80's and early 90's. Look how things have changed. if hyundai keeps at it who knows what will happen in 10 years. Oh and Hyundai is #4 according to Consumer reports, right behind toyota in quality. Quality and economical is what brought toyota to the top, why couldn't that happen to hyundai?
  16. wildbottom

    wildbottom New Member

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    It's not like you didn't know what you were getting into. You get a natural hit of depreciation right after you drive the car off the lot. That's why you get the most depreciation in the first year. Secondly if you buy a Korean car like Kia/Hyundai you should plan to use it for 5 to 10 years since it got the 10 year warranty.
    Lastly, most cars have a 5 to 6 years cycle before the brand new model comes out. So if you needed car in the meantime, you should have bought a new Toyota/Honda(low depreciation) or get a decent used car.
  17. SageBrush

    SageBrush Senior Member

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    A 4% drop in stock value is a lot for a misbehaving lock. Sounds like the stock is affected by short term speculators.
  18. Comrad_Durandal

    Comrad_Durandal New Member

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    Depreciation is also based on the used car market for the vehicle. Traditionally, Hyundai, Kia, and Mitsubishi have always taken a bath in this department due to the larger number of repossessions on those makes vs. other makes. Hyundai and KIA make good vehicles, but the people who purchase these vehicles have, statistically speaking, gotten their vehicles repo'ed more frequently than those purchasing higher costing models. It's not a jab at the people who purchase one car over another, it's just one of those flukes of financial statistics. :confused:
  19. bisco

    bisco cookie crumbler

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    i passed a hyundai car carrier on the highway today. the hoods were all open and techs were fixing them in transit...
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