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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.

Experience the 2016 Quail Motorsports Gathering in glorious technicolor beauty

If you want to properly experience all of the best that Monterey Car Week has to offer, you're going to want to head to the Quail Lodge and Golf Club on the Friday before The Pebble Beach Concours d'Elegance. Showcasing everything from classic roadsters to modern hypercars and everything in between, The Quail has something to offer pretty much everyone. But The Quail is an extremely exclusive event, and it's not always easy to get tickets. Our high-res gallery of 54 images may be the next best thing. This year, the BMWs of all vintages were front and center in celebration of the German brand's 100-year anniversary. But that's not all. You'll see an impressive collection of Lamborghini Miura coupes in our gallery, all brought to The Quail to celebrate that car's 50th anniversary. Pre-war race cars, post-war sportscars, motorcycles old and new... there was a lot to take in at The Quail in 2016. We did our best to capture the event in images, and we hope you enjoy scrolling through. Related Video: Featured Gallery 2016 Quail Motorsports Gathering View 54 Photos Image Credit: Copyright 2016 Drew Phillips / Autoblog Design/Style Motorsports Misc. Auto Shows BMW Lamborghini Automotive History Convertible Coupe Wagon Concept Cars Luxury Racing Vehicles Special and Limited Editions Performance Supercars Classics Sedan Pebble Beach

Which car companies are creating new jobs in America?

Since January, automakers have announced investments totaling $9.5 billion in U.S. plants, creating or retaining more than 12,000 jobs. Some of those companies have yet to announce just how many jobs will be created given their investments, with the location of many of those jobs still to be determined. Specifically, the 4,000-job Toyota-Mazda joint venture plant still hasn't announced its location, with numerous states jockeying for it. Hyundai has plans to invest $1 billion but has not announced a jobs number yet. And likewise Ford is investing $1.2 billion in Michigan without specifying a number of jobs. Volvo this week announced plans to add a second line to its factory under construction in South Carolina, spending another $500 million and adding 2,500 jobs to the 2,000 it was already trying to fill. Then Thursday, Daimler announced a $1 billion expansion to its facility in Tuscaloosa, Ala., to produce EV batteries and electric SUVs, a move that will add 600 jobs to its hiring this year. Above, we've created a handy pie chart showing you which companies have announced new jobs and how many there will be. Reporting by Paul Lienert in Detroit News Source: Reuters Plants/Manufacturing BMW Chrysler Ford GM Honda Hyundai Mazda Mercedes-Benz Toyota Volvo jobs