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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.

Hyundai Ioniq hybrid and EV sales begin this month

South Korean automaker Hyundai will start selling its Ioniq hybrid and electric-vehicle variants at some US dealerships by the end of the month. While reports have surfaced saying the Ioniqs may be available as soon as this week, Hyundai spokesman Jim Trainor confirmed to Autoblog that the Ioniq EV and hybrid would arrive at dealers towards the end of February. California will be the primary EV target from launch, naturally. Hyundai got some good news in late December when the US Environmental Protection Agency (EPA) rated the Ioniq Hybrid's combined fuel efficiency at 55 miles per gallon, or three mpg ahead of the standard 2017 Toyota Prius hatchback. Less rosy is the Ioniq EV's single-charge range, which falls well short of the magic 200-mile number reached by Chevrolet's recently-debuted Bolt, checking in at 124 miles. Still, the Ioniq EV trumps the Chevrolet Bolt in terms of miles-per-gallon-equivalent (i.e. electricity used per mile), getting a 136-mpge combined rating versus the Bolt's 119. The Ioniq Plug-in Hybrid (or the "Blue") gets 58 mpg combined and can go as far as 31 miles on electricity alone. That variant may see the light of day as soon as September. The automaker first showed off versions of the four-door sedan at last year's New York Auto Show. Hyundai, which currently sells a hybrid version of the Sonata, is planning to have as many as 14 electrified-powertrain vehicles by 2020. Green-car watchers are hoping the Ioniq EV and hybrids won't be low-volume affairs and will add to the momentum already generated this year by the introduction of the Bolt as well as higher demand for models such as the Ford Fusion Hybrid and Honda Accord Hybrid. Last month, total US green-car sales were up about 27 percent from a year earlier, while plug-in sales surged 74 percent. Related Video: Featured Gallery 2017 Hyundai Ioniq: New York 2016 View 11 Photos Image Credit: Drew Phillips Green Hyundai AutoblogGreen Exclusive Hatchback Electric Hybrid hyundai ioniq hyundai ioniq electric hyundai ioniq plug-in

Hyundai recalls 205,000 Elantras for possible power steering failure [UPDATE]

UPDATE: Autoblog reached out to Hyundai spokesperson Jim Trainor for more information about this recall. He let us know via email: "Owners will be notified beginning in the second quarter." Also, there have been "no accidents, injuries nor fatalities," as a result of this issue. Hyundai is recalling 204,768 examples of the 2008-2010 Elantra sedan and 2009-2010 Elantra Touring because of possible failure of the electrically assisted power steering. The problem in these vehicles is that the ECU for the power steering can "sense a discrepancy in the steering input signals and, as a result, disable the steering power assist," according to documents submitted to the National Highway Traffic Safety Administration. If this happens, then drivers could suddenly experience a more difficult time driving the Elantras. According to a chronology submitted to NHTSA (that you can read in full as a PDF, here), Hyundai first became aware of this problem in 2010 and issued a TSB for it in 2011. At that time, just 0.25 percent of sedans and 0.36 percent of Touring models were shown to have the fault. However by October 2014, the issue had gotten worse, and 1.3 percent of four-doors and 1.9 percent of the hatchbacks were exhibiting it. The automaker believed that by maintaining manual steering the vehicles were still within the law, but "the industry has increasingly handled similar issues through safety recalls." In most cases, turning the ignition off and then back on rectifies things, but to fix this, Hyundai is updating the power steering control unit on these models. RECALL Subject : Electric Power Steering Assist may be Disabled Report Receipt Date: FEB 23, 2015 NHTSA Campaign Number: 15V100000 Component(s): STEERING Potential Number of Units Affected: 204,768 All Products Associated with this Recall Vehicle Make Model Model Year(s) HYUNDAI ELANTRA 2008-2010 HYUNDAI ELANTRA TOURING 2009-2010 Details Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2008-2010 Elantra vehicles manufactured June 1, 2008, to April 30, 2010, and 2009-2010 Elantra Touring vehicles manufactured November 1, 2008, to April 30, 2010. The electronic power steering (EPS) electronic control unit (ECU) may sense a discrepancy in the steering input signals and, as a result, disable the steering power assist.