005380.KS - Hyundai Motor Company

KSE - KSE Delayed Price. Currency in KRW
130,500.00
+3,500.00 (+2.76%)
At close: 3:30PM KST
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Previous Close127,000.00
Open130,000.00
Bid130,000.00 x 0
Ask130,500.00 x 0
Day's Range128,000.00 - 131,500.00
52 Week Range110,000.00 - 143,500.00
Volume1,429,494
Avg. Volume896,398
Market Cap31.354T
Beta (5Y Monthly)0.37
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateApr 22, 2020 - Apr 27, 2020
Forward Dividend & Yield4,000.00 (3.07%)
Ex-Dividend DateDec 27, 2019
1y Target Est138,692.00
  • Benzinga

    Elliott Management Disposes Entire Stake In Hyundai Motor

    Elliott Management Corporation sold all its shares in Hyundai Motor Group (OTC: HYMTF) companies last year, following its failed attempts to boost dividends and gain board seats at the South Korean family-run conglomerate. The U.S. hedge fund’s name was not found in any of Hyundai Motor companies’ shareholder lists released at the end of 2019, Reuters reported, citing the Korea Economic Daily. At the time, Elliott and other shareholders opposed Hyundai’s proposal, saying that the family-run conglomerate’s ownership restructuring plan could favor its family members rather than minority shareholders.

  • Moody's

    Hyundai Glovis Co., Ltd. -- Moody's announces completion of a periodic review of ratings of Hyundai Glovis Co., Ltd.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Hyundai Glovis Co., Ltd. Hong Kong, January 23, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Hyundai Glovis Co., Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Samsung May See Passive Funds Cut Exposure Sooner Than Expected
    Bloomberg

    Samsung May See Passive Funds Cut Exposure Sooner Than Expected

    (Bloomberg) -- A cap on Samsung Electronics Co.’s weight in a Korean equity index could kick in earlier than planned, triggering fears that billions of dollars will exit the stock.Instead of the bi-annual adjustment, the Korea Exchange is considering putting a 30% limit on Samsung’s weighting on the Kospi 200 Index earlier due to the stock’s recent rally, said Ahn Kil-Hyun, the manager of the team that oversees the index. Given the gauge’s popularity among passive funds, research provider Smartkarma’s Douglas Kim expects between $1.2 billion and $1.5 billion in net selling of Samsung shares as a result. The bourse adopted the 30% cap in June 2019 to prevent a potential plunge in the entire market due to a single stock, rebalancing every June and December. Smartkarma says there’s an 80%-90% chance the rule will kick in for Samsung in March or April.“It is true that the Kospi 200 Index is being distorted because of Samsung,” Ahn said. “We just want to minimize shocks to the market.”Ahn added that details have yet to be confirmed, including the frequency of rebalancing. The Kospi 200 index is a market-cap weighted gauge provided by the Korea Exchange. About $30 billion passive funds track the index, according to Gilbert Choi, analyst at NH Investment & Securities. After soaring 44% in 2019 and 9.5% so far this year, Samsung currently accounts for 33.1% in Kospi 200 Index, up from about 28% in September.A Samsung Electronics spokesman declined to comment on the exchange’s discussions.The potential forced selling in Samsung shares shows decisions by index providers have grown increasingly important for stock markets in recent years, thanks to the rising popularity of passive investment strategies.Samsung’s outsized influence on the Korean gauge compares with just a 4.8% weighting of the U.S.’s largest company, Apple Inc., on the S&P 500 Index.“I’m not sure if such a cap can prevent a distortion in the stock market, as the cap itself could be a factor for distortion,” said Hyun Choi, head of equities at Barings Korea. “It may result in investors increasing exposure to other large caps in their portfolio, which can lead to price distortion.”SK Hynix Inc., a peer of Samsung and the second-biggest member on Kospi 200, has a 6.4% weight on the measure, followed by Naver Corp.’s 2.65% and Hyundai Motor Co.’s 2.09%.Other global indices including DAX and Euro Stoxx 50 have market-cap restrictions for a single stock, with both having a limit of 10% for any one stock and they are adjusted on a quarterly basis, according to a note from Smartkarma.(Updates Samsung’s latest weighting, share movement in 5th paragraph)\--With assistance from Abhishek Vishnoi, Hitomi Kimura and Sohee Kim.To contact the reporter on this story: Heejin Kim in Seoul at hkim579@bloomberg.netTo contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Naoto HosodaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Activist hedge fund Elliott sells stakes in Hyundai Motor companies: paper
    Reuters

    Activist hedge fund Elliott sells stakes in Hyundai Motor companies: paper

    Elliott Management sold all its shares in Hyundai Motor Group companies last year after it was thwarted in its campaign for huge special dividends and board seats, South Korean media reported. Hyundai Motor also declined to comment. Elliott held more than $1 billion worth of shares in Hyundai Motor , Kia Motors and Hyundai Mobis , an Elliott unit said in April 2018.

