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Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

Next-gen Kia Soul EV spied

Our spy shooters recently caught the next-generation Kia Soul wearing camouflage and showing bits and pieces of its new design. Now, we've got spy shots of the next Kia Soul EV, and it's testing at the Nurburgring. Our shooter points out the spot on the grille for the charging port, as well as the "E" on the license plate, that point to this being the electric version of the Soul. And, of course, we don't see any tailpipes hanging off the back. Similar to the last shots we saw of the regular Soul, the EV gets new lighting front and rear. We see what looks like signature LED lighting strips below the actual headlights — and if the previous spy shots are any clue, this strip could extend across the entire nose. One other feature we notice is the sensor placed low in the front fascia, which could mean the new Soul EV will be equipped with adaptive cruise control, along with other active safety features. In back, the lighting starts high and curves inward like a big boomerang. It looks like Kia is trying very hard to keep the rear of the car under heavy garb, so we might expect there to be other major design changes back there. We can't see from photos any other clues about the electric powertrain, but there's a good chance the Soul EV will use a version of the Hyundai Kona Electric's running gear. For the U.S. the EPA just announced driving range of 258 miles in that vehicle, though other markets also get an entry-level version with a smaller battery. We're happy to see progress being made on the Soul EV, and are looking forward to some of that camo coming off. Loading up the suspension on the Nurburgring looks like a riot, and probably indicates testing of thermal management and the resulting performance (and losses thereof). Related Video:

Recharge Wrap-up: Hyundai/Kia fined $755M for exaggerated MPG ratings; BMW dealers want more i8s

The fine against Hyundai and Kia has grown to $755 million for overstating fuel economy ratings. $360 million of that fine comes from the EPA for violation of the Clean Air Act: $100 million is a civil penalty, $210 million is a forfeiture of greenhouse gas credits and another $50 million will pay for independent fuel economy audits on future models. The remaining $395 million is a settlement for customers who purchased the affected vehicles. A slew of 2011 to 2013 models were found to have fuel economy ratings overstated by one to six miles per gallon. Customers will be awarded funds to offset the unexpected fuel costs or to put toward a new Hyundai or Kia vehicle. Read more at Hybrid Cars. BMW dealers are awaiting details on new dealership standards - and BMW i8 models for their showroom floors. According to BMW National Dealer Forum Chairman Steve Late, BMW dealers are anxiously waiting to see what sort of updates they'll need to do to get in line with BMW's Future Retail 2016 program. As for the new EVs, Late says that the BMW i3 sales were slow to start, but that once people learned more about it, "wham, bam, it is taking off." The i8 shortage is a bigger problem: "I was allocated three for 2014, and I have a waiting list of 47 people. This year, maybe I will get eight or 10, and I still won't be able to fulfill them." Still, Late says he won't sell the cars at an upcharge. Read more at Automotive News. Opel is reportedly planning an electric version of its Karl hatchback. According to German automotive magazine Autobild, Opel will begin selling the diminutive Karl EV by the end of 2018. The electric car will offer a driving range of about 93 miles. The gasoline-powered version is expected to begin deliveries this June. Read more at Automotive News Europe. PSA Peugeot Citroen says it will keep its Hybrid Air program alive as it looks for a cost-sharing partner. Hybrid Air technology uses a compressed air hybrid system to improve fuel economy as we saw in the Peugeot 208 Hybrid Air concept. A French newspaper reported that Hybrid Air won't make it to commercialization, and that the program's team of engineers has been reduced. A PSA spokesperson confirms the change to the program, saying, "We are now waiting for another partner to help us begin the production stage." Read more at Automotive News Europe. Related Video: