2006 Kia Sorento on 2040-cars

Auto blog

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.

Genesis bringing an EV concept and G90 to New York Auto Show

It's official, the entire Hyundai Group has plans for the New York Auto Show. During the Hyundai Sonata press launch in South Korea, design head Luc Donckerwolke told Roadshow "You'll have an electric show car for Genesis." This year will be the charm for Genesis and EVs, after showing the GV80 SUV concept and its hydrogen fuel cell powertrain in 2017, and the electric Essentia coupe concept last year. We will also see the production version of the U.S. market Genesis G90 and its mongo grille. The premium brand's debuts will join the new Sonata sedan and Venue crossover, and an as-yet-unnamed Kia show car expected to be our version of the SP Signature concept potentially called Tusker. Hyundai-Kia isn't getting its electric razzle dazzle ready for New York alone. Auto Express reports the group is working on a new electric car platform to serve the carmaker the same way Volkswagen's MEB architecture serves the German group's brands. At the moment, the only four EVs in the South Korean automaker's range are the Hyundai Kona and Ioniq, and the Kia e-Niro and Soul. They are all built on ICE platforms, the Kona and e-Niro still proving popular enough for this year's planned UK-market production to sell out already. According to a "company insider," the dedicated EV platform is around two years away and will focus on B- and C-segment cars. That's the same year that Genesis is expected to have its EV ready, but unless the luxury arm has plans to dip its grille into C-segment waters, Genesis likely has other EV platform plans. By 2025, Hyundai and Kia have said they'll have 14 EVs in the combined lineup as part of 38 electrified offerings. Whatever's on the way could prove far more radical than today's offerings. Donckerwolke told Auto Express that in order to attract the future EV buyers that aren't necessarily car people, "[You] have to ask whether you want science fiction or whether you want to conform. We can create something that doesn't appeal to someone in the traditional sense." If the head designer gets his way, 3D-printing will help whip up those attractions. Last year's Essentia concept showed off 3D-printed carbon fiber ornament, but the potential goes much further.

Kia Telluride could head into luxury territory with flagship trim

Kia will expand the Telluride lineup with a range-topping trim level that will catapult the SUV into luxury-car territory, according to a recent report. The variant will arrive as one of the firm's most expensive models. Without citing sources, website AutoSpies wrote the yet-unnamed flagship Telluride will stand out from less expensive models with a two-tone paint job split below the roof line and additional interior colors, among other posh tweaks. And, somewhat surprisingly, Kia will allegedly offer buyers an off-road package that will bundle skid plates, beefier tires, and a bull bar. The off-roader described by the publication sounds a lot like the concepts Kia brought to SEMA 2018, and it could surf the ruggedization wave sweeping across the industry. There's no word yet on whether the deluxe treatment will continue in the engine bay. As of writing, the Telluride is only offered with a 3.8-liter V6 rated at 291 horsepower and 262 pound-feet of torque. An eight-speed automatic transmission and front-wheel drive come standard, and all-wheel drive is offered at an extra cost. Kia hasn't commented on the rumor, and it hasn't announced plans to expand the Telluride's trim hierarchy. If it's accurate, the flagship version could make its debut in 2020 and arrive in showrooms during the 2021 model year. Its upmarket ambitious would push its base price toward the $50,000 mark, about $20,000 more than the entry-level model and a $10,000 premium compared to the SX currently positioned at the top of the line. While the idea of paying $50,000 for a Kia will certainly startle more than a few buyers, it's not as far-fetched as it sounds. The Stinger is already there, the most expensive GT2 trim is pegged right at that price point, so the South Korean firm has already proved it has the credibility to compete in this space. The Telluride lends itself well to an extra dose of opulence, especially considering demand for luxury SUVs continues to grow in America.