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BMW confirms X4 for next year, i3 preorders starting to add up

BMW has confirmed the long-anticipated X4 will bow next year. Norbert Reithofer, chairman of the automaker's board of management, made mention of the upcoming CUV during remarks at the company's annual accounts press conference. Reithofer said that BMW has sold more than 2.7 million X models since it began producing the machines, and that the company plans to expand those offerings with the new X4 next year. He declined to offer up any more details, though from what we've heard so far, the model will be more of a crossover than either the X3 or the X5.
Reithofer also made it clear that BMW is getting serious about electric vehicles, saying the i3 (pictured above, in prototype form) is "definitely coming to market" and that the runabout will be ready by late 2013. BMW reports it has had "Several hundred advance orders" for the EV. As you may recall, the i3 uses a special carbon fiber reinforced plastic passenger cell to save weight and boasts a standard range of 93 miles. You can read the full transcripts from the press conference below for more information.

This is the BMW Z4 GTE that will wear the Roundel in ALMS

The Speedweeks at Daytona International Speedway are a month of racing and reveals, with the season's metal going for the flag at races like the Rolex 24 at Daytona and other cars being introduced to the public. In the latter category is the BMW Z4 GTE (click the image above to enlarge) joining the American Le Mans Series GT class this year with BMW Team RLL (Rahal, Letterman and Lanigan). This machine replaces the M3 GT that completed four years of service and won the class title in 2010 and 2011. Naturally, the team is tempering expectations for the Z4 GTE by repeating the fact that it sees this season as a development year.
BMW Team RLL drivers for its two cars will be Bill Auberlen and series rookie Maxime Martin in the No. 55, aided by Jörg Müller for the endurance races at Sebring and Road Atlanta. The No. 56 car gets Dirk Müller on a full-time basis, Joey Hand when he's not competing in the DTM series, and John Edwards when Hand isn't available. Uwe Alzen will help out with driving duties in the No. 56 at endurance races.
Want to know more? Scroll down below for the complete press release.

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.