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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.

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.

Hyundai and Kia to update EV brake lights; our tests show how they currently may not come on

Update: This article has been updated to reflect Kia's own service campaign announcement.  Hyundai will be launching a "field service campaign to update the EV brake light logic" on its Ioniq 5 as well as the Genesis GV60, Electrified GV70 and Electrified GV80. According to Hyundai's director of communications, Michael Stewart, the change will be make to new production vehicles and as part of free-of-charge service campaign that will launch in July for approximately 56,000 vehicles already on the road.  "Regardless of the accelerator pedal input, the brake lights will now turn on when the deceleration rate exceeds approximately 0.13 G," Stewart wrote in an e-mail to Autoblog. Since this article was originally published, Kia has announced it will be performing the same update to its EV6 and Niro EV. Kia is also part of the Hyundai Group. This change would seem to be in keeping with the behavior we have experienced in the Hyundai Ioniq 6, the firm's most recently introduced EV. We go into that behavior lower in this article.  This announcement comes in the wake of owner complaints as well as a test by Consumer Reports that found that most Hyundai, Genesis and Kia electric vehicles can come to a stop without their brake lights illuminating. This occurred when using those vehicles' most aggressive "i-Pedal" function that allows for so-called "one-pedal driving" where the driver can mostly rely upon the car's regenerative braking system (which is used to replenish the battery pack) to stop the car.  We tested this for ourselves this week as we are currently testing a Genesis Electrified GV70, and I personally own a 2023 Kia Niro EV Wave. I almost exclusively drive in i-Pedal mode. News Editor Joel Stocksdale tested the Hyundai Ioniq 6 in Michigan, and again, we will address his findings after the Genesis and Kia as they are completely different. I attached an action camera to the rear of each car and conducted the same test in both: Accelerate to 40 mph and come to a stop without touching the brake and, crucially, without lifting my foot fully off the throttle. The result as you can see below with the Niro is that the brake lights do not come on until around 3 mph when I fully lifted off the throttle and bring the car to a full stop. I could not bring the car to a full stop without fully lifting off the throttle.