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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Hyundai to build test facility at N"urburgring

It looks as if Hyundai is set to build a test facility at the famous Nürburgring. Carscoop reports the Korean automaker has commenced construction on a 10,000-square-foot test center with access to the lengthy German track. Hyundai says the $7.3 million facility will help the company focus on improving the ride and handling of its vehicles through extensive research and development.
Sounds like a plan to us. While we've seen Hyundai vehicles improve on many fronts over the past few years, the company continues to struggle with suspension refinement compared to its Japanese, German and domestic rivals.
Automakers routinely flock to the Nürburgring for testing and development thanks to the track's unusual attributes. With a variety of surfaces, banking, turns, elevation and even weather, the circuit offers engineers the ability to put a vehicle through its paces in a wider range of conditions than most facilities.

Hyundai Mingtu revealed on billboard ahead of Shanghai

The so-called Hyundai Mini-Sonata now has a proper name. Called the Mingtu in China, this new sedan will slot in between the compact Elantra and midsize Sonata, and it sports a pretty nifty look.
We've known for a while now that Hyundai is working on a more mature version of its Fluidic styling language, the first fruits of which showed up in the latest Santa Fe, and the Mingtu seems to take that refined appearance to the next level with a refined look of creased lines, a chiseled fascia and a smooth greenhouse.
There's no indication that this car will be offered in the US market, but it's certainly possible that some of its styling elements will carry over to the next Elantra or Sonata. In any case, expect a range of 1.8- and 2.0-liter four-cylinder engines to be announced for the Chinese market when the Mingtu makes its official debut at the Shanghai Motor Show this weekend.