2.7t Awd Bi Turbo Wagon Rare Green Over Green Leather on 2040-cars

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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.

Audi starts production of new TT in Hungary

Audi sure made waves when it rolled out the original TT in the late 1990s, putting fashion forward with a stylish coupe that neatly summed up the design direction the company was headed in. But that was a decade and a half ago, and the TT has moved on considerably since then.
The German automaker has since revealed its third-generation TT, replacing the original twice over with ever-more performance-focused but no less stylish successors along the way. But it wasn't until last week that the first new MkIII TT rolled off the assembly line.
That took place, of course, in Gyor at Audi Hungaria Motor Kft. It's the same assembly plant that handles the company's A3 sedan and cabrio, with the facility also handling final assembly of the TT ever since the factory opened in 1997 and the model began rolling off the line in '98. Last November, the plant in Hungary built its 500,000th TT, and now officials are ushering in the era of the new model.

24 Hours of Le Mans an on-and-off love affair

There was little usual about this year's 24 Hours of Le Mans - intermittent rain in the weeks before the race meant cars didn't get on track as much as they wanted, and intermittent rain during the race meant cars went off track a lot more than they wanted. The race started with a wet track, and one of the records broken because of the random downpours was the number of times the safety car led the field - 11 times this year - although the record of two hours and 53 minutes of lapping behind the safety car, set in 2011, was not eclipsed.
None of that served to dampen the action. With little more than an hour left in the race there were cars still only a few seconds apart fighting for position, leads still changing because of pit stops and everyone drafting anyone they could.
Things didn't go the usual way up front, either - well, not exactly...