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Kia reveals images of updated ’Mohave the Master’ SUV

Kia on Wednesday released the first images of a heavily refreshed full-size SUV, calling it the “Mohave the Master.” ItÂ’s heavily based on the Mohave Masterpiece Concept that Kia rolled out at the Seoul Motor Show in March, and reports suggest the company plans to launch the SUV in Korea in September. The Mohave is the overseas brethren of the short-lived Borrego, a body-on-frame, offroad-capable SUV that was sold in the U.S. and pulled after two model years and negligible sales. As was the case in March, thereÂ’s no information about the new vehicle beyond photos, leaving us to speculate. But the Master carries on most of the Masterpiece ConceptÂ’s styling, if somewhat toned down, with its boxy design, raised profile and upright body. The Master features the same matching head- and taillight design as the concept, plus the illuminated Mohave nameplate on the tailgate. The stacked LED headlights and fog lamps also carry over from the concept, although much of the chrome trim appears to have been cut from production plans. Also similar: ThereÂ’s no Kia badge anywhere to be seen, which is interesting. Skid plates at front and rear, along with the 4WD logo on the tailgate, add to the suggestions that this SUV is capable of being taken offroad. Kia eventually replaced the Borrego in the U.S. with the Sorento family hauler, but it lived on in Korea and other markets. The Borrego had the misfortune of being released in 2008 as a gas-guzzling ‘ute with the Great Recession raging and gas prices hovering around $4 per gallon, pushing consumers toward smaller, more fuel-efficient options. It also won no plaudits for its looks. Our 2009 review noted, “The new Borrego breaks no new ground in terms of styling” and added that, given the unforeseen spike in gas prices at that time and its effect on SUV sales, “Kia will likely be happy if it can just eke out enough sales to break even on the project.” The new Mohave is undoubtedly more handsome and sculpted than the bland Borrego, looking like a beefier, more imposing version of the Telluride. Rumors have swirled that the Mohave will eventually return to the U.S. If that's true, weÂ’ll have to wait to see whether itÂ’s with this version or a future update.

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.

Car buyers are paying big money for technology they don't use

J.D. Power released the results of its Tech Experience Index study that measures "how much owners like [in-car] technologies and how many problems they experience with them." Among the study's findings, automakers are loading vehicles with more software and digital experiences that owners claim they never learn how to use or decide they don't need. For example, owners report to J.D. Power that gesture controls, like those used by BMW (spinning a finger, for instance, can raise or lower the audio volume), don't improve the overall ownership experience. In fact, gesture controls received the lowest overall satisfaction score in the study for a second consecutive year. In another example, the study found that 61% of owners claim never having used "in-vehicle digital market technology," while 51% of respondents said they didn't need it. Driver/passenger communication technology was another sore point with users, with 52% saying they have never used the technology, and 40% of those saying they have no need for it. (10 Features owners say they want, and 7 they really don't). Conversely, some technologies are well received by owners. For American owners, rear-view cameras and so-called "ground view" cameras were among the top three desired technologies. We assume that "ground view" is a surround-view or 360-degree camera system. The one-pedal driving possible in a number of EV's with adjustable regen braking also scored very high marks and few claimed issues.  While it could be argued that owners who don't want to use a specific piece of technology should just avoid using it, the reality is that all of these unused features add cost to the final price of any vehicle. Considering that the average transaction price of a new vehicle hit a record $45,031 in September of 2021, controlling spiraling costs is a big deal. J.D. Power's survey results found that dealerships can play a big role in explaining new technology to buyers. Scores for some technologies like trailer assistance received higher scores from owners who received training from their dealers. Unfortunately, 71% of owners say they were taught how to use tech from outside sources whereas only 30% learned from a dealer. The results of this study are the product of responses from 110,827 owners of current model-year vehicles that J.D. Power surveyed after 90 days of ownership from February through July 2021.