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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.

2020 Kia Niro electric car gets a $590 price hike

Kia Niro EV shoppers will need to budget a little more for the purchase, the South Korean automaker raising the price on its only U.S.-market electric car by $590. Cars Direct spied an order guide saying that after a $1,120 destination charge, the base Niro EX electric will climb from $39,620 to $40,210. The only other trim, the EX Premium, goes for $45,120 for the 2019 model to $45,710. The prices don't include the potential $7,500 federal tax credit or other incentives the hatchback still qualifies for. Adjustments to the EV MSRPs compare to price increases of $990 and $1,190 for the two trims of the 2020 Niro PHEV, and a mix of price drops and increases of several hundred dollars for the standard Niro's rearranged trim line.     Around this time last year, the Niro EV cost $1,500 more than the Hyundai Kona EV, now the Kia and Hyundai are separated by $1,900. The Niro EV's 64-kWh battery can power its 201-horsepower motor up to 239 miles of EPA-rated range, the Kona EV, with the same mechanical specs, is EPA-rated for up to 258 miles. Kia didn't make any changes to the 2020 Niro EV other than price. The whole Niro lineup, however, debuted its new refresh at last year's L.A. Auto Show. That brought tweaks to the front fascia such as new headlights and fog lights and a grille with diamond-shaped inserts, the electric Niro distinguished from the other two powertrains by getting a single chevron fog light instead of dual chevron lights, omitting the chrome underlining on the grille, and picking up blue accents around the lower intake. In back, there's a redesigned housing for reflector units in the bumper, and more blue highlights. Inside, a redesigned, seven-inch digital instrument cluster sits behind the steering wheel, and new optional driving aids include lane following and lane-keeping assist. Meanwhile, the wait continues for the Kia EV we really want, the fun and less expensive battery-electric Soul and its 243-mile EPA-rated range.  Related Video:      

Driving a 1964 Volkswagen Beetle, and the 2021 Kia K5 arrives | Autoblog Podcast #634

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer and News Editor Joel Stocksdale. They start with what they've been driving this week, including the 2020 GMC Sierra 1500 diesel, 2020 Volkswagen Atlas Cross Sport and a 1964 Volkswagen Beetle. They move on to the news, covering the 2021 Kia K5, Geneva Motor Show (canceled again), Maserati's new engine and a new extended reality experience here at Autoblog. Finally, the guys spend some money for a listener who just had twins. Autoblog Podcast #634 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 Cars we're driving 2020 GMC Sierra 1500 AT4 diesel 2020 Volkswagen Atlas Cross Sport 1964 Volkswagen Beetle 2021 Kia K5 Geneva Motor Show cancelled Maserati engine Extended Reality with the Mustang Mach-E Spend your money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: