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Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.

Kia Seltos crossover: Aimed at millennials, named from mythology

In news that touches on proper placement of carts and horses, Kia announced that its new global compact crossover will be called the Seltos. This should surprise no one, since we posted a batch of "spy" shots last week of a naked Seltos that was decorated with Seltos badges and placards. What might surprise is the inspiration for the name: Greek mythology. Kia says we have the legend of "'Celtos,' the son of Hercules" to thank for the moniker. In case you ever need to take a test on this, you should know that Heracles was the Greek god. Hercules was the later Roman version, and the Romans focused more on Hercules' early, dismal relationships. Herc, as the story goes, got tricked by a princess named Celtine during a stint herding cattle, when he stopped by her father's place. The episode resulted in a boy named Celtus (or Celtos), one of his multitudinous brood, and that boy became the mythological father of the Celts. The Seltos crossover has a job almost as challenging as fathering a nation, that of being a lure to millennials the world over. Kia's tried to give the little people hauler a head start on the job by changing the first letter of Celtos' name to "S," said to imply speed and sportiness. Conveniently, that also fits into the carmaker's crossover and minivan naming scheme that already includes Soul, Sportage, Sorento and Sedona. Without details on available engines, we can't tell how much speed or sportiness there will be, but the design looks sophisticated enough. Designers have managed to put plenty of muscle and flourish into a small space without making a mess. With the exterior matching the sketches faithfully, we expect the same handsome results inside, led by the 10.25-inch infotainment touchscreen. Kia says it will reveal the Seltos later this month. Sales will begin in South Korea in the latter half of the year, with other markets to follow.

Kia design boss hints at an electric version of the Stinger

We return to the much-scrutinized Kia Stinger, the critically acclaimed but slow-selling performance sedan whose future is the subject of intense speculation. Thanks to an interview in Top Gear with the head of Kia design, Karim Habib, we now have not only official confirmation that the four-door fastback is getting a mid-cycle refresh, but also some hints about how the model might stick around by evolving. In the interview, Habib said he hopes that the “spirit of the Stinger” remains as the Kia brand evolves. “As the technology goes toward EVs and as the world and its appetite for these types of cars changes, the concept probably has to evolve as well,” he said. Is that a hint that the Stinger might eventually go electric? LetÂ’s explore. Kia has already announced its intentions to launch 11 new electric vehicles globally by 2025, including some with an 800-volt charging system for high-speed charging. TheyÂ’re doing so on a platform that will be purpose-built for EVs in partnership with Hyundai that can support larger and more powerful electric vehicles than either the Soul EV or Niro EV, KiaÂ’s two existing battery-electric offerings. Presumably that opens the door to build an electric Stinger or similar four-door sedan — Habib talked about the need to keep the “sporty, affordable, beautiful sculpture” around, if not necessarily the nameplate itself. But electrifying the Stinger would in all likelihood easily eclipse the 255-horsepower from the base 2.0-liter turbo-four and at least match the 365 hp offered by the twin-turbo V6. It would also undoubtedly represent a huge upgrade in fuel economy, which tops out at 25 mpg combined and is one of the StingerÂ’s few weak points. Kia is also working on battery technology that promises up to 310 miles of driving range. For now, anyway, we know from spy shots that Kia is preparing to give the Stinger interior and exterior styling updates and, reportedly, slight power boosts by tweaking the existing 2.0-liter and 3.3-liter mills. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.