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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.

Chrysler and Hyundai join Pepsi and Coke as top Super Bowl spenders [w/ video]

Super Bowl XLVIII is barely a week away, and some of the early ads are already leaking out. It's timely then that The Street has released rankings of the top five Super Bowl advertisers since 2009, showing Chrysler and Hyundai/Kia taking two of the spots with $131.7 million in cumulative spending.
Since 2010, the cost to air a 30-second Super Bowl ad has risen from $3 million in 2009 to about $4 million in 2014, and about a fifth of advertisers opt for a one-minute ad, which doubles costs. Last year, the ads brought in $292 million, and they have brought in roughly $2 billion since 2010.
Chrysler has spent $64.3 million since 2009 to make it the fourth highest spending company in the last five years. In that time, the company has rebranded itself as it emerged from bankruptcy with the Imported from Detroit ad campaign that premiered in 2011 and last year's God Made a Farmer Ram Trucks ad. Its 2012 Halftime in America sparked national debate about whether it was also a reference to the upcoming presidential election.

Kia teases handsome 2021 Sorento interior with design sketches

True, we've seen the fourth-gen, 2021 Kia Sorento uncovered on a commercial shoot, answering the biggest question we had about one of Kia's bestsellers. On top of that, an Instagram post revealed a couple of low-res interior shots. Kia's carried on with the tease campaign, serving up interior sketches that tell us more about the cabin than the photos. As with with exterior, the revamped passenger space leaves benign curves of the third-gen Sorento behind. Strong horizontal layering is broken up by vertically oriented vents. A 12.3-inch digital cluster lives behind the steering wheel, the screen blending almost seamlessly into a 10.25-inch infotainment display. Another screen for climate control sits dead center on the console, with a few buttons and toggles to improve ease-of-use. A large knurled knob stands atop the center tunnel, it being the rotary shifter that supplants the current gear lever. Behind that, another knurled dial could control the choice of driving modes. That smaller unit is accompanied by a number of buttons for features like auto stop/start, a parking sensor, and the electronic parking brake. The stitched leather upper on the instrument panel should be joined by upgraded fabrics, materials, and finishes throughout. There's also talk of a hidden rear wiper, but we need to wait for the reveal to understand what that's about. The Korean Car Blog happened upon an Excel spreadsheet with engines listed for the crossover internally codenamed MQ4. Globally, the coming Sorento's full complement of powertrain options will cover possibly four four-cylinder gasoline engines, Kia's new R diesels, an eight-speed automatic transmission, a six-speed auto, and — if we can believe our eyes — a four-speed manual. TKCB says the gas engines for the U.S. market should include a 2.5-liter naturally-aspirated four-cylinder, a 2.0-liter turbocharged four, and a 2.5-liter turbo four. Since we know the new Sorento will come in a hybrid flavor, expect the 1.6-liter turbo four this way as well. That seems like a lot of choice, though, what with the current Sorento offering only a 2.4-liter four-cylinder and a 3.3-liter V6. And on the spreadsheet, the eight-speed dual-clutch is only paired with the diesel engine; the gassers get the six-speed auto or the manual. The 2021 Sorento debuts in a little more than two weeks at the Geneva Motor Show on March 3. American audiences could greet it as soon as the New York Auto Show in April.