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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Facelifted Hyundai Veloster to get new 7-speed DCT, Flex Steer

No matter how you look at it, the Hyundai Veloster is an odd duck. With the vehicle's weird door configuration and styling that kind of looks like a modernized Honda CRX, the model is certainly unlike anything else on the road today. Since spotting one testing earlier this year (pictured above), we know that a refreshed version is on the way eventually, but that car keeps a lot of its secrets hidden under camouflage. New rumors from The Korean Car Blog suggest that the Veloster might receive a few mechanical changes to go along with the updated skin.
Among the biggest rumored tweaks is that the turbocharged model is receiving a seven-speed, dual-clutch gearbox as a replacement for its current, conventional six-speed auto. Another potential change for the naturally aspirated version is Hyundai's Flex Steer system that offers selectable weighting for the electric power steering.
Styling obviously isn't being left alone for the update. The mule testing earlier this year appears to show a new grille and altered bumpers underneath its concealment. The latest rumors suggest that's exactly the case with the possibility of a front end closer in design to the current Genesis, along with HID headlights and a modified hood design to remove the faux heat extractors.

Senator calling for answers from Hyundai and Kia over MPG debacle

Hyundai and Kia have already gone public with plans to make good on the inflated fuel economy claims scandal that has rocked both companies in recent weeks. But one US senator, Jay Rockefeller (D-WV), is skeptical that the general public will see much good from the proposal, and he's looking for answers.
To recap: Hyundai/Kia have agreed to compensate owners of 900,000 affected vehicles for real versus previously claimed fuel mileage (as well as adding in a one- fifteen-percent premium), by way of pre-loaded debit cards. It has been speculated that this payout could crest $100 million by the time the Korean automakers are done writing checks.
Said Rockefeller to The Detroit News, "While I believe this is a positive step, I am concerned that many affected customers may not learn about the program or may find it burdensome to participate in the program." Rockefeller would reportedly like to see a monitoring system for the paybacks more clearly defined, with the goal being as many wronged car buyers as possible getting the recompense that they're due.