  • Powered by SUVs, Hyundai turns in best quarter since early 2017
    Reuters

    Powered by SUVs, Hyundai turns in best quarter since early 2017

    Hyundai Motor Co turned in its best quarterly operating profit in over two years and said it was on track for higher profit margins in 2020, powered by more sales of sport-utility vehicles (SUVs) such as the Palisade and Kona. The better-than-expected operating earnings, which fuelled a rise in shares, indicates measures by Hyundai Motor Group heir-apparent Euisun Chung to revamp the image of the automaker known for its sedan-heavy lineup were beginning to pay off. Hyundai said it would meet its target for a 5% operating profit margin this year, versus 3.5% in 2019, by selling even more SUVs and launching fully redesigned versions of some of its best-selling models, the Elantra sedan and the Tucson SUV.

  • Financial Times

    Hyundai Motor: ignition key

    After a recent flying taxi announcement, it is nice to see Hyundai Motor revisiting terra firma. Stagnant global auto markets and poor sales in China meant most analysts had expected bad news in Wednesday’s report. Hyundai’s almost annual strikes were on pause last year, meaning more days of production.

  • Moody's

    Hyundai Steel Company -- Moody's announces completion of a periodic review of ratings of Hyundai Steel Company

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Hyundai Steel Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Hyundai, Kia invest $110 million in UK electric van startup Arrival Ltd
    Reuters

    Hyundai, Kia invest $110 million in UK electric van startup Arrival Ltd

    Hyundai Motor Co and sister firm Kia Motors Corp are making the investment of 100 million euros ($110 million) in Arrival Ltd. Founded in 2015 and based in London, Arrival has developed a boxy, futuristic-looking shuttle bus aimed at the commercial delivery market. In a statement, Arrival said it will work with Hyundai and Kia to develop a variety of electric vehicles, initially for the commercial market.

  • Toyota Makes a New $394 Million Bet on Flying Taxis
    Bloomberg

    Toyota Makes a New $394 Million Bet on Flying Taxis

    (Bloomberg) -- Toyota Motor Corp. is making a $394 million investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets.Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, SPARX Group and its own investment arm, Toyota AI Ventures. The deal, for now, makes the Santa Cruz, California-based Joby the best-funded “eVTOL” (electric vertical take-off and landing) startup in a booming category that must overcome significant regulatory hurdles and concerns about passenger safety and noise, bringing the total money it has raised to $720 million.“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said Toyota President and Chief Executive Officer Akio Toyoda. “As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life.”Over the past year, the 82-year Japanese automaker has deepened its interests in futuristic transportation technologies. Last year it backed Recogni Inc., a Silicon Valley maker of autonomous vehicle systems, and May Mobility, an Ann Arbor, Michigan-based operator of self-driving shuttle buses. At CES earlier this month, Toyota announced its intention to build a 175-acre community, or  “Woven City”, at the base of Mount Fuji to serve as a showcase for self-driving cars and other innovations in transportation.Joby is an emerging player in a field of air-taxi companies that includes Airbus SE; South Korean automaker Hyundai, which recently announced plans to design and produce an air taxi with Uber Technologies Inc.; and Kitty Hawk, the brainchild of Alphabet co-founder Larry Page, which is developing an air taxi in conjunction with Boeing Co. Volocopter, a startup in Germany, is backed by Zhejiang Geely Holding Group Co., the biggest investor in Mercedes-Benz maker Daimler AG and owner of Swedish manufacturer Volvo and British automaker Lotus.In addition to announcing the funding, Joby released an image of its prototype aircraft. The vehicle, which looks like an oversized toy drone, sports six electric propellers and is capable of flying 150 miles on a single charge, at speeds of up to 200 miles per hour, the company said. It’s designed to carry four passengers and a pilot, an approach that differs from that of rivals such as Kitty Hawk, whose two-seat “Cora” vehicle is intended to fly autonomously, without an onboard pilot.Joby says it will manufacture prototypes at a facility in Marina, California, near Monterey, but plans to tap Toyota’s famous manufacturing prowess to build “highly reliable complex hardware at increased scale,” said Paul Sciarra, Joby’s executive chairman and a co-founder of Pinterest.In December, Joby and Uber announced a separate partnership to jointly introduce Joby air taxis in at least two cities, with customers booking and paying for flights via the Uber app.The most pressing challenge for Joby, which now has around 400 employees, is obtaining certification from the Federal Aviation Authority and other regulatory agencies around the world. Joby says this is a three- to five-year process that it formally began in 2018.Over the past few years, both the FAA and the European Union Aviation Safety Agency (EASA) have moved to support commercial development of air taxis and released special guidelines to regulate small aircraft, with rules that differ from those governing conventional helicopters and fixed-wing airplanes. Much work remains, said Robin Lineberger, head of the Aerospace & Defense practice at Deloitte, including creating a system to manage municipal airspace in both normal and poor weather conditions and building physical infrastructure such as mini-airports that can support frequent takeoffs, landings and aircraft recharging.“The 2023 to 2025 time frame is fairly straightforward” for small demonstrations, Lineberger said. But he looks to 2035 “as a practical date for having a ubiquitous operational fleet in the thousands—not the hundreds—with a well-established framework for regulatory approval.”Sciarra and Joeben Bevirt, Joby’s founder and CEO, say they’ve spent significant time with Toyoda in Toyota City, Japan, as well as with other Toyota executives at Joby’s headquarters on a windy, 500-acre ranch in the hills north of Santa Cruz. They would not say whether they offered them a ride on the prototype aircraft, but Bevirt said: “They’re a loyal and tenacious company and this has been a dream of the Toyoda family for a very long time.”To contact the author of this story: Brad Stone in San Francisco at bstone12@bloomberg.netTo contact the editor responsible for this story: Dimitra Kessenides at dkessenides1@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Hyundai unveils first Genesis SUV in renewed overseas premium push
    Reuters

