2010 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.

Honda, Hyundai and Kia get best word-of-mouth recommendations in US

Forget advertising, incentives and, yes, even our excellently crafted vehicle reviews, sometimes the best way for automakers to sell cars is still good ol' fashioned word of mouth. In an attempt to measure this "word of mouth" power, The Boston Consulting Group, a management consulting firm, has created a new study called the Brand Advocacy Index (BAI). The index takes a look at how various industries perform from person to person. Those industries include automotive, smartphones, grocery, mobile telecommunications and banking.
The study polled more than 32,000 individuals across Europe and in the US to come up with the top 55 brands in these various industries. On the automotive side of things, the top brands in the US were Honda, Hyundai and Kia, all tied at 63 percent. On a global scale, Volkswagen and Toyota scored the highest with a 65-percent BAI rating (both in France). The average BAI for auto industry players tallied 50 percent.
As for companies in other industries, Apple's iPhone was the index's top-rated smartphone, Trader Joe's was the highest recommended grocery store, Virgin was sat atop the mobile telecom industry and USAA was the top retail bank. Scroll down for the full press release on the new study.

2021 Kia Sedona's new look revealed as Korean-market Carnival

Last week, Kia showed teaser sketches of the next-generation Carnival, which we'll get as the 2021 Kia Sedona. Now the company has released actual photos of the minivan with the Carnival nameplate. No other information about powertrains or features have been announced, but there's plenty in the design to take a look at. Overall, the Sedona has a boxy, upright design seemingly more inspired by crossovers than traditional minivans. The low ride height and tall body do give it away as a van, though. Other crossover design cues include the faux skid plate panels on the front and rear bumpers. Look closer, and you find some really fascinating details across the van. At the front, you find an intricate variation on the Kia "Tiger Nose" grille with intersecting chrome diamonds. You'll also find that the LED running lights run out from the headlights and down the lower section of the grille surround. Hidden just inside the grille are the high beams for the headlights, and the lights each have chrome eyebrows. Along the side, a strong shoulder line blends into the door sliders, and the C-pillar is the most prominent of any modern Kia. It has a sort of chrome or aluminum finish with a light diamond cross-hatched pattern molded into it. At the back, there's a full-width taillight housing with LED elements. In the middle section, there are little chrome highlights just behind the red plastic adding another fine detail to admire. As previously mentioned, Kia only revealed photos of the new van, and no information on what's powering it or what other features it will have. It could continue using the 276-horsepower 3.3-liter V6 in the current Sedona, or it could upgrade to the 291-horsepower 3.8-liter V6 from the Telluride. There's also the possibility of using a turbocharged four-cylinder or possibly both a four-cylinder and a V6 depending on trim levels. We should know more closer to the on-sale date. It goes on sale first in South Korea at the end of the year's third quarter and other markets some time after. Related Video: