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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.

She's just a girl... who's an E28 fanatic

Ashley Rodriguez has a thing for the BMW E28. The amateur train photographer has owned over 15 of the cars in her brief lifetime, and says she's attracted to the old 5 Series because of how rare they are. All told, she's owned every variation of the E28 with the exception of the 2.4td, and the crew from Petrolicious recently stopped by to train their lenses on her most recent acquisition: a lovely M535i. The site's latest video, Rare Things, takes a closer look at just what draws Rodriguez to the E28 and how her passion for the cars has evolved over the years.
As usual, Petrolicious serves up plenty of gorgeous footage of the vintage German sedan, and anyone who's ever harbored an obsession over any one particular model can certainly hear a few chords ring true in Rodriguez's words. Check out the clip below to see what we mean.

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.