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Trump wants a trade deal, but South Korea doesn't want US cars

SEOUL - US auto imports from the likes of General Motors and Ford must become more chic, affordable or fuel-efficient to reap the rewards of President Donald Trump's attempts to renegotiate a trade deal with key ally South Korea, officials and industry experts in Seoul say. Meeting South Korean President Moon Jae-in last week in Washington, Trump said the United States would do more to address trade imbalances with South Korea and create "a fair shake" to sell more cars there, the world's 11th largest auto market. "What we really want to say to the United States is: Make good cars, make cars that Korean consumers like." While imports from automakers including Ford, Chrysler and GM more than doubled last year largely thanks to free trade deal which took effect in 2012, sales account for just 1 percent of a market dominated by more affordable models from local giants Hyundai and affiliate Kia. Imports make up just 15 percent of the overall Korean auto market, and are mainly more luxurious models from German automakers BMW and Daimler AG's Mercedes-Benz, which also benefit from a trade deal with the European Union. "Addressing non-tariff barriers would not fundamentally raise the competitiveness of US cars," a senior Korean government official told Reuters, declining to be identified because of the sensitivity of the subject. "What we really want to say to the United States is: Make good cars, make cars that Korean consumers like." TASTE BARRIER In Korea, US imports are seen as lagging German brands in brand image, sophistication and fuel economy, industry experts say. US imports do have a competitive advantage in electric cars: Tesla Motors' electric vehicles are seen as both environmentally friendly and trendy, while GM has launched a long-range Bolt EV. US Commerce Secretary Wilbur Ross had cited a quota in the current trade deal as an obstacle to boosting imports. The quota allows US automakers to bring in each year 25,000 vehicles that meet US, not necessarily Korean, safety standards. Should GM, for example, decide to bring in more than its quota of one model - the Impala sedans - it would cost up to $75 million to modify the cars to meet Korean safety standards, the company told its local labor union. Asked about non-tariff barriers, a spokesman at GM's Korean unit said removing them could expand the range of models the company can bring in from the United States. No US company, however, has yet to make full use of the quota, industry data shows.

Hyundai Palisade and Genesis GV80 production idled

In February of this year, the coronavirus pandemic forced Hyundai Motor Company to idle production at most of its factories in South Korea. The Chinese suppliers that provided wiring harnesses for models like the Hyundai Palisade and Genesis GV80 hadn't recovered from their COVID-19 shutdowns, causing a shortage of components. Since then, Hyundai, along with automakers around the globe, has faced repeated hurdles to restoring desired production numbers. Just-Auto reports another hiccup, with Hyundai compelled to shut down lines that build the Palisade and GV80 at its Ulsan, South Korea complex again last week over a lack of parts. Just-Auto didn't specify the parts in question. On top of that, Hyundai had already idled three lines at two plants after an employee at a supplier died, the cause of death thought to be COVID-19. Kia needed to do the same for two entire facilities in South Korea after two plant workers were diagnosed with the illness. In the U.S., Hyundai Motor Manufacturing Alabama was idled from March 18 to May 4, resuming production at lower output on May 4 to manage inventory after the coronavirus and lockdown measures gutted new car sales.   Hyundai, like giant Ford and tiny McLaren, will be ruing the lost momentum of its recovery. The group turned in its best quarterly profit since 2017 at the end of last year, thanks to the larger margins that crossovers and SUVs deliver. Hyundai brand U.S. sales last year of 688,771 units was tantalizing close to an annual sum the brand hasn't hit since 2012. In January, the automaker predicted it would improve on last year's 3.5% group operating profit margin by hitting 5% this year. The nearly 10,000 reservations taken for the GV80 fueled the optimism, when Genesis sold just over 21,000 vehicles in total last year in the U.S. However, through the first quarter, group sales were down 11% globally and in the U.S. Worse, Just-Auto says the group's global sales have nosedived 26% through the first five months. The production halts on the models that deliver the best return will prolong the pain and make it sharper. Related Video:

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.