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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.

GM out, Hyundai in as NFL audibles auto sponsorship

Hyundai has officially replaced General Motors as the primary automotive sponsor of the National Football League, a position the American giant has occupied since 2001. Although the financial details of the deal weren't published, Automotive News reports that GM spent at least $25 million per year as part of its sponsorship deal, although after all was said and done, it worked out to more than $150 million per year. The move is a coup for Hyundai, which now gains the rights to NFL trademarks for use in its advertising. As part of the four-year agreement, the company also has advertising access to big off-season events, like the NFL draft and scouting combine, and will provide support vehicles during events like the Super Bowl. "We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration and tell the Hyundai brand story," Dave Zuchowski, Hyundai Motor America's president and CEO, said in the attached statement. "We can't wait to show the NFL's 188 million fans the great design, advanced technologies, dynamic performance and numerous safety features within the Hyundai lineup." "We are pleased to welcome Hyundai to our family of sponsors," Renie Anderson, the NFL's senior VP of sponsorship, said. "We appreciate Hyundai's enthusiasm as we work together to reach our fans with innovative programs during our season and with our major calendar events throughout the year." Scroll down for the official press release from Hyundai and the NFL, and keep an eye open for the automaker during the NFL Kickoff festivities this September. Related Video: HYUNDAI GOING PRO: ANNOUNCES OFFICIAL NATIONAL FOOTBALL LEAGUE SPONSORSHIP Four-Year Deal Allows Hyundai to Tap into the Passionate Fan Base of the Most Popular Sport in the U.S. FOUNTAIN VALLEY, Calif., and NEW YORK, June 29, 2015 – Hyundai Motor loves sports and has a long history of celebrating fan passion across the globe. In its latest sports marketing venture, Hyundai is now an official automotive sponsor of the National Football League. The NFL has the largest and most avid fan base among U.S. sports, and Hyundai will soon connect this passion with the enthusiasm Hyundai owners have for their vehicles. "We are huge football fans at Hyundai and feel there is no better venue to reach consumers, increase consideration and tell the Hyundai brand story," said Dave Zuchowski, president and CEO, Hyundai Motor America.

2022 New York Auto Show, and Subaru Solterra driven | Autoblog Podcast #725

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. This week was the return of the New York Auto Show, and it was a busy one. Our editors run down some of the reveals, including the updated Kia Telluride and Hyundai Palisade, the long-wheelbase Jeep Wagoneer and Grand Wagoneer L, refreshed Subaru Outback, the gorgeous Genesis X Speedium Coupe concept EV, the 2,200-horsepower Deus Vayanne electric hypercar, a new generation of the Kia Niro family, and the updated Nissan Leaf and Nissan Pathfinder Rock Creek. Then they discuss the news surrounding Elon Musk's offer to purchase Twitter before diving into reviews of the cars we've been driving, including the new Subaru Solterra, Subaru Forester Wilderness and our long-term BMW 330e xDrive and Hyundai Palisade. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #725 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2022 New York International Auto Show 2023 Kia Telluride revealed at NY Auto Show, adds X-Pro trim 2023 Hyundai Palisade revealed with new styling, features, trim level 2023 Jeep Wagoneer, Grand Wagoneer gain L models, Hurricane I6 power 2023 Subaru Outback gets new cladding and lights, more tech Genesis X Speedium Coupe is an electric shooting brake Deus Vayanne EV hypercar reaches for 2,200 horsepower 2023 Kia Niro Hybrid, PHEV and EV debut 2023 Nissan Leaf debuts a mild refresh 2023 Nissan Pathfinder Rock Creek gets a lift and more power Elon Musk offers to buy Twitter for $43 billion Cars we're driving 2023 Subaru Solterra 2022 Subaru Forester Wilderness Long-term 2022 BMW 330e xDrive Long-term 2021 Hyundai Palisade Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: