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Kia Australia confirms a pickup truck is in the works

Reports continue to indicate that there will be a Hyundai pickup truck, but this bit of news is about the potential of a Kia pickup. After all, if Hyundai does it, why can’t its corporate cousin Kia get a slice of the pie, too? WeÂ’ve heard rumors of a Kia truck before, but this report is much more definitive about the projectÂ’s existence. Damien Meredith, the Chief Operating Officer of Kia Australia told CarsGuide that the Kia pickup is a go. “Work has begun,” Meredith says. “WeÂ’re talking about a dual-cab, a single cab. What weÂ’ve requested is the full gambit (sic) for the ute, and that (includes) a dual cab with diesel and petrol.” Of course, this is Kia Australia talking. ThereÂ’s no one suggesting that any Australia-specific Kia truck would make it to the United States, but itÂ’s intriguing to know the designers and engineers are on the job. We didnÂ’t previously know that there would be a Kia pickup, but now Meredith is saying it will likely be arriving around 2022 or 2023. The latest on HyundaiÂ’s pickup is that itÂ’ll be launching in 2020, but Hyundai hasnÂ’t confirmed anything yet. Meredith also touted that the Kia pickup wouldnÂ’t be a “lifestyle vehicle,” but more of a serious pickup truck. Would Kia actually make a body-on-frame pickup to compete against trucks like the Ford Ranger or Toyota Hilux in other markets? ThatÂ’s certainly nothing like what we think the Hyundai Santa Cruz pickup is going to be like. That's expected to be a unibody pickup, similar to the Honda Ridgeline in stature and drivability. The more we read into this, the more this pickup is looking like a body-on-frame utility vehicle for markets outside the United States. Kia could sell the truck in Asia, Australia and other markets where the international version of the Ranger and Hilux are offered. Will it ever see the U.S. market if this is the case? Probably not. Although the Ranger ended up here, it did so after substantial re-engineering. The Hilux and other trucks like the VW Amarok remain for other countries only. We'd expect the Kia truck as described by Meredith to be so as well. 

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.

Hyundai Q1 profit triples, as it adjusts production due to chip shortage

  SEOUL — Hyundai Motor Co posted a first-quarter profit that nearly tripled to its highest in four years as people bought its luxury cars, but warned it would have to adjust production again in May because of a chip shortage. Unlike its rivals, the South Korean automaker staved off production halts in the first quarter, thanks to a healthy chip inventory. But the shortage, exacerbated by factors including a fire at a chip factory in Japan and storms in Texas, is now catching up with Hyundai. Hyundai, which has lagged its rivals in the electric vehicle (EV) race, also said on Thursday that it was developing solid-state batteries and planned to mass produce EVs using solid state batteries in 2030. In February, Hyundai launched its Ioniq 5 electric midsize crossover, the first in a planned family of EVs that it hopes will propel it into the third rank of global EV makers by 2025. Hyundai Motor and Kia together aim to sell 1 million EVs in 2025. In the quarter ended March 31, Hyundai was unscathed as people at home and the United States snapped up its high-margin sports-utility vehicles and premium Genesis cars as the coronavirus pandemic dragged on, fueling car ownership. Net profit surged 187% to 1.3 trillion won ($1.16 billion) from 463 billion a year earlier, when business slumped as countries shut down to limit the spread of the coronavirus. This was in line with an average Refinitiv SmartEstimate. Revenue rose 8.2% to 27.4 trillion won. Hyundai is expected to report net profit of 1.4 trillion won for the April-June period, up 536% from the corresponding period a year earlier, Refinitiv SmartEstimate showed. Hyundai affiliate Kia Corp reported operating profit of 1.1 trillion won for January-March, up 142% on the year. Hyundai, which together with Kia is among the world's top 10 automakers by sales, has temporarily paused production three times since the beginning of this month and saved chips for its most popular models. "The condition of semiconductor parts is being a little more prolonged than we expected," said Seo Gang-hyun, an executive vice president at Hyundai. "As the semiconductor procurement condition is rapidly changing, it's difficult to predict production status after May.