    Hyundai unveils first Genesis SUV in renewed overseas premium push

    South Korea's Hyundai Motor Co unveiled the first sport-utility vehicle (SUV) under its Genesis brand on Wednesday, a move analysts said was crucial for the premium marque's expansion in overseas markets. The brand, spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung aimed at revamping the image of the value-for-money automaker. The automaker plans to launch the GV80 SUV in North America in the first quarter of 2020.

  • What ‘Parasite’ Misses About Inequality in South Korea
    Bloomberg

    What ‘Parasite’ Misses About Inequality in South Korea

    (Bloomberg Opinion) -- To judge by “Parasite” — Bong Joon-ho’s Golden Globe-winning portrait of three Seoul families thrown into queasy proximity by the country’s wealth divide — South Korea is an Asian version of Brazil or South Africa.The poor in Bong’s black comedy are unable to escape the bottom of the heap — living in overcrowded basement apartments, or even (in a horrifying twist) further below ground. The wealthy enjoy a life of careless riches and open skies on Seoul’s hilly outskirts, cosseted by armies of staff whom they hold in thinly veiled contempt.It’s a compelling vision and a neat fit with the Korean Wave that’s taken the country’s culture and industry global in recent decades. A fiercely unequal society feels like the natural home of oligarchic chaebol conglomerates like Samsung Group and Hyundai Group, as well as the sexy rich boys (also nicknamed chaebol) who feature so heavily in Korean television dramas. Korean pop music’s global breakthrough track was a satire of Seoul’s fancy Gangnam neighborhood. Its hugely popular idol groups often resemble a remorseless production line for underpaid, disposable celebrities. So much for the stereotype — but in truth, South Korea has done better than most other societies on earth in avoiding the inequality that so often plagues fast-growing economies. If there are losers from its economic model, they are more likely the young and old — and women, who suffer from the rich world’s worst gender inequality, than the middle-aged characters who dominate the ensemble cast of “Parasite.”Take the Gini coefficient, the most commonly used index of inequality. On that measure, South Korea is east Asia’s most egalitarian society after tiny, poor Timor-Leste, according to the World Bank’s figures. Only a handful of countries in western Europe come in with better scores, and the likes of France, the U.K. and Canada are all less equal.(1)Other measures paint a similar picture. Take the 1% who inhabit tony neighborhoods like Seoul’s Pyeongchang-dong, the apparent model for the suburb where the Park family live in “Parasite.” In the U.S., the 1% account for about one-fifth of all income, rising to 28% in Brazil. South Korea, at 12.2%, is closer to western European levels.The picture is even more striking if you widen the focus to the top and bottom fifths of the income distribution to get a broader picture of rich and poor, a measure that’s widely followed in South Korea itself. In South Africa, the top 20% earn more than 28 times as much as the bottom 20%, and even in the U.S. the wealthiest quintile earn 9.4 times more than the poorest. South Korea’s ratio of 5.3 is more egalitarian than Japan, the U.K., Australia and Italy, and roughly in line with France and Germany.Why, then, are South Koreans so worried about inequality? “Parasite” isn’t alone in its concern about the issue. Three-quarters of adults younger than 35 and two-thirds of those between 35 and 60 want to leave the country and similar shares of the population regard South Korea as “hell,” according to a survey last month. (Bong, whose films often take place in surreal dystopias, might find future inspiration in that finding.)President Moon Jae-in came to office in 2017 promising to close the country’s wealth gap by raising the minimum wage and retirement payments and reining in property prices — an agenda that’s not been without problems, as Sam Kim of Bloomberg News has written.One