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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.

2021 Kia Sorento spied racing around the Nurburgring

Last time our spy shooters caught the next-gen Kia Sorento, it was doing something strenuous and taxing (towing a BMW X5). This time the mid-size crossover is on the Nurburgring. Perhaps Kia has visions of being a Ring Taxi. We kid, but it’s always fun to see family SUVs pounding around the German racetrack. The previous Sorento we captured had a massive tent over the rear concealing the design. This tester has no such apparatus, so we can see exactly what Kia is working with. ThereÂ’s a bit of bodywork at the rear window line that juts outward strongly. Perhaps this is just trying to throw us off the trail. The general shape of the rear window and slant is the same as the current Sorento. This just looks far more pronounced due to the ducktail-like piece sticking out. As for the third rear window, itÂ’s shaped just like the slanting window in the current Sorento. These spy shots donÂ’t suggest a floating roof design for the time being. Of all the design changes coming to the Sorento, the front may be the most dramatic. ThereÂ’s plenty of camouflage hiding whatÂ’s underneath, but the design appears to be a bit more butch and tough than the gentle slopes and curves on the current Sorento. We donÂ’t think Kia is going full Telluride with the strong, squared-off appearance, but the SorentoÂ’s front fascia is definitely edging that way. This prototype itself is still looking rather unkempt — just look at those exposed “taillights” and the uneven/weird rear valance. ItÂ’s expected to be a 2021 model year vehicle, so weÂ’re likely to see more put-together Sorentos racing around later this year or early 2020.

Kia Soul getting turbocharged variant, say hamsters

Last week, we reported on the return of Kia's Soul-promoting hamster mascots. They took on "Dueling Banjos," and it was adorable and entertaining and everything we expect from our favorite spokesrodents. But that same spot also hinted at something strange on the end slide – a Soul Turbo, coming this winter. One Autoblog staffer said I must have been so overcome by the return of my favorite spokeshamsters that I missed the end slide the first time around, and that might be true. Instead of debating that, let's focus on just what Kia revealed here. The company has long hinted that a higher-performance Soul was in the works, embodied by the Track'ster and Trail'ster concepts from 2012 and 2015. Both cars used a version of Hyundai/Kia's 1.6-liter, turbocharged four-cylinder, tuned to 250 hp in the Track'ster and 185 hp in the Trail'ster, which had the added bonus of a hybrid assist. Both added all-wheel-drive systems to the front-drive Soul package. A production Soul Turbo will likely fall between the hot-hatchback-like Track'ster and the off-road-focused Trail'ster. Expect Kia to pluck the corporate 1.6-liter turbo four for duty, with anywhere from 175 to 201 hp – we can hope for more, but that power spread covers Hyundai/Kia's current production trims for this engine. All-wheel drive seems like a given, based on Hyundai's approach to the Tucson, Kia's past few concepts, and the Soul's positioning as a sub-compact CUV. We've reached out to Kia for confirmation that the Soul Turbo is coming. As soon as we hear back, we'll update this post. And if you need a refresher on the video, we've embedded it below. The text in question pops up at 1:46. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.