As Genesis Turns 10, The Next Step: Establishing Magma as a High-Performance Force
Genesis was founded as a standalone premium brand only a decade ago. But in that short time, the South Korean upstart has earned accolades for quality, design, technology and service. Now, as the South Korean player prepares to celebrate its 10th anniversary in November, executives want to snap into place the brand’s last missing piece: high performance.According to Automotive News, the ambitious push begins by year end with the launch of the GV60 Magma, the first nameplate in a Magma performance program that Genesis launched in March 2024.Magma will elevate Genesis to true luxury status, brand bosses say. It will be South Korea’s answer to Porsche, or the Mercedes-AMG and BMW M lines, but with a Genesis twist. In detailing the strategy to Automotive News, executives said Genesis’s push into high-power, high-emotion, track-capable premium cars will define the brand’s second decade.“Genesis itself wants to become a kind of luxury performance car,” global brand head Mike Song said in a Sept. 22 interview, his first with Automotive News since taking the helm of Hyundai Motor Group’s fast-growing premium brand in 2023.Click here for the full story.
Trump Considering Significant Tariff Relief for U.S. Vehicle Production, Sen. Bernie Moreno Says
President Donald Trump is considering significant tariff relief for U.S. auto production that could effectively eliminate much of the costs major car companies are paying, freshman U.S. Sen. Bernie Moreno and auto officials told Reuters Friday. “The signal to the car companies around the world is look you have final assembly in the U.S. We’re going to reward you,” Moreno, R-Ohio, said in an interview. “For Ford, for Toyota, for Honda, for Tesla, for GM, those are the almost in order the top five domestic content vehicle producers — they’ll be immune to tariffs.” In June, the Commerce Department said it planned an import adjustment offset equal to 3.75 percent of the suggested retail price for eligible U.S. assembled vehicles through April 2026 and then a second year at 2.5 percent to address tariffs from imported automobile parts. Trump is considering keeping the offset at 3.75 percent and extending to five years, and expanding the offset to U.S. engine production, Moreno and auto officials said. Moreno, a longtime auto dealer from the Cleveland area, said he thinks Trump will make a final decision soon. Click here for the full story.
Surge of Counterfeit Parts Puts Consumers at Risk, Service Departments on Edge
A failed water pump led to a blown head gasket in a Toyota Prius, wrecking the engine. A spark plug melted and fell into its cylinder, ruining the engine of a Toyota Land Cruiser. A starter in a Toyota Camry malfunctioned after a year. These situations may seem unrelated, but there’s a common link: The failed parts were purchased online and billed as — and looked like — genuine Toyota parts, but they were counterfeit, said Ahmed Ibraheem, owner of The Car Care Nut Automotive in suburban Chicago. Ibraheem came across counterfeit parts often enough that about two years ago, he required customers to sign a waiver if they wanted him to use parts they bought online, relieving him of liability for any ensuing issues. In August, the Toyota master diagnostic technician went even further, opting to no longer install parts purchased online by customers. “I started asking myself, ‘Why are we doing this?’” he told Automotive News. “Most of our customers buy parts from us, so why should we put our reputation on the line for such a small percentage of customers? “Even if customers are insistent, it’s still a solid no,” Ibraheem said. Click here for the full story.
America Keeps Adding EV Chargers. Will There Be More Drivers to Use Them?
It is getting easier to find EV chargers in the U.S. just as the market for electric vehicles hits the skids. The long-beleaguered business of charging battery-powered cars is maturing after a two-year construction spree. According to The Wall Street Journal, the number of fast-charging ports—those that can repower a battery in 20 minutes to an hour—rose more than 80 percent in the two years that ended in August to more than 60,300, according to federal data from the Joint Office of Energy and Transportation.The pace of the buildout has accelerated of late: The U.S. added more than 7,000 fast chargers in the first half of the year, up 18 percent from the same period last year.The timing is somewhat ironic. EV sales are expected to plunge following this week’s expiration of a $7,500 federal tax credit that boosted the number of battery-powered cars on the road. “The charging industry is really maturing at a time when the rest of the EV industry is in this period of uncertainty,” said Nick Nigro, founder of Atlas Public Policy, a data and policy research firm. Click here for the full story.
U.S. Auto Market Faces Pricing Pressures, Softening Demand in Q4 – Kevin Tynan | The Presidio Group
As the automotive industry enters the final quarter of 2025, dealers face a complex mix of softening sales volumes, rising vehicle prices, and shifting consumer behavior. On today’s episode of CBT Now, we’re joined by Kevin Tynan, the director of research at The Presidio Group, who breaks down Q3 trends, the impact of expiring EV tax credits, and what dealers can expect heading into 2026. To start, Tynan notes that tariff-driven pent-up demand earlier this year created temporary sales spikes, but much of that has since eased. Consumers are now showing resistance to record-high vehicle pricing, forcing wider discounts and raising new affordability concerns. Additionally, new vehicle MSRP has exceeded $51,000 for most of the year and could climb further if automakers pass along previously absorbed tariff costs. Tynan argues that these price increases are not fully justified by technological improvements, leaving buyers reluctant to upgrade. Buyers are holding onto vehicles longer, with the average age now exceeding 12 years. Without compelling technological upgrades or affordable options, consumers are reluctant to replace them. Click here for the full interview.
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