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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.

Apple's digital car keys may work with Hyundai and Genesis models this summer

Apple's digital car key feature might soon be useful for unlocking more than a handful of BMW models. In his latest newsletter, Bloomberg's Mark Gurman claimed Hyundai and its upscale Genesis badge will support Apple CarKey "by the summer." It's not certain which models would provide the option, but it's notable that some trim levels of the Ioniq 5 and other Hyundai cars include NFC for a (currently proprietary) digital key. While remote lock controls have been available through smartphones for a while, CarKey (and its Android equivalent) treats the phone more like a physical key. You just have to bring your phone or Apple Watch to the door handle to unlock it, and you can even place your phone in a given area to start the car. People with ultra-wideband iPhones (such as the iPhone 11 and newer) can even leave their phone in their pocket when opening and starting the vehicle. If the leak is accurate, Apple's move could significantly expand the audience for digital car keys — you wouldn't need to shop from one high-end marque to even consider it. A deal would also suggest the tussle over a possible EV collaboration wasn't enough to deter Apple and Hyundai from exploring a CarKey team-up. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Genesis Hyundai Technology Smartphone Apple

Hyundai spotted testing Prius rival

That Hyundai is gearing up to go after the Toyota Prius with a dedicated hybrid of its own is no great secret. We've seen prototypes for it testing twice before. But this is our best look at the Korean challenger yet, wearing its own bodywork and in the light of day. Spied undergoing testing in Germany, this prototype dubbed AE HEV (likely for Advanced Experimental or Alternative Energy Hybrid Electric Vehicle) is still heavily camouflaged to keep it away from prying eyes (like ours). But there are still some details we can discern from underneath the cloth cladding. For starters, you can see the horizontal slates on the front grille, blue accents on the headlights, maybe even a strip of LED daytime running lights. There looks to be a spoiler at the back similar to that on the European hatchback version of the Honda Civic. Of course it's another Honda whose form this prototype seems to be emulating, and that's the Insight. It'll be interesting to see if Hyundai can succeed where the Insight failed, and take the fight to the Prius. Expect to see it emerge sometime in the second half of next year.