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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.

Audi claims World Endurance Championship at Fuji

It's been a successful racing season for Audi so far this year. After claiming the drivers' title in the DTM series, the German automaker has successfully defended both its titles in the FIA World Endurance Championship.
The decision came after heavy rain ended the 6 Hours of Fuji after only 16 laps, virtually the entire race having been run behind the safety car. Although Alexander Wurz, Nicolas Lapierre and Kazuki Nakajima won the race for Toyota - the Japanese automaker's first this season - the second-place finish achieved by Allan McNish, Tom Kristensen and Loïc Duval propelled Audi Sport Team Joest out of its challengers' reach.
While the actual drivers' title still remains in contention, the battle now comes down exclusively to the two leading Audi trios: McNish, Kristensen and Duval hold the lead with 147 points ahead of André Lotterer, Marcel Fässler and Benoît Tréluyer, who hold 106.25 points in the standings. Either way, Audi will be awarded both the drivers' and manufacturers' titles in the series with two races still to go in Shanghai and Bahrain.

Audi takes cars that park themselves to a whole new level

Autonomous cars are impressive displays of in-car technology, but what exactly would the benefit of such systems be for the average driver? Audi has answered that question by showing off its Piloted Parking system for the Audi Connect at CES 2013.
Installed on this Audi A7, Piloted Parking allows a driver to drop themselves off and have the car autonomously drive away on its own and find its own parking spot. The car can then later be retrieved by "calling" it back with a specially designed smartphone app. We'd be lying if we said this didn't bring back memories of Michael Knight summoning KITT with his wristwatch. The most impressive part of this car might be the fact that the car is fully autonomous but doesn't have any obvious sensors or monitors on the exterior of the car like many other self-driving cars have.
Check out a video of the this innovative technology in action after the jump.