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Judge reduces damages in fatal Hyundai crash to $81M

Hyundai no longer has to pay $248 million as part of a court ruling from a fatal accident in Montana that killed two cousins in a 2005 Tiburon. The judge hearing the appeal revised the amount down to a total of about $81 million. She upheld the original $8.1 million in actual damages but reduced the punitive damages to $73 million from the previous $240 million.
According to Bloomberg, the judge refused Hyundai's desire to reduce the amount even further. She said in her court order that the company showed "an indifference to or reckless disregard of the health and safety of the motoring public."
In the original case, the families' attorneys alleged that the cracking of a faulty steering knuckle caused the fatal accident. Hyundai argued that fireworks had been let off inside the vehicle, which caused the driver to swerve and crash. In a statement released after the ruling, the automaker claimed that evidence supporting its defense was barred from the trial. According to Bloomberg, had the original amount of damages been upheld, it would have been the sixth-highest amount awarded by a jury in the US this year.

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 launches Blue Link update for smartwatches

Hyundai released an update for its Blue Link app last week that makes it work through smartwatches. The app is downloaded through Google Play and works with Android Wear watches. A version that's compatible with Apple smartwatches is under development, and Hyundai expects to launch it soon after the Apple Watch launches April 24, a spokesman said. The Blue Link smartwatch app was revealed this year at the Consumer Electronics Show. Features include remote engine start and stop capabilities, remote door locking and unlocking, the ability to honk the horn and flash the lights and a function to call roadside assistance. All of the features can be done through voice commands. Hyundai's smartwatch app will work with cars equipped with first and second generations of Blue Link. The smartwatch app is a companion feature, and it needs to be paired to the owner's smartphone that has the Blue Link app. Blue Link launched on the 2012 Sonata and rolled out across Hyundai's lineup in 2013. The second-generation system is available on the 2015 Genesis, Sonata and Azera. "Blue Link subscribers and gadget lovers will appreciate a more convenient way to interact with their Hyundai vehicles," Frank Ferrara, executive vice president, customer satisfaction, Hyundai Motor America, said in a statement. HYUNDAI BLUE LINK SMARTWATCH APP AVAILABLE FOR DOWNLOAD ON GOOGLE PLAY Android Wear Can Remote Start Your Hyundai * Smartwatch App Compatible with First and Second Generation Blue Link Equipped Hyundai Models * Commands Work with Voice Recognition FOUNTAIN VALLEY, Calif., Mar. 4, 2015 – Today Hyundai owners no longer need to fish out a phone from a pocket or purse to remote start, lock or unlock their car using Blue Link(tm). They also won't need to look down at a phone to find their car in a crowded parking lot if they can't remember where they parked after a sold out sporting event or a business trip. This is because Hyundai has launched its Blue Link smartwatch companion app to help owners with these tasks. The latest Blue Link app update on Google Play now includes the smartwatch companion app for Android Wear. The Blue Link smartwatch app will be available for the Apple Watch shortly after its release. "Blue Link subscribers and gadget lovers will appreciate a more convenient way to interact with their Hyundai vehicles," said Frank Ferrara, executive vice president, customer satisfaction, Hyundai Motor America.