2012 Kia Sorento Sx Sport Utility 4-door 3.5l V6 Bright Silver on 2040-cars

Auto blog

Center for Auto Safety wants Hyundai and Kia to recall 2.9M vehicles

DETROIT — A nonprofit auto safety group is demanding that Hyundai and Kia recall 2.9 million cars and SUVs in the U.S. due to consumer complaints that they can catch fire. The Center For Auto Safety said Friday that there have been more than 220 complaints to the U.S. government since 2010 about fires and another 200 complaints about melted wires as well as smoke and burning odors. The complaints involve the 2011 through 2014 Kia Sorento and Optima and the Hyundai Sonata and Santa Fe. Also included is the 2010 through 2015 Kia Soul. The fires are being investigated by the National Highway Traffic Safety Administration as part of a 2017 probe into Hyundai and Kia engine failures. "The volume of fires here make it appear that Hyundai and Kia are content to sit back and allow consumers and insurers to bear the brunt of poorly designed, manufactured and repaired vehicles," Jason Levine, the center's executive director, said. The fire reports have come in from across the country, including a death in Ohio in April 2017, he said. Hyundai says it monitors safety concerns and acts quickly to recall defective vehicles. "We have a robust system in place for monitoring and investigating reported vehicle fires that includes investigation and reporting to NHTSA as required. Vehicle fires can result from a variety of reasons," the company statement said. Kia said it is using company and third-party fire investigators to determine what caused the fires so it can address them. "A vehicle fire may be the result of any number of complex factors, such as a manufacturing issue, inadequate maintenance, the installation of aftermarket parts, an improper repair, arson, or some other non-vehicle source, and must be carefully evaluated by a qualified and trained investigator or technician," the company said in a statement. The Center for Auto Safety filed a petition asking NHTSA to investigate the fires in June. The agency said Friday that it is still evaluating the petition and it has sent information requests to Hyundai, Kia and other automakers about the issue. Levine says the center does not know what's causing the fires. In May 2017 the government began investigating whether the automakers moved quickly enough to recall over 1.6 million vehicles because of engines stalling. NHTSA is looking into three recalls by the related Korean brands, and it's also investigating whether the automakers followed safety reporting requirements.

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.

Kia K900 flagship to make advertising debut during Super Bowl

Kia is already solidifying its advertising plans for the 2014 Super Bowl, targeting a 30-second spot for its new, rear-drive K900 sedan during during the biggest football game of the year. The cost for this half-minute of air time? $4 million.
Of course, Kia is no stranger to advertising during the Super Bowl, with the Space Babies and Hot Bot ads of last year and the Mr. Sandman spot in 2012. But the stakes with the K900, which see the Korean brand attempting emulate its corporate cousin/bitter rival Hyundai, by moving into the rear-drive luxury space, are far, far greater. After all, Kia's previous Super Bowl ads were all for models in established segments - the K900 is an entering a realm the brand has never played in before.
The Super Bowl spot will be the first exposure to the K900 for many potential buyers, and considering that the South Korean brand is targeting conquest sales, according to the report from AdAge, it's important that it makes a good showing on such a large stage. As for the theme of the ad, there isn't much speculation from the execs this early in the game, according to AdAge. Looks like we'll be waiting until February to find out.