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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.

UPDATE: Kia K900 revealed, first in leaked shots, now in official photos

We have been posting sketches and teaser images of the upcoming Kia K900 sedan, but photos of the real thing are already available in South Korea. Some presentation slides of the car, wearing the name "K9" (that's what it's called over there), are now online on Kia's own website and in the photo gallery above. The restrained appearance conveyed in the sketches is present in the final car. There's still something German about it, with detail choices reflecting current BMW and Mercedes offerings: The front grille is certainly about as big as BMW 7-series' kidneys these days. The lights' LED accents are clearly visible in all photos. Fitting the car with real-life wheels definitely makes it lose something striking that the sketches had, but that is the case with all concept design sketches. The interior ambience depicted in the penned sketch has translated well to the photograph-like render: it will be interesting to see how the promised mood lighting modes will affect the interior. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earlier, screenshots of the slideshow have made it online on a Korean motoring site, as well as this "Job #1" style photo taken at a manufacturing facility. They showed March 20th as a date for the online unveiling, and the K9 microsite came online today. Kia has also published this commercial of the new car on YouTube. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Kia announced that the car will be shown officially at the New York International Auto Show, but the date on the slideshow already promises something, perhaps local, for tomorrow. Related Video: Featured Gallery 2019 Kia K900 official images Spy Photos Kia Luxury Sedan kia k900

Hyundai Motor shares slide following U.S. probe of airbag failures

SEOUL — Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why airbags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years. Hyundai has issued a recall for more than 150,000 U.S. Sonatas after incidents of non-deployment were linked to electrical overstress in the airbag control unit, but said it did not have a final fix. "What I am concerned about is that the recall will be expanded to other markets," said Ko Tae-bong, an analyst at Hi Investment & Securities. The Sonata and Forte sedans were responsible for driving sales for Hyundai and Kia in key markets in recent years, although they are no longer as popular as they once were. Ko estimated the U.S. recall could cost as much as $575 million if airbags were replaced in 425,000 vehicles under review and the automakers were found responsible for the problem. Hyundai Motor shares tumbled 4.8 percent while Kia Motors lost 3.7 percent. Parts supplier Hyundai Mobis fell 5.4 percent while the broader market was down 0.7 percent. Hyundai declined to comment on whether the recall would be expanded. Kia said it has not confirmed problems with the airbags but added it would "act promptly to conduct a safety recall, if it determines that a recall would be appropriate." The automakers told the South Korean regulator that the Sonata and Forte models sold in the domestic market were not affected, an official at South Korea's transport ministry told Reuters. The U.S. regulator said the airbag control units were built by ZF Friedrichshafen-TRW, a German auto supplier that acquired TRW Automotive in 2015, adding that it would determine if any other manufacturers used similar airbag control units and if they posed a safety risk. The NHTSA also said that electrical overstress appeared to be the root cause in the 2016 recall by Fiat Chrysler America of 1.4 million U.S. vehicles for airbag non-deployments in significant frontal crashes.