4dr Sdn V6 3 New 3.8l Nav Cd Technology Package 03 Signature Package 02 Grey on 2040-cars

Auto blog

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.

Hyundai NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.

2019 Hyundai Santa Fe gets $550 price bump, more tech

Hyundai's all-new 2019 Santa Fe will start at $25,500 and include more safety and other technology when it goes on sale later this year. Hyundai also confirms that the three-row version of the crossover will be renamed the Santa Fe XL for 2019, while it's developing an as-yet unnamed three-row, eight-passenger SUV, filling a hole in the Korean automaker's lineup. The Santa Fe's new starting price is $550 higher than the 2018 Santa Fe Sport, which is going away as a separate nameplate. (To keep the moves straight: The former Santa Fe Sport becomes just plain Santa Fe. The former Santa Fe becomes Santa Fe XL.) The 2019 Santa Fe's price doesn't include the $980 destination fee, which nudges the starting price up to $26,480 for the front-wheel-drive SE model. It's offered in seven trim models, topping out at the all-wheel-drive Ultimate 2.0T, which starts at $39,780. The 2019 Santa Fe borrows some of the Hyundai SmartSense safety technology from the Santa Fe Sport, including forward-collision avoidance, lane-keeping assistance and blind-spot collision assist. Other standard technology includes idle stop-start and Android Auto and Apple CarPlay compatibility. Hyundai has also updated the looks on its fourth-generation crossover, with more chiseled hard lines in the body, a rising beltline, improved visibility and a reorganized interior with more storage space. Powering the ute is the base-level 2.4-liter inline-four engine, which makes 185 horsepower and 178 pound-feet of torque, or a 2.0-liter turbocharged four-cylinder putting out 235 hp and 260 lb-ft. An eight-speed automatic transmission routes power to the front or all four wheels. Fuel economy ratings top out at 22 miles per gallon in the city, 29 on the highway and 25 combined for the 2.4-liter engine in front-wheel drive, a slight improvement over its predecessor.