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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.

2018 Kia Stinger GT Long-Term Update | Shake, rattle and roll

I look forward to the Detroit Auto Show almost every year. I moved out west, so traveling back for the show offers me a chance to visit the place I grew up, to see what some automakers are bringing to the roads in the upcoming year and to drive some of the long-termers that call our Birmingham office home. This year, that meant our sporty fastback, the Kia Stinger GT. As a senior video producer, I don't pack lightly. There's tons of photo and video equipment to haul around in addition to my luggage. Although the Stinger's hatchback cargo area has plenty of space, I still needed the back seat, which isn't as spacious as I expected for such a large car. Confirming that, when I offered to drive my family around, they took one look at the back seat and instead chose to sit in the third row of their Buick. Our Stinger is also shockingly red. The exterior is a gorgeous shade named HiChroma Red, but the interior's Nappa leather is red, too. This is a bit much for me and apparently I'm not alone since this combo is no longer available for 2019. After getting over the color, though, I found the interior to be quite comfortable. Both the front seats and steering wheel are heated, which is a blessing in frigid January Michigan weather. My only gripe is that, even on freshly paved Michigan roads, the rear window tends to rattle. Speaking of unwanted noises, after only 10,000 miles, the Stinger has a creak in the front passenger side door that can only be described as painful. I had been warned ahead of time by Associate Editor Reese Counts, but I was still taken aback by how bad it is. Expect an update on a potential remedy to that soon. The roads in western Michigan look nothing like those on the state's east side, with twisty, modestly hilly roads in favor of the flat, grid-like structures typical of Metro Detroit and other eastern cities. This made driving the Stinger a real treat. Its 365 horsepower and 376 pound-feet of torque is refreshing, and the eight-speed automatic disappears into the background, almost unnoticeable, which is the way I prefer automatic transmissions to perform. The Stinger's 3.3-liter twin-turbo V6 sounds quite good, too. Starting it up every morning put a smile on my face. A price of $46,620 may seem like a lot to pay for a Kia, but the Stinger feels worth it. That said, the MSRP isn't the only high cost associated with this car.

BMW, Hyundai score big in JD Power's first Tech Experience Index

While automakers are quick to brag about winning a JD Power Initial Quality Study award, the reality, as we've pointed out before, is that these ratings are somewhat misleading, since IQS doesn't necessarily distinguish genuine quality issues. JD Power's new Tech Experience Index aims to solve that problem. The new metric takes the same 90-day approach as IQS but focuses exclusively on technology – collision protection, comfort and convenience, driving assistance, entertainment and connectivity, navigation, and smartphone mirroring. It splits the industry up into just seven segments, based loosely on size, which is why the Chevrolet Camaro is in the same division (mid-size) as Kia Sorento and the Mercedes-Benz GLE-Class is in the same segment as the Hyundai Genesis (mid-size premium). It makes for some screwy bedfellows, to be sure. Still, splitting tech experience away from initial quality should allow customers to make more informed and intelligent decisions when buying new vehicles. In the inaugural study, respondents listed BMW and Hyundai as the big winners, with two segment awards – the 2 Series for small premium and the 4 Series for compact premium, and the Genesis for mid-size premium and Tucson for small segment. The Chevrolet Camaro (midsize), Kia Forte (compact), and Nissan Maxima (large) scored individual wins. Ford also had a surprising hit with the Lincoln MKC, which ranked third in the compact premium segment behind the 4 Series and Lexus IS. This is a coup for the Blue Oval, whose woeful MyFord Touch systems made the brand a victim of the IQS' flaws in the early 2010s. But Ford and other automakers might not want to celebrate just yet. According to JD Power, there's still a lot of room for improvement – navigation systems were the lowest-rated piece of tech in the study. Instead, customers repeatedly saluted collision-avoidance and safety systems, giving the category the best marks of the study and listing blind-spot monitoring and backup cameras as two must-have features – 96 percent of respondents said they wanted those two systems in their next vehicle. But this isn't really a surprise. Implementation of safety systems from brand to brand is similar, and they don't require any input from users, unlike navigation and infotainment systems which are frustratingly deep.