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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.

2016 Technology of the Year Finalist: 2016 BMW 7 Series

BMW remade the legendary 7 Series around technology for 2016. Yes, the sixth generation of BMW's iconic flagship remains a luxury leader, but its sophisticated new features expand the 7's traditional strengths to a new generation that relies on smartphones. The 7 Series' extensive tech is most evident inside, where the driver and passengers have new interactions with the car. A feature called gesture control allows the driver to turn up the volume, accept or decline phone calls, or turn off the home screen using hand movements (see the video below). The sedan also has a digital instrument cluster, LCD touchscreen keyfob, wireless charging feature for phones, and a pinch-to-zoom function that makes iDrive simpler to use. Life is especially good in the backseat, where a seven-inch Touch Command Tablet allows the passenger to control comfort, lighting, and infotainment tasks. There's also WiFi, a gorgeous panoramic Sky Lounge LED roof, and 10-inch screens mounted into the seatbacks. Creature comforts and connectivity aside, BMW literally redid the 7 Series to the core. The new body structure, called Carbon Core, helps the sedan cut weight by up to 190 pounds compared with its predecessor while improving stiffness and rigidity. Meanwhile, the big sedan now offers four-wheel steering, improved aerodynamics, and it will get a plug-in hybrid version next year. It's still a 7 Series, and that means it has all of the luxury can you imagine. The car will massage you, perfume the air, and ionize the cabin. Naturally, it has a potent twin-turbo V8 pushing out 445 horsepower. This is what you've come to expect from BMW. But with the new 7 Series, the venerable automaker moves toward the modern tech-savvy consumer, and that's why Bavaria's most decadent sedan is a finalist for our Technology of the Year award.

Recharge Wrap-up: Renault e.dams wins Formula E Marrakesh ePrix, S. Korean Tesla store opens this month

Renault e.dams has won the 2016 Formula E Marrakesh ePrix. The win at the season's second round gives the team a strong lead with 74 points. ABT Schaeffler Audi Sport and Mahindra Racing are tied in second place with 36 points. Renault e.dams driver Sebastien Buemi took first place in the race, with teammate Nico Prost finishing fourth. "We know we have an efficient car and we had to take advantage of that after we started further back on the grid than we wanted," says Buemi. "I was able to extract everything I needed from the car and it shows the team is working really well, so it's been a very positive start to the season." Read more at Green Car Congress, or from Renault. Navigant Research has ranked the EV charging companies. Of the 12 companies providing public charging networks and services, Navigant has named The New Motion, ChargePoint, and EV-Box as "leaders" in the field based on market share, breadth of products, and market adaptability. Following that group of three are a group of "contenders," including Chargemaster, Fortum, Innology SE, Greenlots, Clever A/S, EVgo, POD Point, and SemaConnect. Trailing those is Car Charging Group in the "challengers" category. Read more at Green Car Congress. BMW has entered the second phase of its ChargeForward program to study advanced EV charging. In partnership with Pacific Gas and Electric Company, BMW is inviting i3 and i8 owners in the San Francisco Bay Area to apply to participate in the second phase of the smart charging project, which aims to test technology that optimizes charging for the benefit of the electric grid. "By managing charging when a BMW i or iPerformance vehicle is plugged in – wherever the vehicle is plugged in – BMW can ensure that vehicles are efficiently charged to meet driver's communicated mobility needs while helping the grid reach greater levels of efficiency and sustainability," says BMW's Manager of Connected eMobility, Cliff Fietzek. Read more from BMW. Tesla will open its first Korean retail location this month. On November 29, Tesla plans to open a store in Starfield Hanam, South Korea's largest mall, in Gyeonggi Province. Tesla has also finished ground construction of a Supercharger station in the mall's parking area. Tesla is working to open another store in Seoul's Gangnam District, as well as charging stations around the country. Read more from The Country Caller.