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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.

BMW recalls i8 for stability control problem

The Basics: BMW will recall 16 examples of the 2015 i8 with production dates between May 29, 2015, and June 5, 2015. The Problem: Improperly drilled holes in the dynamic stability control hydraulic unit could restrict the movement of one or more of the part's pistons. This problem could impact the DSC's control over the vehicle's braking. Injuries/Deaths: None reported. The Fix: BMW dealers will check the DSC hydraulic unit and will replace the part if necessary. If You Own One: BMW expects the recall to start February 10. More Information: BMW previously recalled 223 examples of the 2014 i8 for a possible fuel leak. Related Video: RECALL Subject : Impaired Dynamic Stability Control (DSC) Functions Report Receipt Date: DEC 28, 2015 NHTSA Campaign Number: 15V882000 Component(s): ELECTRONIC STABILITY CONTROL Potential Number of Units Affected: 16 All Products Associated with this Recall Vehicle Make Model Model Year(s) BMW I8 2015 Details Manufacturer: BMW of North America, LLC SUMMARY: BMW of North America, LLC (BMW) is recalling certain model year 2015 i8 vehicles manufactured May 29, 2015, to June 5, 2015. Improperly drilled holes within the Dynamic Stability Control (DSC) hydraulic unit may restrict one or more pistons impairing the DSC functions, including braking. CONSEQUENCE: Impaired DSC functionality may negatively impact vehicle handling and braking and increase the risk of a crash. REMEDY: BMW will notify owners, and dealers will inspect the DSC hydraulic unit, and replace if necessary, free of charge. The recall is expected to begin February 10, 2016. Owners may contact BMW customer service at 1-800-525-7417. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.