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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.

Mini fini: The Mini Clubman passes into British motoring history

Au revoir, Clubman. The veddy British Mini model that found a loyal following in the UK and elsewhere for more than a half-century has folded its spilt rear “barn doors” for the final time. The ultimate Clubman — assuming there wonÂ’t be another sequel, and Mini says there won't — rolled off the production line Monday at Mini Plant Oxford in England. The Mini “estate” version bows out after 17 years of build at Oxford and more than a half-million units churned out for deliveries to more than 50 countries. The heritage of the Clubman — and of most Minis — is worth recalling because the brand has spawned such affection among its fans. One has to deep-dive back to the early Sixties, when MiniÂ’s owner, British Motor Corporation (BMC), introduced two estate versions of the original Mini: the Austin Seven Countryman and Morris Mini Traveller. In 1967, the characteristics of existing Mini wagons were combined to form the first Clubman. lt was axed in 1982 — after it was once renamed as the 1000HL — and the Clubman wouldn't return until 2007, with the brand then under the auspices of BMW. Modern vehicle safety standards presented a challenge for those rear doors. “We needed to ensure that both doors would always open fully without obscuring the rear lights, which was a legal requirement,” said Guy Elliott, who was part of the development team for the doors at the time. The reborn Clubman was updated in 2015 for a second generation. It adopted Mini's signature circular daytime running lights, a feature still seen today, and ditched the unusual rear doors for a more conventional setup. Last year Mini launched the “Final Edition” of the car, with a special grille and alloys and limited it to a run of 1,969 units, paying homage to the launch year of the original. The BMW Group says it expects to invest about $750 million in the next few years in realigning the Oxford plant to accommodate assembly space for the upcoming electric Aceman crossover and new Cooper variations later this year.

Karma Automotive partners with BMW for powertrains

Now in the process of rising from the ashes of Fisker, the newly renamed Karma Automotive has announced a powertrain supply deal with BMW. Only instead of Karma providing BMW with technologies (as Tesla has for Daimler and Toyota), this deal goes the other way around. It is BMW that will be providing Karma with its powertrain components moving forward. Little in the way of specifics was disclosed regarding precisely what the supply deal will entail. However according to the statement below, it will include "high voltage battery charging systems and a wide range of hybrid and EV systems." BMW has demonstrated its competence in developing and manufacturing such components with vehicles like the i3 and i8, and ActiveHybrid versions of the 3 Series, 5 Series, and 7 Series sedans. Karma Automotive is what Chinese component manufacturer Wanxiang renamed the company formerly known as Fisker Automotive once it acquired the rights to the company and the Fisker Karma which it previously produced. The brand name, however, remained the property of Henrik Fisker's coachbuilding operation. The original Fisker Karma was powered by a 2.0-liter turbo four supplied by General Motors, with a lithium-ion battery pack from A123 systems. Karma Automotive Signs Supply Agreement With BMW COSTA MESA, Calif., Nov. 12, 2015 /PRNewswire/ -- Karma Automotive announced today that BMW has agreed to be a supplier in ensuring their vehicles are built with the highest quality automotive parts. BMW will supply Karma Automotive with their latest powertrain components, including high voltage battery charging systems and a wide range of hybrid and EV systems. Throughout automotive history, BMW has been globally recognized for engineering and manufacturing world-class products. They are a proven technology leader and renowned for conceiving and delivering groundbreaking innovations. Karma Automotive will integrate the first BMW components into its plug-in hybrid flagship vehicle, which will re-launch in 2016. The next generation of vehicles already in development will utilize more of BMW's powertrain technology. "The Wanxiang Group is giving Karma Automotive the opportunity to bring a stunning car back to the market, and the partnership with BMW and their outstanding track record is a great fit for the future," said Karma's CEO Tom Corcoran.