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Audi replaces Mercedes as official vehicle supplier to the IOC

The automotive sponsor of the International Olympic Committee for the past 22 years has been Daimler-Benz. No more, as Audi has just signed a four-year deal to be the official auto supplier to the folks who keep the torch alight and on the move. Audi will supply vehicles for the IOC's headquarters in Lausanne, Switzerland and the organization's international events.
In case you're remembering all the stories about BMW and the London Olympics last summer and wondering where Mercedes-Benz was in all of that, the answer lies in the numerous mouths at the Olympic trough. The IOC is the organization and oversight body of the Olympics - much like the way the FIA oversees world motorsport. BMW, though, sponsored the London Organizing Committee for the Olympic Games, so during the games IOC reps rode in Benzes, LOCOG and its guest dignitaries rode in BMWs.
The Volkswagen Group has other ties with the Olympics as well: The Group will be the official vehicle partner for the winter Olympics in Sochi, Russia in 2014, and Audi currently partners the national Olympic federations of Germany, Finland, Russia and Switzerland. The press release below announcing the partnership has all the official details.

Audi TT Offroad gets the green light

The TT family already has a coupe and convertible, with various engines available in each. But over the past year or so, Audi has been toying with the idea of expanding the range with another bodystyle. And now the latest report from Car confirms that Ingoldtadt has given the production go-ahead to the TT Offroad concept. Unveiled at the Beijing Motor Show last year, the yellow TT Offroad concept envisioned a high-riding five-door crossover form with trademark TT styling cues. It was preceded by the blue three-door Allroad Shooting Brake concept at the Detroit show and followed by the sleek, red five-door TT Sportbrake concept at the Paris salon later the same year, but the impracticality of both those show cars is what we understand prompted Audi to go with the Offroad concept instead. So if it's a crossover, why not badge it with the letter Q, you ask? Because Fiat, that's why. The Italian automaker owns the names Q2 and Q4, which it has used on a variety of models (particularly Alfa Romeos and Maseratis) to connote their traction system. And though the Volkswagen Group has asked nicely, Sergio Marchionne has been as reluctant to give his biggest rivals a leg up as he has been to part with Alfa Romeo, despite their repeated advances. As a result, word has it that the production version of the TT Offroad concept will be sold as the TTQ, which kinda makes us giggle, but it would at least provide a nomenclature bridge between the TT and Q families within Audi's lineup. That is, unless Audi marketing chief Luca de Meo manages to convince his former boss to part with the Q2 and/or Q4 labels. Whatever it's called, the production crossover coupe would share similar dimensions to the Q3 when it arrives in 2017, but would potentially stand even further apart from its more utilitarian counterpart than the BMW X4 does from the X3 on which it is based.

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.