2003 Kia Sedona Lx Mini Van Passenger 5-door on 2040-cars

Auto blog

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 putting GT Concept into production, roadster concept due in Detroit

If you were enamored of the GT concept that Kia unveiled at the Frankfurt Motor Show two years ago, we've got good news for you. According to the latest reports, Kia is planning on putting it into production.
The big question at this point is how closely the production model will shadow the four-door coupe concept. The svelte shape will undoubtedly have to make some concessions toward roadworthiness and production feasibility, but just what platform Kia will use to underpin it remains unknown. It could base it off the large, rear-drive K9 or borrow the platform from sister-company Hyundai's Genesis Coupe. Either of those options would enable the production Kia GT to keep the concept's rear-drive orientation, but other routes would make it either front-drive or potentially all-wheel drive.
Word has it also that Kia is planning to reveal a small roadster concept in the mold of the Mazda MX-5 at the upcoming Detroit Auto Show in January. If public feedback is positive enough, that could see production before the end of next year as well.

Hyundai, Kia ratchet up fleet sales as retail transactions slide

Automotive News reports both Hyundai and Kia have stepped up fleet sales in an attempt to offset disappointing first quarter results. The Korean automakers saw their sales decline by nine percent compared to last year, while all major competitors managed to increase their sales. That situation marks an inversion of two years ago, when both gained ground after Japanese rivals suffered production and inventory shortages after the country's earthquake and tsunami tragedies.
Now, Hyundai can't come up with enough volume models in popular trim configurations to satisfy buyers, and lower-volume models are also in a snag. At the moment, Hyundai can only build 20-30 percent of Veloster hatchbacks with turbocharged engines while the US market would apparently support closer to 70 percent.
In order to reverse the sales slide, Hyundai and Kia have stepped up fleet sales of the vehicles they do have by some 50 percent, ringing up a total of 42,400 units in the first quarter. By contrast, Automotive News reports the seven largest automakers increased retail volume by seven percent and fleet sales by four percent as a group.