issue is that we measure our satisfaction not by where we are, but by where we’ve come from and where we’re going. South Korea went from poverty to affluence in the space of a generation, but growth increasingly appears to be grinding to a halt. That’s leaving many people terrified about what’s coming next — especially as the world’s lowest fertility rate drives a declining crop of workers to support a rising population of retirees, as my colleague Daniel Moss has noted.In contrast to decent inequality metrics for the population as a whole, the old in particular have lost out. Just 13% of Korea’s working-age population are living in poverty, but the figure rises to 44% for those aged 66 or over, far higher than any other OECD country. The young, meanwhile, have largely given up hope of ever affording their own home. Buying property in Seoul takes about 13.4 years’ worth of income, compared with 5.7 times in New York and 4.8 times in even Tokyo. As a share of GDP, household debt is now higher than in the U.K., U.S., or Japan. No wonder one of the most wretched characters in “Parasite” is on the run from loan sharks.South Korea isn’t without economic problems — but it’s the inequality suffered by young and old, and by women, that’s most at risk of holding the country back. The luckiest generation are those who were born in the 1960s and early 1970s when the war and desperation of the 1950s was already past; joined the job market in the 1980s, when the economy was growing at double-digit rates; and bought houses dirt-cheap in the wake of the 1998 Asian financial crisis before subsequent generations were priced out.The heads of all three families in “Parasite” are of that generation, as is Bong himself. If things look bad for them, they’re a whole lot worse for their parents and children.(1) Separate calculations by the Organization for Economic Cooperation and Development rank South Korea lower, but still relatively high by comparison to other newly affluent countries.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Uber partners with Hyundai on electric air taxi
    Reuters

    Uber partners with Hyundai on electric air taxi

    U.S. ride-hailing company Uber Technologies Inc and South Korean automaker Hyundai Motor <005380.KS> have teamed up to develop electric air taxis, joining the global race to make small self-flying cars to ease urban congestion. Global players like Germany's Daimler , China's Geely Automobile <0175.HK> and Japan's Toyota <7203.T> have all unveiled investments in startups that aim to deploy electric flying cars capable of vertical takeoff and landing. Uber and Hyundai, for instance, gave widely different timelines for commercialization, underlining these challenges.

  • Hyundai is Uber's newest partner for building flying taxis
    TechCrunch

    Hyundai is Uber's newest partner for building flying taxis

    A little less than three years after it first announced its vision for adding flying taxi service to its portfolio of offerings, Uber has landed its first auto manufacturing partner on the skyway to making its Air Taxis real. The company announced at the Consumer Electronics Show that it would be working with Hyundai Motor Company as the first major auto manufacturer to join Uber's Elevate program. As part of the partnership, Hyundai said it will produce and deploy the air vehicles with Uber providing the logistics services including airspace support, connections to ground transportation and customer interfaces through its aerial ride sharing network.

  • Hyundai to build air taxis for Uber's future aerial ride share network
    TechCrunch

    Hyundai to build air taxis for Uber's future aerial ride share network

    Hyundai Motor is partnering with Uber to develop and potentially mass produce air taxis for a future aerial ride share network. The partnership is the latest addition to Uber Elevate's growing network that includes Aurora Flight Sciences, which is now a subsidiary of Boeing, Bell, Embraer, Joby Aviation, Pipistrel Aircraft, Karem Aircraft and Jaunt Air Mobility.

  • Uber and Hyundai Unveil Flying Car Model for Future Air Taxi Service
    Bloomberg

    Uber and Hyundai Unveil Flying Car Model for Future Air Taxi Service

    (Bloomberg) -- Uber Technologies Inc. is working on a flying car with Hyundai Motor Co., the first automaker to buy into Uber’s dream for a network of air taxis dotting the skies of major cities.The two companies outlined their partnership Monday at the CES technology conference and plan to show off a full-scale model of the vehicle this week on the trade show floor in Las Vegas. Hyundai’s aerial taxi would be able to take off and land vertically, accommodate four passengers and cruise at up to 200 miles per hour. It would be fully electric with a range of 60 miles.The concept is similar to those designed by Boeing Co. and a handful of other companies in collaboration with Uber Elevate, the ride-hailing company’s aerial division. In addition to sci-fi ventures, the group also oversees Uber helicopter rides, which are available in New York City. Uber has said it will conduct the first public demonstration of a flying car this year and allow customers to book aerial rides by 2023.In more terrestrial pursuits, Uber said earlier Monday that it’ll start selling bus tickets through its app in Las Vegas, making it the second city to sign up for a public transit program the company introduced last year. Customers in the city will see public transit as one of the options in the Uber app, alongside car rides. They can then plan their route and purchase tickets for the same price they would pay using traditional methods. Riders will be able to use the tickets when their phone is offline. Uber expects to introduce the feature to additional cities around the world in the coming months.Selling bus tickets is the latest deviation from Uber’s core ride-hailing business, part of a larger strategy to encourage customers to open the app more frequently. The company sees increased usage as a way to drive people to other services, including delivery of meals or groceries, rentals of electric bicycles or scooters and someday, flying car rides.The company’s transit partnership with Las Vegas is nearly identical to an arrangement it made last year with Denver, the first place where Uber offered public transit ticketing. While there are just two cities that support ticket sales through the app, Uber and its main U.S. competitor, Lyft Inc., both display public transit routes for many more places.David Reich, Uber’s head of transit, acknowledged that the feature may deal a blow to Uber’s main business among cost-conscious customers. He said the trade-off is worth it if people learn to use Uber more regularly and trust it to offer comprehensive transportation information. “Sometimes they’ll take something other than Uber, and that’s OK,” Reich said.Las Vegas will get a new transit option as soon as this year, courtesy of Elon Musk. A startup founded by the billionaire, called Boring Co., broke ground last year on a tunnel beneath the Las Vegas Convention Center, where CES is held. Musk plans to pack riders into vehicles designed by Tesla Inc. zooming through the narrow tunnel. Reich said Uber is open to conversations with Musk but that there’s currently no plan in place to sell tickets for Boring Co.’s Loop transit system.For the flying car project, Uber is working with NASA and a half-dozen manufacturers, including Textron Inc.’s Bell and Joby Aviation. The arrangement with Hyundai stands out because the automotive giant could produce air vehicles at “rates unseen” in the aerospace industry, said Eric Allison, the head of Uber Elevate. High volume would, in theory, decrease the price per trip and make an air taxi network financially viable, he said.Uber said it’ll provide partners with airspace support services, connections to ground transportation and a large base of customers. The companies will collaborate on finding places for the vehicles to take off and land, with Uber likely leveraging existing relationships with real estate companies including Hillwood Properties and Signature Flight Support.While Uber has held talks with the Federal Aviation Administration, the effort is likely to face heavy scrutiny from the regulator over logistics for takeoff and landing, noise and safety concerns. Hyundai said its vehicle will require a human pilot initially and eventually operate autonomously. Neither Hyundai nor Uber provided a timeline for dispensing with human pilots.The move represents a pop of innovation for Hyundai, which, like other car manufacturers, has been hit by changing consumer habits that favor access over ownership and a preference for vehicles not powered by gasoline. For Uber, the arrangement expedites ongoing efforts to evolve from a ride-hailing company to a de facto global transportation and logistics provider. It may also offer a welcome distraction from Uber’s stock price, which has slipped about 30% since its disappointing initial public offering last year.(Updates with flying car news starting in the first paragraph.)To contact the author of this story: Lizette Chapman in San Francisco at lchapman19@bloomberg.netTo contact the editor responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Tech’s Flagship CES Show Counts on Meat, Cars to Draw Crowds
    Bloomberg

