Filed under: Car Buying, Hyundai, Kia, Earnings/Financials, Luxury, South 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.Why BMWs are cheaper than Hyundais in Korea originally appeared on Autoblog on Sat, 18 May 2013 08:51:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
Filed under: Classics, Audi, Chevrolet, Mercedes-Benz, Nissan, Porsche A few weeks ago, we bid a fond happy 40th anniversary to the automotive dark ages of 1973-84 that have come to be known as "The Malaise Era" - the performance ice-age when 160 horsepower was a lot and a 0-60 time of under 10 seconds was remarkable. Like music in the 1980s, everything in automobiledom didn't suck, however. There were a few bright spots. Here are five of our favorites: 1976-79 Porsche 930, aka 911 Turbo Carrera (above) Photo Credit: Dorotheum While Chevrolet beat them by a decade with the turbocharged Corvair Corsa, the Germans more fully developed turbocharging through racing where General Motors couldn't. Early Porsche 930s (known technically as 911 Turbo Carreras) were a bit crude, with turbo lag that could be measured with an egg timer. They lacked an intercooler as well as brakes that were up to the task, but performance was sensational, with the buff books reporting 0-60 times of anywhere from 4.9 to 5.8 seconds and quarter-mile times of under 14 seconds. This was '60s muscle car performance at the height of the Malaise Era. Sadly, the 930 cost about six times as much as your average muscle car did. Rob Sass is the Publisher of Hagerty Classic Cars magazine. He is a regular contributor to the automotive section of the New York Times and is the author of "Ran When Parked, Advice and Adventures from the Affordable Underbelly of Car Collecting." Continue reading Malaise Era All-StarsMalaise Era All-Stars originally appeared on Autoblog on Fri, 17 May 2013 16:28:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
HAMBURG (Reuters) - Germany's Daimler pulled the covers off its new flagship Mercedes-Benz S-Class luxury saloon on Wednesday, a critical product launch for a company struggling to make a dent in the lead that rivals BMW and Audi enjoy in sales and profit.
Star Trek†fans everywhere have been watching, sharing and re-watching The Challenge,†a sly Audi ad that, as a comedy vehicle, comfortably
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