2011 Hyundai Sonata Gls on 2040-cars

Auto blog

U.S., South Korea strike a new trade deal

WASHINGTON — The United States and South Korea have reached agreement on a new trade pact, the White House said on Tuesday. "We have come to an agreement in principle, and we expect to roll out specific details on that very soon," White House spokeswoman Sarah Sanders told a briefing. Her comments were the Trump administration's first confirmation that the two sides had reached an agreement in trade talks covering revisions to the U.S. South Korean Trade Agreement (KORUS) and a South Korean exemption from new U.S. metals tariffs. Seoul on Monday announced a deal to limit exports to the U.S. of South Korean steel, while extending high U.S. tariffs on any possible South Korean pickup trucks and increasing U.S. automakers' access to the Korean market. But details of the agreement have not yet been released by the U.S. Trade Representative's office, which led the negotiations for the United States after President Donald Trump last year called the 6-year-old bilateral pact a "horrible deal" that had doubled the U.S. trade deficit with South Korea since 2012. The deal is expected to permanently exempt South Korea from Trump's tariffs of 25 percent on steel and 10 percent on aluminum, but South Korea will have to reduce its steel exports to the United States by 30 percent from its average over the past three years to about 2.68 million tons. South Korea was the third largest steel exporter to the United States last year after Canada and Brazil. The agreement also was expected to double South Korea's import quota for cars meeting U.S. safety standards — not necessarily Korean standards — to 50,000 per manufacturer per year from 25,000 previously. The big challenge now would be getting unimpressed Korean consumers to buy them. The 25 percent U.S. tariff for pickup trucks, which was due to begin a phase-out starting in 2019, would be extended for another 20 years, according to South Korean officials. This would virtually ensure that any pickup truck contemplated by Korean automakers Hyundai or Kia for the U.S. market would be built in the United States.Reporting by Ayesha Rascoe and David LawderRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Reuters Government/Legal Hyundai Kia

Krafcik says US Gov. shutdown is slowing Oct. auto sales

The government shutdown is eroding consumer confidence in the auto market, says John Krafcik, CEO of Hyundai's US sales unit, and could lower October sales by as much as 10 percent, Automotive News reports. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," Krafcik says, adding that industry sales could be off by five to 10 percent in October compared to September.
The fourth quarter, which started October 1, usually consists of increased auto sales as dealerships clear their lots to make room for the next year's models. Leading up to the fourth quarter this year, the auto industry was doing well in the fragile, recovering US economy, although September deliveries decreased by 4.2 percent, due in part to this year's Labor Day sales being recorded for August.
To help its customers, Hyundai announced it is deferring new-car loan and lease payments for furloughed federal workers until they're called back to work and also offering them a three-month payment deferral if they buy a new Hyundai in October. "We have already had requests from over a thousand people to have their payments deferred," Krafcik says.

Motorcyclist gives rude driver a taste of instant justice

A British motorcyclist proved that no good deed goes unpunished recently when he tried to return a motorist's wallet and got nothing but abuse for his trouble. According to the Daily Mail, a motorcyclist somewhere in England spotted a driver in a silver Hyundai pull out of a gas station with a wallet and cellphone on the roof. As the driver pulled off, the wallet slid off the roof and landed in the street, where the motorcyclist retrieved it. With wallet in hand, the motorcyclist set off in pursuit of the Hyundai driver, but when he approached the car the driver didn't seem too happy to see him. As the rider approached, the Hyundai driver tried to escape him, then spat a string of profanity at the rider as he pulled up to the car's window. The motorcyclist then flung the driver's wallet at him through the car's open window, whereupon the driver quickly changed his tune. "Thank you so much, bro!" the driver is heard saying in the video. The motorcyclist decided that he'd had enough abuse and wasn't buying the Hyundai driver's improved attitude, so he decided to extract a little revenge. He grabbed the driver's phone off the Hyundai's roof. He held it up to the driver of the car and then casually tossed it on the ground. Then the motorcyclist rode away, presumably believing he'd taught the rude driver a valuable lesson. Related Video: News Source: The Daily Mail Auto News Weird Car News Hyundai Motorcycle road rage good samaritan motorcyclist