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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.

Kia Niro hybrid and PHEV refreshed with Niro EV's looks and tech for Geneva

Two years ago, Kia unveiled the Niro hybrid at the Geneva Motor Show. This year, Kia will bring updated versions of the Niro hybrid and PHEV to Geneva, putting the battery electric crossovers under the influence of the Niro EV. The powertrains don't change, but the looks do. New projector headlights adopt what Kia calls its "ice cube" design above a new bumper. The DRLs turn into double arrows beneath, mimicking the single arrow DRL on the Niro EV. LED fog lights are optional. In back, new LED taillights pair with new light reflectors and rear fog lamps that sit between a silver skid plate. Two new 16-inch wheel designs will be standard fit, a new 18-inch wheel on the options sheet. The interior get a serious spruce in color and technology, especially with the optional color packs. A soft-touch coating covers the instrument panel, gloss black or satin chrome highlight the rest of the cabin. Paddle shifters for the six-speed double-clutch have been grafted onto the steering wheel. The handbrake lever gives way to an electronic parking brake, and there are larger rear brake discs. Depending on market, Kia will offer Red-Orange or Plum color packs. The former merely splashes hues about the cabin, as in the red contrast stitching and red-orange dash trim. Plum turns the interior fruity, adding perforated plum-colored leather to the seats, "warm purple stitching," and a plum armrest on the doors. Standard digital touches include a 4.2-inch TFT screen in the binnacle, and an eight-inch infotainment screen. The optional system installs a seven-inch TFT panel in the binnacle and a 10.25-inch TFT infotainment window. That upgraded spec will run Kia's new Uvo Connect, which uses a SIM card to retrieve and update live data. The lengthy list of driver assistance and safety features Kia's known for welcomes two optional features. The new adaptive cruise control adds a stop and go function, able to restart on its own after stopping in traffic. Lane Following Assist will follow the vehicle in front. Related Video:

Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.