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These cars are headed to the Great Crusher In The Sky
Fri, 24 Aug 2012It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.
2015 Hyundai Sonata already recalled for bad wiring harnesses
Mon, 14 Jul 2014It's barely arrived in dealerships, and already, Hyundai is recalling its 2015 Sonata. A total of 2,138 vehicles are facing issues with a wiring harness that could limit the amount of power steering help and in some cases, making it difficult to shift out of Park. Most of the cars are not yet in customer hands.
This is a followup action to a very quiet stop-sale that was issued to dealers in early June, which originally included a recall of 1,790 vehicles across the continental US and 58 vehicles in Puerto Rico. That figure eventually grew to a total of 2,080 vehicles in the US and 58 in the Caribbean territory.
Only the 2.4-liter, naturally aspirated model is affected, and of the 2,100-plus sedans, only 12 of them are in the hands of customers, according Hyundai spokesman Jim Trainor. Each customer has been notified and asked to report in for free repairs. As of this writing, there are no reports of injuries or crashes due to the issue.
Goes Both Ways: Free-trade pact sees South Korean brands losing share at home
Sat, 29 Dec 2012France 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.