COVID-19

Hyundai, Genesis offer job loss protection program

Genesis and Hyundai are offering payment holidays for those who suffer job losses in 2020.

Photo courtesy of Genesis Motors

The programs have two different names, but they're ostensibly the same. Hyundai calls it Assurance Job Loss Protection and the luxury arm calls it Genesis Cares Job Loss Protection. Both have the same goal, protecting their business interests while giving their customers assurance that they can concentrate on their employment situation rather than losing their mode of transportation.

The move comes amid rapid changes in the marketplace caused by the uncertainty of the results from the Covid-19 epidemic.

"We understand the extreme uncertainty created by the coronavirus and the anxiety experienced by our customers, and wanted to tap into Hyundai's legacy of having people's back," said José Muñoz, chief operating officer, Hyundai Motor Company; president and CEO, Hyundai Motor North America. "Bringing back the job loss protection program in this unprecedented time will allow our customers to have one less thing to worry about if something unexpected happens to their employment status."

Both plans offer that the respective company will make up to six months of payments for new owners who lose their jobs and have purchased or leased their vehicle between March 14 and April 30, 2020 through Hyundai Capital or Genesis Finance.

Additionally, for select new purchases through April 30 financed by the two companies, the automakers are deferring payments for 90 days at the customer's request. However, it's only the 2020 Genesis G70 that qualifies for the extended term of payment delay, not the refreshed Genesis G90 or G80.

Originally conceived in January 2009 as a result of the financial crisis, the Hyundai Assurance Job Loss Protection program was the first of its kind for an automaker in the U.S. It reinforced Hyundai's commitment to helping its customers by allowing them to return their vehicle if they lost their job. Today, the program provides six months of payment relief.

Genesis did not sell vehicles in the U.S. until 2017.

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If you've got a reservation, you can now order your 2021 Ford Mustang Mach-E.

Photo courtesy of Ford Motor Company

In a memo to dealers, Ford has announced that it is lowering the manufacturer's suggested retail price (MSRP) of its 2021 Ford Mustang Mach-E, the long-awaited all-electric crossover.

According to a post on the Mach-E forum, the price of the Mustang Mach-E will be $1,000 to $3,000 than initially promoted. The memo states that the Mustang Mach-E Premium will be $3,000 lower than initially anticipated with the all-wheel drive version dropping to $50,800 and rear-wheel drive model now coming in at $48,100.

2021 Ford Mustang Mach-E The Ford Mustang Mach-E will begin arriving at dealership lots soon. Photo courtesy of Ford Motor Company

The Mach-E First Edition, a sold-out top-of-the-line model, will get a $1,000 price deduction. That same drop applies to the Mach-E Select, the base model. That base model has a 230-mile range. Higher price point versions of the Mach-E can achieve up to 300 miles of range.

The price of each vehicle includes a $1,100 delivery charge. Customers are eligible to receive a $7,500 federal tax credit with purchase.

Pricing will apply to all models that have been ordered since the Mach-E was unveiled at the 2019 L.A. Auto Show. The first deliveries of the crossover are expected to arrive in customer hands later this year.

How does the new price compare? The freshly-unveiled Volkswagen ID.4 will start at $41,990 including the cost of delivery, making it about $2,000 less than the new price of the Mach-E Select, which comes in at $43,995 for front-wheel drive models and $46,695 for all-wheel drive variants. The ID.4 will get up to 250 miles on a single charge.

The Tesla Model Y comes in at $49,990 but has more range than the Mustang Mach-E at 316 miles on a single charge and comes standard with all-wheel drive.

Ford and Volkswagen vehicles will rely on private charging opportunities. Both companies have recently announced partnerships with Electrify America, which has two cross-country charging routes available and is working to rapidly install charging stations at private enterprises and in public spaces nationwide.

Volkswagen ID.4 buyers get three years of free charging with purchase. Mustang Mach-E owners get 250-kilowatt-hours of free charging when they buy a Mach-E.

Tesla has a fully built-out electric vehicle charging infrastructure that allows for fast charging of the Model Y. With that capability it can relain 158 miles of charge in just 15 minutes while at a Supercharger. There are 17,000 Superchargers worldwide and six new locations open each week according to the Tesla website.

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Photo courtesy of Hyundai Motor Group

Hyundai Motor Group, the parent company of Hyundai, has announced the formation of a new unit - New Horizons Studio. The new venture is focused on the development of what Hyundai calls Ultimate Mobility Vehicles (UMVs).

New Horizons Studio is part of Hyundai's larger focus on the future of mobility. Unit workers will work to envision vehicles that wander with "unprecedented mobility". These products will focus on target customers that have unconventional travel needs whether it be to access places they have never been or adapt their mobility limitations to their surroundings.

Hyundai 'Elevate' Walking Car Concept

Photo courtesy of Hyundai Motor Group

New Horizons Studio is led by Vice President Dr. John Suh, who has held several leadership roles at Hyundai Motor Group since 2011. He served as founding director of Hyundai Ventures, and then led Hyundai CRADLE (Center for Robotic-Augmented Design in Living Experiences) as its founding director based in Silicon Valley. He brings over 35 years of expertise in the automotive and emerging technology sectors, including roles at Stanford University, Palo Alto Research Center (PARC; formerly, Xerox PARC), and General Motors Company.

"We aim to create the world's first transformer-class vehicle, also known as the Ultimate Mobility Vehicle," said Dr. Suh.

Dr. Ernestine Fu will move to New Horizons Studio as Director of Product Management. She has led research on human operator and autonomous vehicle interactions at Stanford University's Volkswagen Automotive Innovation Lab, as well as scaled emerging technology companies for over nine years as a venture capital partner at Alsop Louie Partners.

The Hyundai Elevate is the first vehicle being developed by the Studio. It debuted at CES 2019 and does not rely solely on wheels to makes it way across urban, suburban, and rural landscapes. The unit sees the Elevate as being able to respond in emergency situations like natural disasters or assist with persons who do not have access to an ADA ramp.

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