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Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

Next-gen Hyundai Equus spotted horsing around in desert

The last time we showed you the next-generation Hyundai Equus, the northern hemisphere was in the depths of winter and the big luxury sedan was testing above the Arctic Circle. Now, as we're approaching the end of summer, the South Korean company is rather fittingly conducting hot weather testing in the American southwest. As with our last look at the Equus, today's images show a heavily camouflaged car. Said camo, which includes both coverings and more form-fitting stickers, can't hide the overall size of this vehicle. It's a big'un, especially behind the B-pillar. From what we can see through the front camouflage, the Equus should draw some inspiration from the Vision G concept. In short, expect a sportier, more assertive look than what's currently offered on Hyundai's flagship. This particular car is allegedly fitted with a version of the company's Tau 5.0-liter V8, which serves in both the current Equus and the smaller Genesis sedan. It's paired with a ten-speed automatic – yes, ten forward gears... on a car – while our spies reiterated previous reports that a new turbocharged V6 would also be on offer. Importantly, this latest gallery of spy photos gives us our first look at the new Equus' cabin. Again, there's heavy camouflage here, but we can get a look at the handsome leatherwork on the two-tone steering wheel and the stylish silver hue of the HVAC buttons. It also looks like Hyundai will retain a knob-and-button-style controller for the infotainment system, which will be housed in an expansive display at the tip top of the dash. Look for the next-generation Equus to make its debut some time in 2016 as a 2017 model. Related Video:

Hyundai missing Q1 earnings targets blamed on slow US sales

Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.
According to the report, US sales fell by 3 percent in Q1 2014. To make matters worse, the high value of the South Korean currency caused lower profits on models exported from there. On the bright side, Hyundai's Chinese sales rose by 9 percent, according to Reuters. It's also working on building a fourth factory there.
The company has had a rough time in the US throughout the quarter. John Krafcik, the CEO of Hyundai of America, stepped down on January 1, and the company was already predicting slow growth in sales for 2014. Falling quality scores for the Sonata and Elantra aren't helping matters either. However, there may be hope on the way. The second-generation Genesis Sedan was introduced to the US in Detroit, and the redesigned Sonata was recently shown in New York. Successful launches of these important models could prove crucial.