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GM, Audi, Jaguar halt Russian sales amidst ruble's collapse

The value of Russia's ruble currency has sunk like a stone tossed in the Volga for much of the year, losing over 40 percent of its worth since June. The change is having bizarre effects on the auto industry there and leaving some automakers scrambling to adjust. According to Bloomberg, Russians are buying up luxury goods including automobiles at the moment to have a physical investment in case the ruble sinks further. However, with the money worth so little, the companies aren't making much from these transactions. Things are so dire that several automakers are temporarily ending deliveries until the situation stabilizes. According to Bloomberg, General Motors stopped sales on December 16 with no set date to start again. Audi did the same thing but with the intention to resume once it has adjusted model pricing. Jaguar Land Rover terminated business until December 19 to see how things changed. Toyota is increasing its pricing, as well, but keeping business open at the same time. Some automakers have subtly been reacting to the slumping Russian auto market all year. The moves have included Volkswagen cutting production by 30,000 units from its factory in Kaluga. Ford also got rid of 950 workers from two plants due to low demand. Some analysts have even speculated that the contracting industry and possibility of lower import duties into the country could cause companies to end their manufacturing in Russia completely.

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 reveals driver lineup and livery for Rolex 24 at Daytona

Audi has announced driver lineups for its customer teams running the R8 LMS GTD in this year's Rolex 24 at Daytona. The Rolex 24 is the first event for the inaugural season of the new United SportsCar Championship series, which merges the old Grand-Am Series with the American Le Mans Series. The new series kicks off January 25.
Flying Lizard Motorsports, which has traditionally been known for repping the Porsche 911, will campaign a pair of R8 coupes, while GMG Racing, Paul Miller Racing and Fall-Line Motorsports will run one car each. A number of drivers on each team are Audi Sport factory drivers, hot shoes like Oliver Jarvis for Fall-Line and Filipe Albuquerque and Dion von Moltke for Flying Lizard, while there are also a few Audi Sport customer drivers.
"We have a fantastic group of racing partners and drivers this season and look forward to defending last year's Daytona win," said president of Audi of America, Scott Keogh. "The successes of the R8 in endurance racing are a testament to the engineering found in every Audi on the road today."