2010 Hyundai Genesis Coupe 2.0t R-spec Coupe 2-door 2.0l on 2040-cars

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2014 Hyundai Elantra

The reality of growing up and living in Detroit is an interesting one. You're essentially born with minute traces of gasoline in your veins and everyone you know is associated with the auto industry in some way. That's not an exaggeration. They might be the child of a line worker at the local auto plant, or they may hold down a job at a restaurant frequented by employees at a big supplier, but no matter what, everyone is part of the auto-industry ecosystem.
Because of this, the stories you may have heard about Detroiters and their distaste for foreign cars is, frustratingly, true. Simply put, Toyota and Honda are blatantly disliked by most, while BMW and Mercedes-Benz are merely tolerated. For a car reviewer who prides himself on making egalitarian recommendations, it's a frustrating environment to live in, particularly when friends and family ask that inevitable question - which is followed by an equally inevitable qualifier - "What should my next car be?" and "One more thing - it can't be foreign." It's this attitude that's perhaps the reason no one I know even considered buying a Hyundai Elantra.
Despite the fact that the compact sedan is built in Montgomery, AL and that Hyundai maintains a shiny, new, sprawling tech facility less than 45 minutes outside of downtown Detroit, the Elantra's status as a "foreign" car immediately precludes it from most Motown buyers' shopping lists. This is to their detriment, as I discovered during a week of testing the refreshed-for-2014 Hyundai Elantra.

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.

Hyundai Motor plans 17 EVs, $16B investment by 2030

SEOUL — South Korea's Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. It also said it plans to introduce 17 EVs in that timeframe, six from Genesis and 11 from the Hyundai brand. Hyundai announced that three of those EVs would be sedans, along with six SUVs, a light commercial vehicle and one new type of model. It will begin sales of the Ioniq 6 later this year, followed by the Ioniq 7 in 2024. Hyundai Motor, which together with affiliate Kia Corp is among the world's top 10 biggest automakers by sales, targets to achieve a 7% market share in the global EV market by 2030, with an annual sales target of 1.87 million vehicles, the automaker said during a virtual investor day. The Seoul-based automaker said it aimed to achieve an operating profit margin of 10% or higher in EV business by 2030. "Hyundai is successfully accelerating its transition to electrification and becoming a global leader in EVs despite a challenging business environment caused by the global chip shortage and ongoing pandemic," Hyundai Motor Chief Executive Officer Jaehoon Chang said. Analysts, however said Hyundai's $16 billion investment in EV business would not be considered an "aggressive" approach compared to its rivals, adding, the investment is easily dwarfed by bigger rivals including Toyota Motor Corp, which plans to invest 8 trillion yen ($69.43 billion) for electrification by 2030. "Hyundai is allocating about 20% of its 95.5 trillion won investment to EV related businesses, which includes building new plants, EV charging stations and strategic alliances with battery manufacturers and the investment amount for EV does not seem too surprising or aggressive," said Eugene Investment & Securities analyst Lee Jae-il. Chang said Hyundai was considering building new dedicated EV production plants without proving details of new factories, including locations and timeline. Analysts said Hyundai would be eying on building dedicated EV factories in the United States, as it considers that as its key EV market. Shares in Hyundai Motor closed down 2.6%, compared to the benchmark KOSPI's 0.2% gain. ($1 = 1,205.2600 won) ($1 = 115.2300 yen) (Reporting by Heekyong Yang and Joyce Lee; Editing by Clarence Fernandez and Rashmi Aich) Related video: This content is hosted by a third party.