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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.

2020 Kia Soul X-Line Review | At least it looks the part

The Kia Soul was always intended to be a city creature. When it was launched a decade ago, it was an answer to weird city cars like the Scion xB and Nissan Cube. It had funky styling, bright colors, and speakers with lights that pulsed to your music. The 2020 Kia Soul may be an evolution in terms style and size from that original version, but the market has changed to frame it in a different light. The JDM boxes are gone, succeeded by a variety of sub-compact SUVs like the Honda HR-V, Jeep Renegade and Hyundai Kona. The previous Soul competed very well with them, and the new version for 2020 does even better, offering a compelling recipe of value, space and style. It still doesn't offer all-wheel drive, but then, neither does the Nissan Kicks or Toyota C-HR. Nevertheless, all of these vehicles are supposed to be able to leave town once in a while, to perhaps get dirty (or carry things that might, like a mountain bike or kayak). That’s part of the appeal of the segment, to enable an Instagram-friendly lifestyle. ThatÂ’s why the 2020 Kia Soul X-Line was hatched. To find out how it does at satisfying its mission, I set out on a road trip from Portland into Central Oregon toward the towns of Redmond and Bend. ItÂ’s a trek made daily by countless Subaru Crosstreks, a vehicle Kia almost certainly hopes to poach some customers from. I even brought a current Crosstrek owner along for the ride. Outside, the Subaru playbook was consulted and the requisite black plastic body cladding applied to the fascias, rocker and doors. The grille has a more rugged mesh insert accented by foglights and tasteful alloy-look trim, which is also used on the rocker panels, mirror caps and roof rails that are only available from the factory on the X-Line. The halogen headlights are in the same place as they are on lower Soul trim levels, but the alloy-look trim draws more attention to them – they look a bit like big, old-school driving lights. In total, it does indeed make the Soul look like a little SUV – and an attractive one at that, especially when painted Undercover Green. Sadly, our test car was Gravity Gray. The interior, by contrast, isnÂ’t any more special than the base trim. There's handsome, textured silver plastic trim on the doors and it comes with "Black Woven Cloth" that's actually quite nice for a car that costs $21,000. There are no Jeep-like rugged details or decals.

Hyundai looking to add plant in Mexico

Mexico is rapidly becoming the go-to place for North American auto production, and companies including Toyota, General Motors, and Audi are all building new plants, expanding or shifting some production there. Now, Hyundai is investigating joining them in the future. "I'm sure that over the years we'll see production of Hyundai products in Mexico," Pedro Albarran, managing director for the automaker in Mexico, said to Bloomberg. Albarran indicates that a likely location for such a factory might be the state of Nuevo Leon, where Kia also has a forthcoming $1 billion plant. The site would be an ideal location near suppliers. It's probably going to be a while before any of Hyundai's models start coming out of Mexico. According to Bloomberg, the automaker wants to wait to make a final decision until sales there reach around 50,000 annual units, and that benchmark isn't expected until 2018. While Kia's plant is slated to have a capacity around 300,000 vehicles a year when it opens in 2016, Albarran thinks Hyundai might start smaller at just over 100,000 annual examples. Some of those would likely include subcompact models for the Mexican market. The Korean automaker was rumored to be looking into a factory south of the border as far back as 2013.