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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.

Vegas dealer sets world record with 218-Hyundai parade

How many Hyundais would you need to gather in one parade to set a world record? 218, it turns out. That's how many of the Korean automobiles gathered for a recent procession which has now been certified by Guinness as a world record. The event was orchestrated by Henderson Hyundai just outside of Las Vegas, NV, raising $4,000 for the STOP DUI campaign. Though the parade was actually held back in December as part of National Impaired Driving Prevention Month, it was just verified by Guinness now, with each of the 218 motorists to receive a certificate of participation at a celebratory event at the dealership this coming Saturday. The record had been previously set by Lithuanian business consulting firm UAB SDG. Of course that's just the record for Hyundais specifically. Guinness also keeps records of other brands and vehicle types as well. Ram, for example, set the record for the most pickups in a parade this past April at 451, while a procession of 964 Ferraris set another record at Silverstone in 2012. Henderson Hyundai Superstore In Nevada Sets A New Guinness World Record For The Largest Parade Of Hyundai Cars LAS VEGAS, June 22, 2015 /PRNewswire/ -- Henderson Hyundai Superstore, the number one rated Nevada Hyundai dealer three years in a row by DealerRater, announced today that it has been awarded a Guinness World Record for coordinating the largest parade of Hyundai cars ever. In honor of National Impaired Driving Prevention Month last December, Henderson Hyundai Superstore called on local Hyundai owners to participate in its attempt to break the Guinness World Record for the world's largest parade of Hyundai cars and pledged to make a donation for each participating vehicle to STOP DUI, a local organization dedicated to bringing awareness to the consequences of intoxicated driving. With a total of 218 Hyundai cars participating in the parade and a donation of $4,000 to STOP DUI, they officially set the world record previously held by UAB SDG, a business consulting firm based in Kaunas, Lithuania. "Our goal was to give our clients and community members an opportunity to actively participate in bringing awareness to a problem that is devastating families in our area," said Frank Maione, owner of Henderson Hyundai Superstore.

HyFive hydrogen infrastructure gets $51M boost across Europe

"High five!" was one of the catch-phrases of Sacha Baron Cohen's Kazakh comedic alter ego Borat. A real-world HyFive is being announced by a power broker named Boris. And this is serious business. London Mayor Boris Johnson has announced a program called HyFive, which will see automakers and other entities invest 31 million British pounds ($51 million US) in a demonstration project for hydrogen fuel-cell vehicles. By next year, London will have three hydrogen refueling stations, while there will be one each in the Danish cities of Aarhus and Odense and one in Innsbruck, Austria. Leaders of the program are planning for other stations in Sweden, Germany and Italy. The five participating automakers are BMW, Mercedes-Benz parent Daimler, Honda, Hyundai and Toyota, while other companies involved include Copenhagen Hydrogen Network, ITM Power and Linde. Those OEMs will make 110 fuel-cell vehicles available for deployment in Bolzano, Copenhagen, Innsbruck, London, Munich and Stuttgart. The program represents an effort to address the "chicken or egg?" challenge inherent to establishing a hydrogen fuel cell vehicle market. While the powertrain technology provides benefits by combining fossil-fuel-like refueling times with long driving ranges and zero emissions, establishing a refueling network and building fuel-cell vehicles is prohibitively expensive, especially in low volumes. The London mayor is no stranger to green transportation technology. Late last year, Johnson made himself available for a photo opportunity with Ecotive and Frazer-Nash, which had developed a six-passenger extended-range plug-in taxicab. The mayor got a test drive in the cabs this week. You can check out the HyFive press release below. Global leaders sign up to GBP31m plan to demonstrate viability of hydrogen vehicles International project HyFive pioneers hydrogen fuel cell technology A pioneering GBP31 million deal will be struck today (3 April) to make hydrogen vehicles a viable and environmentally friendly choice for motorists across Europe. Leading motor manufacturers, hydrogen fuel suppliers, the Mayor of London's Office and energy consultancies from around the globe are signing up to the HyFive project, the largest of its kind in Europe, at City Hall in London today.