2014 Hyundai Elantra Limited on 2040-cars

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Hyundai recalls 205,000 Elantras for possible power steering failure [UPDATE]

UPDATE: Autoblog reached out to Hyundai spokesperson Jim Trainor for more information about this recall. He let us know via email: "Owners will be notified beginning in the second quarter." Also, there have been "no accidents, injuries nor fatalities," as a result of this issue. Hyundai is recalling 204,768 examples of the 2008-2010 Elantra sedan and 2009-2010 Elantra Touring because of possible failure of the electrically assisted power steering. The problem in these vehicles is that the ECU for the power steering can "sense a discrepancy in the steering input signals and, as a result, disable the steering power assist," according to documents submitted to the National Highway Traffic Safety Administration. If this happens, then drivers could suddenly experience a more difficult time driving the Elantras. According to a chronology submitted to NHTSA (that you can read in full as a PDF, here), Hyundai first became aware of this problem in 2010 and issued a TSB for it in 2011. At that time, just 0.25 percent of sedans and 0.36 percent of Touring models were shown to have the fault. However by October 2014, the issue had gotten worse, and 1.3 percent of four-doors and 1.9 percent of the hatchbacks were exhibiting it. The automaker believed that by maintaining manual steering the vehicles were still within the law, but "the industry has increasingly handled similar issues through safety recalls." In most cases, turning the ignition off and then back on rectifies things, but to fix this, Hyundai is updating the power steering control unit on these models. RECALL Subject : Electric Power Steering Assist may be Disabled Report Receipt Date: FEB 23, 2015 NHTSA Campaign Number: 15V100000 Component(s): STEERING Potential Number of Units Affected: 204,768 All Products Associated with this Recall Vehicle Make Model Model Year(s) HYUNDAI ELANTRA 2008-2010 HYUNDAI ELANTRA TOURING 2009-2010 Details Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2008-2010 Elantra vehicles manufactured June 1, 2008, to April 30, 2010, and 2009-2010 Elantra Touring vehicles manufactured November 1, 2008, to April 30, 2010. The electronic power steering (EPS) electronic control unit (ECU) may sense a discrepancy in the steering input signals and, as a result, disable the steering power assist.

Salvage firm asks judge to halt rival's removal of capsized ship and its 4,200 cars

SAVANNAH, Ga. — A maritime salvage company is asking a federal judge to stop the Coast Guard and a rival firm from carrying out their plans to remove a cargo ship that overturned five months ago on the Georgia coast. The multiagency team overseeing removal of the South Korean freighter Golden Ray recently announced plans to carve the 656-foot-long ship into eight giant pieces that would be loaded onto barges using a towering crane in the waters of St. Simons Sound near tony St. Simons Island. Removal is to start soon after crews surround the wreck with a large mesh barrier to trap stray debris, expected to take about a month. The Golden Ray heeled over minutes after undocking in the Port of Brunswick on Sept. 8, 2019, and its crew of 23 was rescued. It has been shorted up with thousands of tons of rocks to prevent it from listing further, and its nearly full fuel tanks have been pumped out. A key part of the dispute involves the fate of its cargo of 4,200 cars. The salvage company Donjon-SMIT filed a complaint Thursday in U.S. District Court seeking a judge's injunction to stop any removal efforts. The company said the Coast Guard violated a 1990 federal law intended to improve oil spill responses by allowing the ship's owner to drop Donjon-SMIT as its pre-designated salvage responder. Donjon-SMIT said the ship's owner, identified in the court filing as GL NV24 Shipping Inc., had rejected its plan to remove the ship “in small sections weighing approximately 600 tons (544 metric tonnes)” so crews could systematically remove the thousands of cars still inside the ship's cargo decks. The ship is filled with new Kias and Hyundais built in Mexico, and some cars from other companies, that were bound for the Middle East. The company said the owner instead hired another firm, T&T Salvage, willing to remove the vessel in larger chunks of up to 4,100 tons (3,720 metric tonnes). The multiagency command team released some details of the plan Feb. 5, but has not said what it intends to do about the cars inside. “In short, the cars need to be safely removed to avoid environmental disaster,” Donjon-SMIT said in its legal filing. Campbell Houston, a spokesman for the multiagency command overseeing the salvage operation, had no immediate comment when reached by phone Friday. T&T Salvage did not immediately reply to an email message seeking comment.

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.