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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.

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Kia previews new minivan ahead of New York debut

Kia has grown by leaps and bounds in recent years, but the Sedona has hardly been representative of that maturation. Known in some overseas markets as the Carnival, Kia's current minivan was introduced 2006, withdrawn from US showrooms at the end of 2012, then reintroduced again a year ago. Despite the product renaissance, however, the Sedona is essentially the same dated vehicle it has been for eight years now, but Kia is intent on replacing it.
We've been seeing spy shots of a new Kia minivan for several months now, and broke word a couple of months ago that the finished product would be unveiled in New York this month. Now Kia has not only confirmed the new Sedona's imminent arrival, it has released this teaser image to keep us on our toes.
The teaser shows a vehicle more or less in line with what we'd expect of a modern Kia, tabbed grille and all. This view suggests fewer design cues from the KV7 concept have been carried over than was previously thought, but we'll need to see the entire vehicle to know for sure. Kia isn't saying much about its "all-new midsize multi-purpose vehicle" in the press release below at this point, revealing only that it "will challenge the segment and will offer the functionality to transport as many as eight passengers and their belongings while also serving as a purposeful offering for adventure seekers."