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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.

The Kia Stinger GT won't get a manual, but the US does get a louder exhaust

Kia revealed its new Stinger GT hatchback grand tourer tonight. Unfortunately for fans of the clutch pedal, a manual transmission won't come any time soon. Albert Biermann, Kia's head of vehicle testing and high-performance development, told us there are no plans for a manual. Instead, buyers will have to settle for an eight-speed automatic, which Kia's director of corporate communications, James Bell, said was chosen for its quick shifts coupled with low-speed refinement. Biermann did admit that he would enjoy driving a manual Stinger, if he had one. View 12 Photos If the lack of a manual transmission has diminished your enthusiasm for the stylish new Kia, perhaps this will help bolster it: Biermann told us that the US will get a market-specific exhaust, and it's louder than what Europe will get. He said that the US has less restrictive exhaust sound regulations, allowing up to 80 decibels. So even though the Stinger GT won't exercise your left foot much, your ears may be in for a treat. We certainly look forward to hearing it ourselves. Related Video:

Kia Rio officially priced at just under $15,000

The completely redesigned Kia Rio goes on sale early next month, and Kia has finally released pricing for the whole range. Based on the current destination charge of $895, the cheapest Rio will start at $14,795. That's for a base-model LX sedan. Picking a hatchback adds $300 to price of any trim level Rio. The mid-level S starts at $16,995 for the sedan, and the EX sedan starts at $19,295. View 21 Photos This pricing closely matches that of other major small-car competitors. The LX sedan actually undercuts the base prices of the Chevy Sonic, Honda Fit and Nissan Versa Note. It's also only a bit higher than Ford Fiesta and Mitsubishi Mirage. But as we mentioned in our review of the Rio, it's probably best to skip the LX trim level, even if you're a manual transmission die-hard. It lacks key convenience features such as power windows, cruise control, telescopic steering wheel, and adjustable head rests. None of these can be optioned in, either. As a result, it's best to spring for at least S trim level, which is roughly on par with Sonic, Fit and Versa Note. We find that at this trim level or higher, the Rio is a strong option. It might be a little short on space and power, but it's handsome, has a pleasant interior, and is surprisingly adept in the handling department. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2018 Kia Rio sedan View 12 Photos Image Credit: Kia Kia Car Buying Hatchback Economy Cars Sedan pricing kia rio