2013 Hyundai Veloster 3dr Cpe Man W/black Int on 2040-cars

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Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.

All the Hyundai Santa Cruz needs now is the green light

Ever since Hyundai took the wraps off the Santa Cruz concept nearly a year ago, we've been closely watching to see if the Korean automaker would put it into production. The signs have been looking good, but this could be our clearest indication yet. According to the company's North American product planning chief, the road ahead is clear for the compact pickup. "We're very anxious to do something with the idea," Mike O'Brien told AutoGuide. "The engineering feasibility work has been done," and 18 months of preparation have already gone into laying out the business case. Now all it needs is the green light from the head office. Hyundai unveiled the Santa Cruz concept – codenamed HCD-15 – at the 2015 Detroit Auto Show. The design calls for a compact pickup crossover, similar in concept to the Honda Ridgeline, but smaller. It would be targeted towards young customers interested in outdoor activities who don't want to track the elements inside their vehicle along with their mountain bikes, kayaks, surfboards, and snowboards. If approved, the Santa Cruz would likely share its underpinnings with the Tucson crossover. Hyundai sells a good 50,000 Tucsons each year in the US, and the Santa Cruz is estimated to match (if not exceed) that number, helping Hyundai double its sales based on the same platform. The Santa Cruz is also tipped to be Hyundai's first diesel model in America. "The diesel is the most promising because of the fuel economy it delivers," said O'Brien. "It best matches in our research of what these customers are looking for... Outstanding fuel economy, good torque and good driveability."

Hyundai bringing Elantra GT, special edition Veloster to Chicago

Hyundai will be bringing two new products to next week's Chicago Auto Show, a company source confirmed to Autoblog. The first is a freshened version of the Elantra GT – pictured above as a 2014 model – and the other is a special edition of the Veloster hatchback. Our source was mum about specific details, but said that the Elantra GT refresh was simply that – nothing crazy or all-new. In other words, we expect some lightly touched-up styling, and perhaps some improvements to the interior refinement, infotainment and technology, and maybe powertrain. As we reported earlier, the two-door Coupe is no longer part of the Elantra lineup, so these changes might be a way for Hyundai to further differentiate the GT from the sedan. As for that Veloster, it won't be anything revolutionary, either. Hyundai has historically used the Chicago show to debut special editions of the Veloster – take a look at last year's Re:Flex, for example – and we expect the same this time around. Perhaps a new matte paint finish? That's been a popular choice for Veloster Turbo buyers, after all. Whatever may be in store, we'll have the full scoop next week during the Chicago festivities. Stay tuned. Related Video: Featured Gallery 2014 Hyundai Elantra GT View 21 Photos Chicago Auto Show Hyundai Hatchback Economy Cars hyundai elantra gt