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Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Hyundai deferring car payments for furloughed federal workers

Since the US government shut down early this morning, more than 800,000 federal employees could be furloughed without pay until a deal is reached to start the government back up. To help affected employees cope with the temporary layoffs, Hyundai is expanding its Assurance program to defer all of their auto loan or lease payments until they're called back to work.
"We recognize the impact on family budgets that the furlough will drive," says John Krafcik, president and CEO of Hyundai Motor America. The automaker also says it will allow furloughed employees to buy new cars during October with help from a 90-day payment deferral.
We're sure Hyundai's act of goodwill relieves some of the stress that furloughed Hyundai owners and their families are experiencing. Check out the press release below.

Bisimoto Hyundai Genesis Coupe is a 1,000-horsepower tuner dream

The big guns are starting to roll out at the 2013 SEMA Show in Las Vegas. This is the Bisimoto Hyundai Genesis Coupe, the promised 1,000-horsepower monster that was first shown at the end of September. We ventured across the SEMA floor to get an up-close look at this hugely powerful two-door.
The list of aftermarket parts fitted to this Genesis Coupe is extensive, ranging from that huge intercooler up front to a pair of Bisimoto/Turbonetics turbochargers to an AEM engine management system, all of which allow the 3.8-liter V6 to produce upwards of 1,000 hp. A full roll cage and Buddy Club seats and harnesses are fitted to the cabin, while a coil-over suspension blesses this Genny with some extra agility. We don't know what size Toyo R888 R-Compound tires those are, but as they're fitted to 20x11-inch wheels in back and 20x9.5-inch wheels in front, we're betting they're huge. We've got a full list of aftermarket goodies in the press release below.
We also have a full gallery of live images of the Bisimoto Genesis on the SEMA Show floor up top, so be sure to hop in and take a look at just what kind of potential can be found in this two-door Korean sports coupe.