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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.

Is your new-car warranty good at the race track?

We've all heard the horror stories. Your buddy knows a girl that was dating a guy whose best friend's brother once broke his brand-new, recently purchased performance car while making runs at a drag strip or laps at a track day, and the manufacturer wouldn't cover the repair under warranty. True story? Urban legend? Complete crap? Yes, no, maybe. One thing's for sure: Automotive warranties have always come with caveats. In 1908, an ad in the Trenton Evening Times clearly stated: "All Ford Cars Guaranteed for One Year." Although it changed over time, by 1925 the Ford New Car Guarantee only covered 90 days on material and 30 days on labor, and it clearly stated that that there was "No guarantee whatever on Fan Belts, Glass, Bulbs, Wiring, Transmission, Bands, Hose Connections, Commutator Shells, Rollers, Spark Plugs or Gaskets." Whether or not Ol' Henry would pay to fix your Model T if you broke it shaving a tenth off your lap time at the local board track seems to be lost to history. We're guessing no. But what about today? Do new-car warranties in 2017 cover cars when they are driven on race tracks? We researched the warranties of 14 auto brands to find out, and the answer is yes, no, maybe, depending on the brand, in some cases the model, and whether or not your car is modified from stock. Acura has been out of the high-performance car game for a number of years, but jumps back into the party in 2017 with its hybrid-powered $173,000 NSX supercar. And Acura's warranty, as well as Honda's, clearly states that it does not cover "the use of the vehicle in competition or racing events." View 33 Photos So we asked Sage Marie, Senior Manager of Public Relations for Honda and Acura. "If the car is stock, the warranty covers it on a track just as it does on the street. No question," he told us. "However, if the car is modified, say with slick tires or other components that would put higher stresses on the vehicle's parts and systems, then we would have to investigate the circumstances further." Marie went on to say the same would be true for any Acura model or Honda vehicle, including the new 2017 Honda Civic Si. This became a common theme. Chevrolet actually started this practice with the fifth-generation Camaro on the high-performance ZL1 and Z/28 models.

2020 Kia Telluride is an American-made SUV, for America

Given consumers' ravenous appetite for them, it's little surprise that Kia is introducing a larger, more upmarket SUV in the Telluride as the newest entry in its lineup. But the automaker turned to classic SUVs of yesteryear as influences for the intentionally boxy and very American design that it hopes will translate with consumers. Dubbed a midsize by Kia, the Telluride will slot above the entry-level, compact Sorento as the flagship of the Korean automaker's utility-vehicle lineup. Michael Cole, Kia's North America chief operating officer, said the midsize segment is forecast to grow from 1.6 million units sold in the U.S. in 2018 to 1.8 million in five years. "This was somewhere we needed to be," he said. It's also the first Kia designed specifically for the U.S. market, with its off-road features like on-demand electronic all-wheel drive transferring torque between the front and rear wheels and its strong, stiff body, further emphasized by its unveiling in Detroit on a landscaped "torque track" assembled in surplus space on the Cobo show floor. It'll also be built at Kia's plant in West Point, Ga. "It's very much a U.S.-targeted vehicle," Cole said. "We will have some export. But the message is, made in America, made for America, it's a U.S.-centric car." Designers at Kia's design center in Irvine, Calif. "wanted to get back to a traditional SUV styling," Chief Designer Tom Kearns said. "So many EVs and SUVs these days are trying to look sporty and more car-like, more sedan-like. We didn't want to go with that approach." Kearns said his design team members referenced old-school SUVs like the Ford Bronco, old Land Rovers and the original Chevrolet Blazer when creating the Telluride, Kia's largest SUV yet. "It's not retro, but we like the genuine feel and look, the purity of old-school SUVs with the long hoods, little bit more upright windshield, not a lot of glass angles, tumblehome a little more upright, just feels more purposeful and genuine to us," he said. "Our goal is very clean, very simple, not a lot of ornamentation, just a pure, nice form that's hopefully conveying a clean, functional appearance." Inside, the designers took largely the same approach, with a clean console that emphasizes horizontality and width, matte-finished wood and simulated brushed metal accents and big grab handles flanking the shifter that emphasize the vehicle's sense of adventure.