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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.

Bisimoto Hyundai Genesis Coupe is a 1,000-horsepower tuner dream

The big guns are starting to roll out at the 2013 SEMA Show in Las Vegas. This is the Bisimoto Hyundai Genesis Coupe, the promised 1,000-horsepower monster that was first shown at the end of September. We ventured across the SEMA floor to get an up-close look at this hugely powerful two-door.
The list of aftermarket parts fitted to this Genesis Coupe is extensive, ranging from that huge intercooler up front to a pair of Bisimoto/Turbonetics turbochargers to an AEM engine management system, all of which allow the 3.8-liter V6 to produce upwards of 1,000 hp. A full roll cage and Buddy Club seats and harnesses are fitted to the cabin, while a coil-over suspension blesses this Genny with some extra agility. We don't know what size Toyo R888 R-Compound tires those are, but as they're fitted to 20x11-inch wheels in back and 20x9.5-inch wheels in front, we're betting they're huge. We've got a full list of aftermarket goodies in the press release below.
We also have a full gallery of live images of the Bisimoto Genesis on the SEMA Show floor up top, so be sure to hop in and take a look at just what kind of potential can be found in this two-door Korean sports coupe.

2013 Hyundai Veloster Turbo: February 2013

I just couldn't bring myself to lead this post with the image you see on the right. The winter months have not been kind to our matte gray 2013 Hyundai Veloster Turbo, and since you can't just run the thing through your local car wash, our oddly shaped little hatchback has spent more days dirty than clean. It breaks my fleet manager heart to see one of our test cars covered in schmutz so frequently, but let's be honest - the last thing anyone wants to do when it's 12 degrees Fahrenheit outside is play with a hose and spend a good amount of time hand-washing a car.
Moral of the story: If you live in a cold-weather state where you expect to get regular doses of the white stuff, matte paint probably isn't for you. Not to worry, though, as the Veloster Turbo is offered in plenty of pretty, car wash-friendly colors.
We'll have a lot more to talk about regarding the Veloster's cleanability in forthcoming updates, and we're even planning a trip to the Dr. Beasley's office - the company that created the special matte paint detailing kit for the Hyundai - to have their experts show us how it's done. For now, let's spend some time talking about what we've learned about the turbocharged hatch during its honeymoon phase here in the Autoblog Garage.