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Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.

Nine-time Le Mans winner Tom Kristensen to retire

Le Mans icon Tom Kristensen is retiring. The Danish driver, who was an integral part of Audi's absolute dominance at the 24 Hours of Le Mans, captured a record-breaking nine wins at the legendary endurance race, along with six overall victories at the 12 Hours of Sebring in a career that spanned 26 years.
"Over the past couple of months, my thoughts of retiring have been stronger, and therefore, it feels right to inform you today that I am retiring from motor racing," Kristensen told Autosport. "I still feel I am in peak physical form and possess the necessary mental toughness both in and outside of the car: it has been important for me to stop while I am still strong and able to deliver top performances at Audi."
While the World Endurance Championship's season-ending race at Interlagos on November 30 will be Kristensen's last as a driver, it won't be the end of his long-running association with Audi. According to Autosport, TK will take on a new role as an ambassador for the German marque and will work with team's drivers in an unspecified role.

Audi planning S3 Plus with 375 hp?

There's a war being waged in Europe for the highest output from the smallest displacement. Alfa Romeo has managed to squeeze 240 horsepower and 260 pound-feet of torque out of a 1.7-liter turbo four for the 4C. Mercedes-Benz has coaxed 355 hp and 332 lb-ft out of a 2.0-liter turbo four to drive the new A45 AMG, CLA45 AMG and GLA45 AMG. But not to be outdone, the Volkswagen Group is said to be working on one of its own that will put both to shame.
The engine is reportedly being based on VW's existing 2.0-liter turbo four, only enhanced to produce a massive 375 hp and 369 lb-ft of torque. The key to getting there was poaching Friedrich Eichler, the engineer who designed AMG's aforementioned high-output engine, and mandating him to do still better.
That's all well and fine - and perfectly impressive - but just what does VW plan on doing with the new engine? A whole lot, according to reports. It's expected to power the new Scirocco and a new Golf R Evo expected to debut at the Beijing Motor Show in April, and you can bet it'll be slotted into another few applications as well. But the first vehicle expected to get it will be the Audi S3 Plus.