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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.

BMW's new strategy: Electric everything

Mercedes isn't the only car maker determined to beat Tesla before it gets huge. Sources speaking to German business daily Handelsblatt claim that BMW is in the midst of planning an executive shuffle that will also include a big shift in its electric vehicle strategy. While the company would still offer ground-up EV designs like the i3, the new strategy would greenlight electric versions of some of BMW's most important vehicles, including the 3-series sedan, X4 crossover, and iconic Mini. If the leak is accurate, management is likely to approve the change at the end of September. We've asked BMW for its take on the report, although it declined to comment to Handelsblatt. It wouldn't be shocking to see the Munich crew change tack, though. While Tesla has received hundreds of thousands of Model 3 pre-orders, i3 sales dropped in 2016 – the upscale (if oddly-shaped) EV just isn't as hot as it once was. If BMW electrifies some of its most popular cars, you wouldn't have to choose between a super-efficient, eco-friendly EV and the familiar designs of the brand's mainstream driving machines.The story originally appeared on Engadget, your guide to this connected life.Related Video: Featured Gallery Mini Vision Next 100 Concept View 38 Photos Green BMW MINI Electric Hybrid engadget

BMW M6 amped up for track duty by Risden

Risden Engineering is a bit of an unknown, if we're being completely honest - we have yet to report on the company to date, and its corporate website is really an information desert save for the name and a few email addresses. Even the press release that we requested from Risden's contact person is short and vague. That's all pretty much okay with us as long as the shadowy tuners, you know, make good on this sweet-looking BMW M6 racecar thing.
Dubbed the Risden 6R, we're told that the M6 modification will result in a vehicle that is more adept at track work, while still being street-legal. In terms of specifics, we read that a full aero kit will be involved, with one fixed and one retractable rear wing (hard to miss). There are obviously new wheels, and the company has also added a fully adjustable suspension, a four-point roll bar and a new braking system - all while reducing curb weight overall.
Apparently more details are to follow after the 6R's official release in the first quarter of 2013. We wait with bated breath.