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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.

Only 3 new cars cost under $20,000. Here’s what you should buy used instead

Looks like some more people have realized something we pointed out late last year. There are only three new cars under the magic $20,000 price limit currently for sale in the United States. Those three vehicles are the Nissan Versa with a starting price of $16,925 (all prices here include destination fee), the Kia Rio at $17,390 and the Mitsubishi Mirage at $17,650. Should push come to shove, so to speak, we'd probably pick the Nissan as our top choice among those three due to its practicality, comfort and overall polish when compared to its similarly priced peers. But really, as we've suggested before, there are better options. Our top pick for a used vehicle under $20,000 remains the Chevy Volt. It's stylish, comfortable, practical and, above all else, efficient, assuming you can plug it in at home. If you don't have access to a plug at home, you'll likely be able to find a very gently used car for the same price as one of the budget options above. We'd check out the Honda Fit, Kia Soul, Subaru Impreza, Toyota Corolla hatchback and Volkswagen Jetta from the  model years and aim for something with under 20,000 miles and with a year or two left of its factory warranty. A quick inventory search shows that some of those cars, notably the Impreza and Jetta, can even be found Certified Pre Owned in most parts of the country. For a more thorough breakdown of some of the available used-car options we'd recommend, check out our guide to the Best Cars Under $20,000. For what it's worth, with the average new car transaction price hovering alarmingly close to $50,000, we wouldn't expect to see any more options coming any time soon for well under half that sum. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Kia Mitsubishi Nissan Car Buying Used Car Buying Sedan

Production version of Kia Imagine concept due in 2021

In an interview with Automotive News Europe, Kia Europe COO Emilio Herrera said the Imagine concept that debuted at this year's Geneva Motor Show should turn into a production model "in one or two years." Gregory Guillaime, Kia's European VP of design, said the Imagine is a "large C-segment car" intentionally blurring the distinctions between body types, a press release describing the concept as "drawing together elements of a muscular sports utility vehicle, a sleek and athletic family saloon, and a versatile and spacious crossover." Herrera didn't give any details on how the production version will differ from the concept. Flourishes like the windshield glass flowing uninterrupted into the roof and the 21 interior screens aren't likely to make it out of the studio. We do know that Kia plans a new, pure EV architecture shared with Hyundai. This will support larger, more powerful electric offerings that boast more range than products like the Kia e-Niro and Soul EV. The e-Niro is rated at 282 miles on Europe's WLTP cycle, it's said Kia wants to hit 500 miles of range. The automaker would only say of the Imagine's powertrain that it is "a low-mounted, induction-charged battery pack that powers a compact drivetrain." More importantly, the powertrain will focus on performance, "approaching electrification purely from an emotional point of view,” and pitched by Autocar as competing against EVs like the Polestar 2. As a C-segment competitor like the Ford Focus or Volkswagen Golf, the chances of the Imagine making it to the U.S. are unknown. Herrera made his comments in a conversation about Europe's impending CO2 emissions regulations. At one point, Herrera explained the five methods he sees for dealing with the emissions caps, and we can already divide automakers among those five tactics. The Imagine, and other Kia vehicles with alternative powertrains on the way, are how the Korean automaker will avoid fines. The full interview is worth a read. Herrera lays out some of the difficulties in the EV landscape, such as achieving the necessary volumes, pricing, and battery supply, and explains why he doubts some competitor's claims about launching inexpensive subcompact EVs. Related Video: