2014 Kia Sportage Lx on 2040-cars

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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Minivan Mania | Autoblog Podcast #675

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and West Coast Editor James Riswick, and this week, it's (almost) all about vans! James recently wrote a head-to-head comparison of the 2021 Toyota Sienna and 2021 Chrysler Pacifica Hybrid, and he talks us through the results. John recently reviewed the 2022 Kia Carnival, which is replacing the Kia Sedona. After discussing the minivan field as a whole, our editors identify some reasonable minivan alternatives in the SUV and crossover realms. Moving along, they talk about driving the long-term Hyundai Palisade and the new Mitsubishi Outlander before discussing their favorite highlights from the 2021 Shanghai Auto Show. Autoblog Podcast #675 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Minivans! 2021 Toyota Sienna vs 2021 Chrysler Pacifica Hybrid 2022 Kia Carnival The rest of the field Ute alternatives Cars we're driving 2022 Mitsubishi Outlander 2021 Hyundai Palisade road trip Shanghai Auto Show Lincoln Zephyr Toyota bZ4X Honda SUV e:prototype Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2018 Kia Stinger GT Long-Term Review Introduction | A brand new day

Kia has come a long, long way since it entered the U.S. market back in the mid '90s. Initially, the Korean automaker was known for affordable economy cars with questionable reliability and a distinct lack of charisma. That's no longer the case. Kia turned its reputation around, building solid if slightly sedate cars and crossovers with handsome styling and one of the best warranties in the industry. Our new long-term 2018 Kia Stinger GT is the automaker's first real attempt to inject some life into the brand. The Stinger's development was helmed by some genuine all-stars. The design was led by Peter Schreyer — the man behind the original Audi TT — and Gregory Guillaume at Kia's European design studio. Engineering was handled by former BMW M Vice President of Engineering Albert Biermann. Biermann is now leading the way at Hyundai's N division. The end result is a front-engine, rear-drive sportback tasked with putting to rest Kia's budget-car image. The automaker has made no secret about targeting models like the Audi A7 and Porsche Panamera. What we got The Stinger comes in two flavors. The base model comes with a 2.0-liter twin-scroll turbo four-cylinder producing 255 horsepower and 260 pound feet of torque. We opted for the more powerful Stinger GT and its 3.3-liter twin-turbo V6. That engine — shared with models from Genesis — makes 365 horsepower and 376 pound-feet of torque. Both engines are mated to an eight-speed automatic. While rear-wheel drive is standard, we opted for all-wheel drive ($2,200) to better deal with Michigan winters. Our car comes in Hichroma Red with a red interior. Leather is standard on every Stinger model. A base GT starts at $39,250 and comes with LED lighting, 19-inch wheels with summer tires and Brembo brakes. Our GT1 package comes in at $46,350 and adds niceties like a sunroof, a Harman Kardon audio system and a heated steering wheel. Other features include dual-zone climate control and power-adjustable front seating. We added cargo mats and a cargo tray in the rear, bringing the total to $46,620. Why we got it Kia and Hyundai are working hard to move past their budget-car roots. In general, both companies are producing vehicles that no longer have to sell on value alone. For a while, Kia's lineup consisted mostly of vehicles that were closely related to a Hyundai counterpart, with sharper styling but few points of real differentiation.