I just had the same symptoms, it was the camshaft sensor. You test it easily and see it fail when hot. This video may help others with the same issue:
https://youtu.be/yiZWVxzGjdk
P0340 Hyundai - Camshaft Position Sensor 'A' Circuit Malfunction Bank 1 Or Single Sensor
Possible causes
- Faulty Camshaft Position Sensor
- Camshaft Position Sensor harness is open or shorted
- Camshaft Position Sensor circuit poor electrical connection
- Faulty starter motor
- Starting system circuit
- Dead (Weak) battery
Read more: http://engine-codes.com/p0340_hyundai.html#ixzz338zFujgZ
SOURCE: 2003 Hyundai Sonata with 4
P0301 - Cylinder 1 Misfire Detected.
Possible Causes:
- Improper spark plug at cylinder #1
- Insufficient compression at cylinder #1
- Incorrect fuel pressure
- The injector circuit is open or shorted at cylinder #1
- Fuel injector #1 may be faulty
- Intake air leak at cylinder
Possible Solutions:
- Perform Injector Service
- Replaced Spark Plug #1
- Replaced Injector #1
- Replaced Ignition Coil #1
Being you have a heavy gas smell I would look into the injectors. If injector #1 is over producing it can cause a misfire. Test your compression and fuel pressure.
SOURCE: CAM SENSOR CODE P0340 SETTING
Hasw the magnet fallen off of the cam sproket ? If so, replace the entire set.
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