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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.

Meet Hyundai's new flagship, the Genesis G90

Hyundai just revealed the first vehicle for its new Genesis luxury brand. It'll be called the EQ900 back home in Korea, but to the rest of us, it will be known as the Genesis G90, effectively replacing the Hyundai Equus. The G90 is as big as a Mercedes S-Class, but like the outgoing Equus, will be priced closer to the E-Class. Exterior dimensions are incrementally larger than the outgoing Equus, and compare roughly to the Mercedes S-Class (in the long-wheelbase form we get in America). But if Hyundai keeps pricing in line with the Equus we currently know, the G90 will be priced closer to the smaller E-Class. Design was carried out under the watchful eye of Peter Schreyer at the company's new Prestige Design Division, headlining a new Athletic Elegance design language that will expand to the five new Genesis-branded models coming after the G90. The front end is characterized by a Crest-shaped grille with the Genesis brand's new winged emblem (also projected onto the pavement from the side mirrors), and flanked by LED headlamps. A chrome beltline bridges to the rear with its dual exhaust tips. While the interior of the Equus may not have been up to par with the competition, the G90's cabin looks poised to rival the best of them. Italian leather offsets real wood trim. The ergonomic seats are certified by German back specialists, with 22-way power adjustment for the driver and 14 ways for the other occupants. In Korea the EQ900 even features a Smart Posture Caring system that positions the seat, steering wheel, head-up display, and outside mirrors to the driver's optimal position. There's a 12.3-inch high-definition screen in the dashboard, a megapixel parking camera, 360-degree around-view monitor, Lexicon surround sound system, and wireless inductive phone charging – all of which adds up to what looks like a sumptuous environment in which to pass the miles. While the Equus is powered exclusively by a V8, the G90 offers three engine options. While the Equus is powered exclusively by a V8, the G90 offers three engine options: Least potent is the new 3.8-liter V6 launched in the Kia K900, rated at 311 horsepower. There's a 3.3-liter turbocharged V6 good for 365 hp. And the 5.0-liter V8 carries over at 419 hp (though the current version is quoted at 429 hp), propelling the sedan to 62 miles per hour in 5.7 seconds. Power in any case is transmitted through an eight-speed automatic transmission to either the rear wheels or all four.

Hyundai ranks highest in Total Value Awards with Equus leading all cars

Hyundai has taken the cake in Strategic Vision's 18th Total Value Index. The study, which looked at 45,952 new car buyers for 2013 models between September 2012 and March 2013, looks at the ownership experience along with the customer's views on the economic impact of the purchase in both the near and long term.
For the first time, Hyundai was ranked as the leading brand for Total Value, while its Equus luxury sedan scored both the highest overall score and took the crown in the luxury segment. Other Hyundai winners included the Sonata (tied with Fusion), Genesis Coupe and Elantra.
Ford scored quite well, too, taking the segment titles with the Fiesta Sedan (which tied with Elantra), Fusion, Focus Hatchback, Taurus (tied with Dodge Charger), Explorer and Lincoln Navigator. General Motors' cars and trucks managed to capture eight segments, while Toyota topped six areas.