2007 Kia Rio Lx 80 Mile on 2040-cars

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Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.

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.

Kia Provo Concept is a Mini-sized hatch debuting in Geneva

The machine you see above is, according to a report from Autocar, the Kia Provo Concept, and it's set to debut at the rapidly approaching Geneva Motor Show. As you can see, the Korean concept draws inspiration from young and hip hatchbacks like the Mini range and the Citroën DS3.
We can't say how much of the Provo's somewhat radical conceptual design will make it into production, such as the contrasting roof color, oversize wheel arches filled with some pretty radical wheels, and one-piece headlight and taillight housings. Suffice it to say, though, we're definitely intrigued by what we see.
Also note the diamond stitching in the interior with chrome, suede and carbon fiber accents. The flat-bottom steering wheel is also rather interesting. These details, along with the racy elements of the exterior design, make us think Kia may be targeting performance-minded buyers with the Provo.