2013 Hyundai Veloster Base Hatchback 3-door 1.6l Color Vitamin C Orange Gold on 2040-cars

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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Hyundai, Kia recall 270,000 cold-weather state vehicles over rust

Hyundai has announced plans to recall 240,000 Sonata and Azera models registered in the northern United States over corrosion caused by the use of road salt. Exposure to the salt can cause rust to form (we know, basic chemistry here), and that the corrosion can change the alignment of the rear wheels, according to Reuters.
Sonatas from the 2006 to 2010 model years, built between March 1, 2005 and January 21, 2010, and Azeras from the 2006 to 2011 model years, built between September 27, 2005 and November 22, 2010, are covered only if they were registered in the following states: Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin and Washington, DC. So basically, every state from the Midwest, to the central Atlantic coast, to New England. It is unclear exactly how many Sonatas or Azeras make up the 240,000 total number.
Hyundai is also recalling 20,300 of its 2013 Santa Fe Sports, while sister company Kia is recalling 9,345 2014 Sorentos. This second recall only covers Santa Fe Sport and Sorento models with the base, 2.4-liter engine and front-wheel drive. Apparently, the front axle driveshaft can develop cracks and separate.

Hyundai, Los Angeles Times and Consumer Reports in fuel economy skirmish?

On Wednesday, Consumer Reports issued a story taking umbrage with the auto industry's move toward smaller, turbocharged engines, noting its own testing revealed that many such powerplants fail to deliver their promised fuel economy numbers. The story covered a variety of domestic and foreign automakers, with Ford and Chevrolet featuring prominently in the discussion. Hyundai was also mentioned for its Sonata Turbo, but the Korean automaker's family sedan came within one observed mile per gallon of its EPA ratings in CR's test, and its normally aspirated 2.4-liter counterpart actually beat its combined EPA ratings, 27 mpg to 26.
Good news for Hyundai, right? The automaker was so pleased with its report card that it sent out a small statement to a handful of news outlets including Autoblog, reading in part:
"We at Hyundai believe that Consumer Reports real-world average fuel economy testing results and EPA combined fuel economy results should correlate, and in fact do correlate nicely for some brands. Among all brands, Hyundai does particularly well in this correlation, with no high-volume brand having a better correlation between EPA combined and Consumer Reports real-world fuel economy."