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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.

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.

Hyundai previews new Equus-replacing Genesis G90

Hot on the heels of the announcement of the new Genesis luxury brand, Hyundai is rolling out the first model in its lineup, the G90. Previewed in this image, the sedan will replace the Equus at the top of Hyundai's lineup and launches next month in Korea. It will wear the EQ900 badge in its home market. Penned in the company's new Prestige Design Division, the styling has obvious links to the new Genesis sedan (which will also get an alphanumeric nameplate) and the Vision G Coupe concept (which will likely lead to a production two-door). That means more straight lines than the curvier Equus, along with more upscale details. From the limited angles at which we're viewing it, the design appears to bear some similarities to other luxury automakers like Audi (around the headlights), Mercedes (at the tail), and even Bentley (towards the back of the greenhouse). The G90 will kick off the launch of the new Genesis brand much in the same way that Toyota launched the Lexus brand, Honda begat Acura, and Nissan gave birth to Infiniti. The G90 will be the first of six new Genesis models to launch by 2020. 'New Luxury' Takes Shape - Hyundai Motor Unveils Rendering of New G90 Hyundai Motor has revealed the first rendering of its new range-topping G90 luxury sedan, which is named EQ900 in Korea. The elegantly designed, technology packed G90 hints at the recently-launched Genesis brand's design identity and future direction. Woong-Chul Yang, Head of Hyundai Motor R&D Center and Vice Chairman of Hyundai Motor, said, "Genesis' new large luxury sedan G90 will deliver a concept of 'New Luxury' to our customers. The G90 sits at the pinnacle of the Genesis brand and demonstrates how we apply our human-centered values to give our customer true satisfaction in every aspect of the vehicle ownership experience." As the Genesis brand's flagship model, G90 is a blueprint for change and innovation that will distinguish the Genesis brand. Majoring on 'human-centered' technology combined with engaging driving dynamics, G90 boasts a raft of world-best safety features and technological innovations to set itself apart in the luxury market. G90 also showcases the Genesis brand's hallmark design style 'Athletic Elegance', interpreted by the newly-formed Prestige Design Division to bring graceful and profound elegance to G90's significant proportions.