2014 Hyundai Sonata Gls on 2040-cars

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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.

Heads up: Hyundai mostly reveals the Kona crossover

Hyundai is set to reveal its new Kona crossover to take on other funky compacts like the Kia Soul, Nissan Juke, and Toyota C-HR. But before it fully reveals the car, the company has mostly revealed the car in the form of new images and a teaser trailer. The photos show us both three-quarter shots from the front and the back, and the car is surprisingly well-lit. These photos give us our best look yet at the mean-looking split headlights of the Kona, as well as its iteration of Hyundai's corporate grille and upper scoop. The aggressive front end is matched by bulging fenders, thick black fender flares, and a deep, sculpted character line running down the side of the car. It looks like the Kona will also have a trendy contrasting roof, too. The aggressive front and sides come to a somewhat underwhelming conclusion at the back. The rear hatch looks like fairly generic Hyundai. But it does appear to be bolstered by some chunky-looking rear reflectors that house the reverse lamps. Those reflectors also appear to be surrounded by the same black material the fender flares are made of. The rear bumper, which is one of the few things that isn't visible, will likely also look fairly tough and rugged. The teaser trailer shown below doesn't reveal quite as much of the Kona, but it does highlight a feature of which Hyundai is rather proud: the heads-up display. It's the first heads-up display used on a Hyundai product, and it uses a pop-up panel onto which information is displayed. It works pretty much like the displays used by Mazda and Mini. So it isn't anything particularly remarkable, but the availability of a heads-up display is always nice, and the color projection does look attractive. Look for more details and the full reveal of the Kona later this summer.

Hyundai shutters engine development in shift to electric and hydrogen vehicles

Hyundai is quickly pivoting into an era of electric vehicles. Shortly after announcing it would halve the number of internal combustion models, it launched its first EV on its dedicated Electric Global Modular Platform (E-GMP), the supremely enjoyable Ioniq 5. Now, as The Korea Economic Daily reports, Hyundai Motor Group, which includes sister brand Kia and luxury brand Genesis, has closed its engine development division at its research and development center in South Korea to put those resources into electric powertrain development. According to the report, researchers from engine design are moving to its electrification design center, but a few remain behind to continue to refine existing internal combustion engines. The powertrain system development center will become an electrification test center, and the performance division will focus on electric performance. The group has also established a battery development center, and the R&D Center will also focus on raw materials for batteries and semiconductors. In an email, R&D boss Park Chung-Kook told employees, “Now, it is inevitable to convert into electrification. Our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past.” Hyundai Motor Group is targeting one million EVs a year by 2025, and full electrification by the year 2040. In addition to the newly launched Ioniq 5, Hyundai is planning to launch the Ioniq 6 EV, based on the stunning Prophecy concept, in 2022, and weÂ’ve already seen spy shots of that prototype in testing. That will be followed by the full-size Ioniq 7 SUV in 2024, which was recently previewed by the Seven Concept at the 2021 L.A. Auto Show. Kia is set to launch the EV6 in 2022, and Genesis recently revealed the GV60 electric crossover, both of which will use HyundaiÂ’s E-GMP architecture. Genesis also recently revealed an electric version of the GV70 crossover in China. Of course, Hyundai is also invested in hydrogen fuel cell vehicles, both commercial vehicles like its Xcient trucks, and passenger cars like the Nexo and the recently revealed Vision FK concept. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.