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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.

Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.

2014 Kia Cadenza goes on sale this month priced from $35,100*

Kia's sedan lineup is about to get much more luxurious with the addition of the new Cadenza and range-topping Quoris models, but the Amanti-replacing 2014 Cadenza will be the first to hit dealers this month with a starting price of $35,100 (*not including $800 for destination). For those keeping record, that's more expensive than Hyundai's version of this car, the Azera, and about $1,000 more than the Genesis, but it sounds like the new front-wheel-drive Kia will be getting a few more advanced features than its Hyundai counterpart.
In base form, the Cadenza comes standard with leather seating, navigation and a premium Infinity 12-speaker audio system, and the $3,000 Luxury Package adds nappa leather seats with a ventilated driver's seat, a seven-inch thin-film transistor (TFT) display, heated rear seats, power tilt and telescoping steering column, adaptive HID headlights and a panoramic sunroof. On models already equipped with the Luxury Package, buyers can also add on the Technology Package, which includes adaptive cruise control, blind spot detection, lane departure warning and hydrophobic glass on the front doors - previously, Kia stated that the Cadenza would be getting this water-repelling technology on the windshield, but this press release specifies that it will be applied to the front side windows. And if these two packages aren't enough luxury for you, Kia's cherry on top is a no-cost White Package that adds white nappa leather seats, woodgrain trim and a premium headliner.
All in, the 2014 Cadenza will run $41,100 with every option box checked, so we can only imagine how much the Qurois is going to cost when it makes its debut. Scroll down for the press release detailing the pricing for the new Cadenza.