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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.

Amazon Prime will now bring you a Hyundai, but you can't keep it

We already rely on Amazon Prime to bring us necessities like food, clothing, and five-pound Hershey bars, so why not entire cars? Hyundai is going to try that, although only to quickly bring you a car to test-drive. There's no one-click ordering for Elantras yet. The program, called "Prime Now. Drive Now", is an extension of the Prime Now fast delivery service that brings certain items to people in select areas in under two hours. It's available this weekend and next, only to people in Los Angeles and Orange County. Prime members can hop online and schedule a time between 9 am and 7 pm, Saturday or Sunday, and designate a preferred location for the test drive. After that, a "trained expert" will be sent with a 2017 Hyundai Elantra for the potential customer to try out for 45 to 60 minutes. If after that they want to purchase an Elantra, the expert can then direct them to a local Hyundai dealer to complete the transaction. This is an interesting approach to reaching consumers and could have benefits for them. People who are too busy to visit a dealer for a test drive can schedule a more convenient time and place to try the car. For people who get stressed out with the dealer experience and the pressure to purchase a car (which is, like, everyone) this could also be a more comfortable way to look at one. It's also a clever way for Hyundai to sort of circumvent its dealers while still letting them handle the final sale, a sort of indirect direct-sales solution. On the flip side, this program means consumers may only try the car that arrives at their door, and there's a decent chance that it will be a high trim with options and features that they might not want or be able to afford. It might still require some shopping around at the dealer to see what the different trim levels and options are like. Though only a limited trial for now, it will be interesting to see if Hyundai continues the program, and having more test-drive options can't hurt. Related Video: Featured Gallery 2017 Hyundai Elantra View 51 Photos Image Credit: Hyundai Hyundai Car Buying Sedan Amazon amazon prime

Kia Soul EV starts production next month amidst modest sales projections

The hamsters in those Kia Soul commercials? Looks like they'll be riding real quiet and quite clean a little sooner than we thought. Kia is now saying it will start production of the 2015 Soul EV next month, and sales will start later this year in the company's home country of South Korea. Additionally, according to Reuters, Kia is keeping sales expectations low, suggesting it should sell about 5,000 Soul EVs a year at a price of around $39,000, though the out-of-pocket costs should be cut in half because of South Korean government subsidies. Kia's taking a somewhat conservative approach to its early sales target as it focuses largely on the US and Europe during its first phase, said Kia spokesman Michael Choo. "We are currently conducting launch feasibility studies for the secondary phase of Soul EV introduction and plan to expand sales to other countries at a later stage," he said. "Hence, we believe the sales volume of the Soul EV will steadily grow following our initial full year of sales." As for the US, Kia spokesman James Hope tells AutoblogGreen that while the company hasn't set a definitive debut date, "we are targeting Q3 of this year." Hope says Kia isn't providing Soul EV sales guidance for the US, so we'll just have to see where the EV chips fall come September or so. Reuters also notes that sister company Hyundai will start selling its own battery-electric vehicle in 2016, a timetable confirmed by Hyundai Senior Vice President Lee Ki-sang. Both Kia and Hyundai are shooting for a South Korean electric-vehicle market that they hope will expand exponentially from a total of just 713 sales last year. The front-wheel-drive Soul EV will have a 81-kilowatt electric motor, and its single-charge range will be about 120 miles. The model was first shown off at the Chicago Auto Show last month, but Autoblog scored an early prototype test drive ahead of the reveal – check out our feature drive report here. Kia Motors shows Soul EV and next-generation hybrid powertrain at Geneva Show (SEOUL) March 4, 2014 -- The new Kia Soul EV made its European debut at the 84th Salon International de l'Automobile in Geneva, Switzerland, today alongside a special technology exhibit of the brand's next-generation hybrid powertrain.