    Tech’s Flagship CES Show Counts on Meat, Cars to Draw Crowds

    (Bloomberg) -- Every year during the second week of January nearly 200,000 people gather in Las Vegas for the tech industry’s most-maligned, yet well-attended event: the consumer electronics show.The conference, officially known as CES, takes over the city, occupying numerous hotels and airplane hanger-sized halls of the Las Vegas Convention Center. Swarms of mostly male attendees, big plastic badges swinging from their necks, wander among the exhibition booths of some 4,500 companies showcasing everything from toilets that can talk to “flying cars” that can’t actually fly yet.For years though, the biggest companies in tech have held back, opting for a more muted presence at CES and announcing their newest products in separate events. Apple Inc., whose slick product “keynotes” have since been copied by almost every other hardware company, started the trend years ago. Now it’s fashionable for tech journalists to brag about avoiding CES altogether. Without big announcements, and amid a broader backlash against the tech giants, some wonder why the event still exists.And yet, people go in droves. Executives from the big names can meet suppliers and negotiate partnerships. For individual attendees, it’s also valuable for keeping up with the ever-changing landscape of bigger screens, longer battery life and internet-connected everything.Even if Apple or Amazon.com Inc. aren’t dropping new world-changing devices, it still matters to a manufacturer from Shenzhen, China, or a Best Buy Co. merchandising manager what the latest trends in consumer tech are, regardless of how incremental they might seem. Technology has infiltrated people’s lives and gadgets from small drones to mobile phones are now accessible to millions of people around the world, not just the rich, early-adopters of 20 years ago.And CES continues to show off the proliferation of devices for every conceivable purpose, sold at every single price point, meaning a legion of product reviewers, who can easily reach huge audiences through YouTube, are needed to help consumers sift through their options. For them, CES is D-Day, the week where they work 20-hour days shooting dozens of videos to roll out during the year.CES has also branched into industries that wouldn’t have been considered “tech” a few years ago. Walking through the exhibition halls, one could be forgiven for mistaking it for a car show. As the auto industry leans in to self-driving technology, voice-connected software and electric cars, companies like Mercedes-Benz AG and Honda Motor Co. have come to CES in force with the hopes of getting some high-tech press. This year, Hyundai Motor Co. claims to have a flying car (or rather small helicopter) it wants to show off. CES’s colonization of the auto world was partly why the Detroit Auto Show -- that industry’s flagship event -- moved to June from January.Other firms trying to re-brand themselves as tech companies are pouring in too. Delta Air Lines Inc. says it will be the first airline with a major announcement at the show as it plans to “showcase the future of travel.”CES has also become one of the top events for the advertising world, much of which now revolves around interpreting moves made by Alphabet Inc.’s Google and Facebook Inc. Executives from the holding companies of the big advertising agencies camp out in the upscale Aria hotel and rarely venture further afield for fear of the infamous hour-long taxi lines. It’s almost as if they’re holding a totally separate conference.The latest trend to hit CES stretches the definition of tech beyond recognition. Last year, Impossible Foods Inc.’s unveiling of the meatless “Impossible Burger 2.0” was the show’s fan favorite, winning awards from numerous tech blogs. Now that rival Beyond Meat Inc. has seen its stock shoot up 200% after a wildly popular initial public offering, Impossible Foods looks to be planning something major this year too.“We’ve got big news coming your way,” the food company said on its Instagram last week. “We’re back.”To contact the reporter on this story: Gerrit De Vynck in New York at gdevynck@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Hyundai, Kia sales drop to 7-year low on China weakness, forecast better 2020
    Reuters

    Hyundai, Kia sales drop to 7-year low on China weakness, forecast better 2020

    South Korea's Hyundai Motor and affiliate Kia Motors turned in their lowest sales in seven years in 2019 as business in China slumped, missing their target for a fifth straight time, but forecast better numbers for 2020. Weak 2019 sales underline the challenges Hyundai Motor Group has been facing, including a string of annual profit declines at Hyundai and higher costs to develop future technologies even as the global auto market stagnates. "The market environment is very uncertain and internal and external challenges will intensify," Group heir apparent Euisun Chung said on Thursday.

  • Hyundai, Kia sales drop to seven-year low on China weakness, forecast better 2020
    Reuters

    Hyundai, Kia sales drop to seven-year low on China weakness, forecast better 2020

    South Korea's Hyundai Motor and affiliate Kia Motors turned in their lowest sales in seven years in 2019 as business in China slumped, missing their target for a fifth straight time, but forecast better numbers for 2020. Weak 2019 sales underline the challenges Hyundai Motor Group has been facing, including a string of annual profit declines at Hyundai and higher costs to develop future technologies even as the global auto market stagnates. "The market environment is very uncertain and internal and external challenges will intensify," Group heir apparent Euisun Chung said on Thursday.