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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.

Defying Trump, major automakers finalize California emissions deal

WASHINGTON — The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration's push for weaker curbs on tailpipe pollution. The agreements with carmakers Ford Motor Co, Volkswagen AG, Honda Motor Co and BMW AG were first announced in July 2019 as voluntary measures prompting anger from U.S. President Donald Trump. A month later, the Justice Department opened an antitrust probe into the agreements. The government ended the investigation without action. The Trump administration in March finalized a rollback of U.S. vehicle emissions standards to require 1.5% annual increases in efficiency through 2026. That is far weaker than the 5% annual increases in the discarded rules adopted under President Barack Obama. The 50-page California agreements, which extend through 2026, are less onerous than the standards finalized by the Obama administration but tougher than the Trump administration standards. The automakers have also agreed to electric vehicle commitments. Volvo Cars, owned by China's Geely Holdings, said in March it planned to join the automakers agreeing to the California requirements. It has also finalized its agreement. The settlement agreements say California and automakers agreed to resolve "potential legal disputes concerning the authority of CARB" and other states that have adopted California's standards. In May, a group of 23 U.S. states led by California and some major cities, challenged the Trump vehicle emissions rule. Other major automakers like General Motors Co, Fiat Chrysler Automobiles NV and Toyota Motor Corp did not join the California agreement. Those companies also sided with the Trump administration in a separate lawsuit over whether the federal government can strip California of the right to set zero emission vehicle requirements. Ford said the "final agreement will reduce emissions in our vehicles at a more stringent rate, support and incentivize the production of electrified products, and create regulatory certainty." BMW said "by setting these long-term, predictable, and achievable standards, we have the regulatory certainty that is necessary for long-term planning that will not only reduce greenhouse gas emissions but ultimately benefit consumers as well." 

BMW celebrates with M4 DTM Champion Edition

Go back just a few seasons, and Germany's DTM touring car series was a straight-up competition between Audi and Mercedes-Benz. But BMW rejoined the race in 2012, winning both the drivers' and constructors' titles on its first year back and celebrating with a special matte-black M3 DTM Champion Edition. Last season, it won the constructors' championship but not the drivers', and this year it did the opposite. In short, it's been an impressive comeback for the Bavarian automaker, and to celebrate this year's accomplishments, it's followed up with the new M4 DTM Champion Edition for Europe you see here.
Based on the new M4 coupe - which forms the basis for BMW's DTM challenger as well as its pace car - the Champion Edition is distinguished by its special livery: The orange grille frame, the matte black hood and trunk with multicolored stripes, the black stripes along its shoulder and rocker panel, and the blacked-out 19-inch wheels all to pay homage to champion Marco Wittmann's racecar, as does special lettering on the rear windows.
Other enhancements include black front splitter and skirts, carbon front flaps and mirror caps, rear spoiler and carbon diffuser, while autographed sill plates and carbon interior trim with the car's serial number adorn the cabin. Only 23 examples will be offered, symbolic of the number adorning the winning tin-top racer and the flank of this special edition as well.