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Hyundai launches crate engine program with 2.0L four and 3.8L V6

With all the commotion about the aftermarket going on at the SEMA Show in Las Vegas, Hyundai's timing for this announcement is just perfect - the South Korean brand will launch its first crate engine program.
Starting with the 2.0-liter, turbocharged four-cylinder and the 3.8-liter V6 from the Genesis Coupe, the program should push Hyundai even further in to the performance realm. Two versions of the 2.0-liter will be available at first - a $4,500 version, that's ready for its owner to bolt on a turbo of their choosing, or a $6,000 version, which includes the turbo and all its plumbing. Hyundai claims the cheaper version was designed with the aftermarket specifically in mind, as it allows tuners to easily fit larger turbos while spending less coin for parts that will just be tossed. The 3.8-liter V6 will cost $9,000.
"As more Genesis Coupes have entered the pre-owned enthusiast market since its 2009 launch, we've witnessed strong interest in leveraging the low cost potential of this rear-drive platform and its powertrains for the tuner market and motorsports. Now, with our new crate engine program, Hyundai is making it more affordable for these same enthusiasts to modify their Genesis Coupe, or perhaps inject some high-value horsepower into other platforms," said Hyundai's North American president and CEO, John Krafcik.

Facelifted Hyundai Veloster to get new 7-speed DCT, Flex Steer

No matter how you look at it, the Hyundai Veloster is an odd duck. With the vehicle's weird door configuration and styling that kind of looks like a modernized Honda CRX, the model is certainly unlike anything else on the road today. Since spotting one testing earlier this year (pictured above), we know that a refreshed version is on the way eventually, but that car keeps a lot of its secrets hidden under camouflage. New rumors from The Korean Car Blog suggest that the Veloster might receive a few mechanical changes to go along with the updated skin.
Among the biggest rumored tweaks is that the turbocharged model is receiving a seven-speed, dual-clutch gearbox as a replacement for its current, conventional six-speed auto. Another potential change for the naturally aspirated version is Hyundai's Flex Steer system that offers selectable weighting for the electric power steering.
Styling obviously isn't being left alone for the update. The mule testing earlier this year appears to show a new grille and altered bumpers underneath its concealment. The latest rumors suggest that's exactly the case with the possibility of a front end closer in design to the current Genesis, along with HID headlights and a modified hood design to remove the faux heat extractors.

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.