2004 Kia Sorento Ex Sport Utility 4-door 3.5l on 2040-cars

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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.

Kia teases next-gen K5 in South Korea, foreshadows our Optima

Now that the redesigned Hyundai Sonata is down the road burning gas, Kia's loading the next-generation Optima into the chute. The automaker teased the South Korean-market K5 — our Optima — on Facebook, revealing a sedan that will bring a new attitude to the midsize competitor. The sketches largely line up with spy shots we got a couple of months ago, starting with the clamshell hood running down to a narrower, wider tiger nose grille. Two creases in the center of the hood bracket the Kia logo. We can't know what trim is on display in the rendering, but the pictured upper and lower grilles give up the mesh pattern on the current car for horizontal strakes. A pair of DRLs frame the front fascia, the Z-shaped light signature longer and more abstracted than that on the Cadenza sedan.  The profile includes a couple of signature strokes that create a wholly different impression. Moving the side mirrors to the doors emphasizes the sharp takeoff point for the greenhouse, emphasized with a chrome trim strip that could have come off a stretched Aston Martin DB11. Instead of the rear glass behind the C-pillar picking up from the edge of the backlight as on the current car and forming their own profile, the sketch show a faster glass design angled back to follow the shape of the roof. Lower down, the character line in the sketch rises from the front wheel arch to the rear door, then falls sharply to the rear wheel arch. We can't make out this line in any of the spy shots, though. The rear gets a lot edgier. It's possible the chrome greenhouse trim dips around the bottom backlight to form a single line around the car. A short decklid is backed by an integrated lip. A single taillight of dashed LEDs runs across the width, bookended by a tight V shape.  Wholesale change inside stresses the horizontal span. A slightly modified steering wheel sits ahead of a digital dash cluster. A second widescreen sits atop an instrument panel cut by wide, narrow vents and marked by fewer buttons. On the center console, the shifter's replaced with a rotary knob.  A debut could come before the end of the year, the sedan likely a 2021-model-year offering. Engines should mirror Sonata powertrains, consisting of a 1.6-liter four-cylinder and a 2.5-liter four-cylinder shifting through an eight-speed transmission, and a more powerful turbocharged four-cylinder expected to join the lineup.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.