2013 Kia Lx on 2040-cars

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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.

Supermodel Adriana Lima kicks off World Cup fever with Kia

Americans, it has been said time and time again, will never embrace soccer. Not when we have so many other sports (like baseball, basketball, hockey and American football) to watch, cheer on and follow. But if anyone can change minds, surely it's Adriana Lima. The Latin American supermodel - best known for being a Victoria's Secret Angel - is the lust-worthy centerpiece of Kia's campaign for the FIFA World Cup, taking place this year in her native Brazil.
Kia is sponsoring this year's international soccer championship, and is kicking off its campaign with two ads in which Lima does her best to convert Americans into futbol fans and players. Which seem like a losing battle to begin with, but the least believable part of it very well might be that an international supermodel like Adriana would be driving around in an Optima or Sorento and not in a Mercedes or Maserati convertible. Of course that doesn't mean we mind watching her try, and so can you in the pair of clips below.

Kia to green-light GT and Provo for production?

Kia is looking to inject a bit more performance life into its brand, and according to Auto Express, the company is looking at creating sporty models based on two of its recent concept cars, the GT four-door from the 2011 Frankfurt Motor Show (shown above) and the Provo hybrid hatchback that debuted in Geneva last week (inset, right).
"The GT is close to being approved and going into production, but, as with all our cars, they have to be developed on a sound financial footing," Benny Oeyen, Kia Europe's VP of marketing and product planning, told Auto Express. When it debuted, the GT four-door was powered by a turbocharged 3.3-liter V6, reportedly good for 389 horsepower and 394 pound-feet of torque, mated to an eight-speed automatic gearbox.
The Provo, on the other hand, could stand as a sort of halo car for the company's B-segment offerings. It would ride on the same front-wheel-drive platform as the Rio compact, though Kia says it's eager to keep the concept's gasoline-electric powertrain intact. "Our brand is currently rational, but there's space for a B-coupe," says Oeyen. Of course, the company would indeed have to look at different naming possibilities for its B-segment coupe, since the week-old Provo is already stirring up some controversy.