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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.

Driving the Kia K5 and Mini Cooper JCW GP, plus an interview with Jimmy Chin | Autoblog Podcast #637

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and News Editor Joel Stocksdale. They veer off right away into talking about their dream project garages. Next up is news, including some info on the next Nissan Z car, the Honda Fit being discontinued in the U.S., new Mercedes-Benz EQS details, and some talk about the new, electric GMC Hummer being adapted for the military. Then they talk about driving the new Kia K5 sedan and the Mini Cooper JCW GP, before they opine about the 1966 Pontiac GTO. Autoblog Senior Producer Chris McGraw interviews Oscar-winning filmmaker Jimmy Chin about his collaboration with Ford for the Bronco reveal, and more. Finally, our editors help a listener in the U.K. pick a used vehicle in the "Spend My Money" segment. Autoblog Podcast #637 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 Some thoughts on project cars News Nissan suggests the next-generation Z won't be electrified at launch Fit Is Gone! Honda drops subcompact hatch in U.S. Mercedes-Benz announces the electric EQS will offer over 435 miles of range GMC's electric Hummer could someday serve alongside the Humvee in the U.S. Army Driving the 2021 Kia K5 Driving the 2020 Mini Cooper JCW GP 1966 Pontiac GTO: Love it or hate it? We talk Ford Bronco and other adventures with Oscar-winning filmmaker Jimmy Chin Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2020 Kia Soul gets fuel economy ratings boost

Federal fuel-economy ratings are out for the all-new 2020 Kia Soul and show that the switch to the 2.0-liter four-cylinder engine also found in the Forte sedan has turned the boxy compact crossover into more of a fuel-sipper compared to its predecessor. When operated in Eco driving mode, the EPA rates the Soul fitted with the 2.0-liter engine at 35 miles per gallon on the freeway and 29 mpg in the city for a combined 31 mpg. Otherwise, the same model is rated at 27 mpg in the city, 33 on the highway and a combined 30 mpg. Versions fitted with the 1.6-liter turbocharged seven-speed top out at 27/32/29 mpg, while the 2.0-liter offered with a six-speed manual delivers 25/31/27 mpg. The outgoing Soul fitted with the 1.6-liter engine maxed out at 28 mpg combined, while the more powerful outgoing 2.0-liter version was rated at 27 mpg combined. The ratings for the 2020 Soul easily outperform the 2019 Jeep Renegade, another compact crossover, which is rated 22/30/25 mpg in its top configuration, but are short of the 2019 Nissan Kicks, which gets 31/36/33 mpg. Kia is pairing the 2.0-liter engine with its Intelligent Variable Transmission, its version of a CVT, for the 2020 Soul as well as the six-speed manual. It offers 147 horsepower and 132 pound-feet of torque. The turbocharged 1.6-liter twin-scroll four-cylinder mates with a seven-speed dual-clutch automatic transmission and offers 201 hp and 195 lb-ft of torque. The standard version of the 1.6-liter makes 130 hp and 118 lb-ft. Still to come, and not yet rated, is the Soul EV, which borrows its electric motor and 64 kWh battery pack from the Niro EV and Hyundai Kona Electric, offering 201 hp and 291 lb-ft of thrust. It's expected to have a driving range of more than 200 miles, accommodate DC fast charging and go on sale sometime later this year. We still don't have pricing for the gas-powered versions, which are set to hit showrooms in the first half of this year.