2012 Hyundai Tucson Limited/ Navigation/ Leather/ Heated Seats/ Low Miles! on 2040-cars

Auto blog

Hyundai i20 WRC gets shakedown in Finland

It's always a good day when we get to post a video about rally racing. It's even better when that video is of a new WRC competitor undergoing testing. This spy video shows Hyundai's i20 WRC, a car that debuted nearly one year ago at the 2012 Paris Motor Show. It's set to usher in Hyundai's return to top-flight motorsports, and will do battle with the cars from Citroen, Ford and Volkswagen that are currently contesting the 2013 season.
This video, which shows the i20 testing on the notoriously tough Finnish rally stages, gives the impression that progress on the new WRC contender is going well. It certainly looks fast, and as with the vast majority of rally cars, it sounds absolutely wonderful (listen to some of those gun-shot-like backfires). Take a look below for the whole, glorious three minutes and 20 seconds of unadulterated rally noise, flying dirt and jumping.

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 deferring car payments for furloughed federal workers

Since the US government shut down early this morning, more than 800,000 federal employees could be furloughed without pay until a deal is reached to start the government back up. To help affected employees cope with the temporary layoffs, Hyundai is expanding its Assurance program to defer all of their auto loan or lease payments until they're called back to work.
"We recognize the impact on family budgets that the furlough will drive," says John Krafcik, president and CEO of Hyundai Motor America. The automaker also says it will allow furloughed employees to buy new cars during October with help from a 90-day payment deferral.
We're sure Hyundai's act of goodwill relieves some of the stress that furloughed Hyundai owners and their families are experiencing. Check out the press release below.