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Genesis cars win accolades, offer value — so why are sales so bad?

My high-school buddy Brent Cormier was so smitten with the Genesis G80 when he saw it at an event I hosted at SXSW in 2016 he bought a used 2013 Hyundai Genesis a short time later and fell in love with the car. "It surpasses my every expectation," said Cormier, a self-described "renaissance man" who owns and runs a real estate agency with his wife Laura, is a food service executive chef and part owner of Austin-based Thin the Herd Guitars. "I was locked into Mercedes and Audi for 10 years," he added. "And felt trapped in an endless pit of maintenance costs." After owning the Genesis over the past two years — including using it as an Uber and Lyft driver to earn extra cash — Cormier learned what some frugal luxury sedan buyers and a handful of car reviewers have discovered: Genesis offers great bang for the buck compared to other premium brands and can compete with the best in terms of performance, features and comfort. Hyundai's luxury brand also earned a prominent third-party endorsement last week when for the first time Genesis topped J.D. Power's 2018 APEAL study, surpassing German luxury-performance icon Porsche. The APEAL study (which stands for Automotive Performance, Execution and Layout) "measures owners' emotional attachment and level of excitement across 77 attributes," ranging from performance to comfort, and asks nearly 68,000 owners of new 2018 models to score vehicles on a 1,000-point scale. In its second year ranked as a stand-alone brand, Genesis earned an APEAL score that bumped it up 15 points to 884 and helped push it past Porsche — and past BMW, Lincoln, Mercedes-Benz, Audi, Volvo, Cadillac, Land Rover and Lexus, in order of ranking. Last month, Genesis also topped J.D. Power's Initial Quality Survey (IQS) for the first time this year. And both its models were awarded Top Safety Pick Plus ratings by the Insurance Institute for Highway Safety, among 11 Plus ratings in all for Korean vehicles. Despite high J.D. Power rankings and great reviews, Genesis U.S. sales were off 50 percent for the first six months of 2018 compared to 2017, and in June Genesis sold only 796 vehicles — the first time U.S. numbers dropped below 1,000 in a month. Part of Genesis's APEAL and IQS success can be attributed to its small product lineup: just two models, the G80 and G90 sedans, with a third, the 2019 G70, launching later this year. And while those numbers may help in J.D.

Ferrari, BMW lend expertise to Olympic bobsled, skeleton, luge

LONDON — There are plenty of reasons why the sport of bobsleigh is sometimes referred to as Formula One on ice, but few as obvious as Italy's World Cup sleds. Resplendent in Ferrari red, and with a set of team sponsor Pirelli's P-Zero tyres painted on the sides, they are even liveried to look like racing cars. Ferrari, Formula One's most glamorous and successful team, have worked with the Italian federation, whose sleds run without sponsor branding at the Olympics, since 2010 and in the run-up to next month's Pyeongchang Winter Games. Former rival BMW, title sponsor of the World Cup, has long partnered the U.S. bobsleigh team, while McLaren teamed up with Britain's bob and skeleton athletes for the 2014 Sochi Games in Russia. "There's always the link between the Formula One companies, or any motor company, and skeleton and bobsleigh," says Rachel Blackburn, the engineer who has been involved in Britain's skeleton program since 2006 and who used to work for McLaren. "There's the Ferrari sleds and the BMW sleds ... when we were at McLaren it kind of made a good story," she told Reuters by telephone from her home in Dubai. That somewhat manufactured rivalry has died down in the years since Sochi, with McLaren no longer involved and Ferrari's presence low key. But the worlds of grand prix motor racing and sliding sports still have plenty in common. Bobsled, luge and skeleton are among the fastest of Olympic sports, with bobsleds reaching speeds over 90 mph. Drivers are subjected to gut-wrenching G-forces, and crashes can be fatal. And then there is the ongoing debate about cost controls, the direction of future rules, preserving a level playing field and obsessive secrecy — all endlessly recurring themes in Formula One. 80 mph on a tea tray Blackburn said skeleton, where riders hit 80 mph on what has glibly been compared to an oversized tea-tray, sits somewhere between Americas Cup yachts and Formula One cars in terms of speed and aerodynamics. "Applied engineering is far more interesting than the pure stuff, so when its applied to something that's fun and exciting it does make it a lot easier to solve problems," she said. "There is the Americas Cup, sailing, Formula One and the high speed ice sports as well. It's the same concept.

BMW, Ferrari, VW cars use tungsten mined by terrorists

Bloomberg Markets is reporting that BMW, Volkswagen and Ferrari have been using tungsten ore sourced from Columbia's FARC rebel terrorists. The extensive story focuses on Columbia's illegal mining trade and calls into question the provenance of the rare ore that is used not only in crankshaft parts production, but is also found in the world's computing and telecommunications industry for use in screens.
The ore is mined by the FARC (Fuerzas Armadas Revolucionarias de Colombia, or Revolutionary Armed Forces of Colombia - People's Army), and exported to Pennsylvania, where it is refined. The refined ore is then sent over to Austria, where a company called Plansee turns it into a finished product. Now, it's important to note that we aren't talking about the world's supply of tungsten here. In 2012, Plansee's American refinery purchased 93.2 metric tons of tungsten, valued at $1.8 million. That's peanuts, with the entire Colombian tungsten mining industry producing just one percent of the world's supplies.
That doesn't make indirectly supporting FARC any more acceptable, though. BMW, VW and Ferrari are all committed to not accepting mineral supplies from the Democratic Republic of Congo, which is also in the grips of a guerrilla insurrection funded, in part, by illegal mining. The same commitment would figure to extend to Colombian mining, but as BMW points out, it's difficult for a multi-national manufacturer to know where every item in its supply chain comes from. A company spokesperson says as much, telling Bloomberg, "These few grams out of the billions of tons of raw materials passing through the BMW supply chain are of no practical relevance."