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Hyundai and Kia set aside $412 million for false mileage claims

We still don't know how the whole fuel economy ratings debacle is going to play out for Hyundai and Kia, but both automakers are preparing to make good on their promises to reimburse vehicle owners for lower-than-promised mileage figures. According to Automotive News, Hyundai and Kia have set aside a combined total of $412 million ($225 million for Hyundai and $187 million for Kia) as compensation, which will be sent out on a case-by-case basis via debit cards depending on the vehicle and the mileage driven.
Announced back in November, the exaggerated miles per gallon claims affect around 900,000 Kia and Hyundai products produced for the 2011 through 2013 model years sold in the US and Canada. This whole deal has had plenty of action ranging from suspected whistleblowing from a rival US automaker and even insider trading, but it has probably been most frustrating for vehicle owners who, in most cases, saw their vehicles' city and highway ratings drop between one and three digits.

Kia teases Geneva concept, is a Nissan Juke rival in the cards?

These four photos tell us most about the pomegranate-red concept Kia will be bringing to this year's 2013 Geneva Motor Show. An accompanying 66-word press release gives away nothing, so we're left to wonder if this is some kind of Nissan Juke rival that the South Korean company is toying with.
Even with the exaggerated dimensions of concept cars, this unnamed "urban concept car" looks somewhat larger than the average subcompact hatch, and there are some seriously Juke-ish lines around the rear three-quarter. This concept, however, appears to be a two-door model, unlike the Juke with its hidden rear handles, but that doesn't mean a production model couldn't add a couple of entry points.
We'll know for sure in March. You'll have to make the four high-res photos and those 66 words in the release below last until then.

2014 Cadenza is Kia's take on the Hyundai Azera

No, this is not the oh-so pleasantly named Quoris rear-wheel-drive flagship sedan - this is Kia's new front-drive entry into the North American market, the Cadenza. (If that sounds familiar, it's because Kia has long used the Cadenza name in other markets.) And while it's a sharp-looking thing, it's not exactly an original masterpiece. Peel away that slick exterior and you'll find a trusty Hyundai Azera doing the grunt work.
That's no bad thing, though; the Azera's a smooth-sailing sedan. Under the hood is a 3.3-liter direct-injection V6 putting out 293 horsepower and 255 pound-feet of torque, mated to a six-speed automatic transmission with, oh yes, Sportmatic manual mode. That power hits the ground via a sport-tuned suspension with MacPherson struts up front and a multi-link rear configuration, matched with either 18- or 19-inch alloy wheels.
Inside, there's a whole host of nice leather surrounded by wood and chrome accents, with a driver-focused cockpit (sort of like the Optima) with a seven-inch TFT color touchscreen display. Premium options include things like Nappa leather seats, a panoramic sunroof, Kia's UVO infotainment system, HID headlamps with active lighting, heated seats and a heated steering wheel. Sounds comfy.

Hyundai and Kia adding Google Maps API to nav systems

Hyundai's Blue Link and Kia's UVO infotainment systems will be adding three Google features: Send2Car, Point of Interest Search and Local Search by Voice. Send2Car lets travelers send destinations to their vehicle's navigation system from a computer or via a mobile phone app, and the POI and local searches are continuously updated in Google Places' database. The new data service integrations mean that drivers will have more access to more destinations and be able to find them more quickly.
Hyundai hasn't said when the new features will debut nor on what model. Kia buyers will find them introduced on the 2014 Kia Sorento expected to roll into dealerships shortly, with the Forte sedan following. You'll find a press release on the updates below.

IIHS says these are the safest cars of 2013

The Insurance Institute for Highway Safety (IIHS) has revealed its annual list of Top Safety Picks, an award that highlights automobiles it says offer "superior crash protection." A new and still more significant award, the Top Safety Pick+ honor, is given to those vehicles that earn good ratings for occupant protection in four out of five areas of measure. And while some 117 vehicles were given the TSP seal of approval for 2013, just 13 passed muster for TSP+.
To be fair, IIHS only evaluated 29 vehicles with its new testing procedures for TSP+ (we'd expect that the number of qualified cars will rise substantially for 2014). Luxury and Near Luxury midsize cars were the first groups evaluated, followed by midsizers in the Moderately Priced Cars category - unsurprisingly, it's only midsize cars that you'll find among the class this year.
Only two luxury sedans made the list of 13 for 2013: the Acura TL and Volvo S60. The other 11 cars on the list included entries from domestic, Japanese and German car makers: Dodge Avenger, Chrysler 200, Ford Fusion, Honda Accord (sedan and coupe), Kia Optima (but not its close kin, the Hyundai Sonata, strangely), Nissan Altima, Subaru Legacy and Outback, Suzuki Kizashi and the Volkswagen Passat all made the grade.

Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.

Kia design chief Peter Schreyer named Hyundai-Kia President

Automotive News reports Peter Schreyer has been appointed the first non-Korean president of Hyundai-Kia Motor Group. Schreyer is expected to retain his role as the chief designer for Kia, while also taking on new, high-level executive duties. He is now one of three presidents at the automaker.
The designer made a name for himself at Volkswagen, where he penned the 1998 New Beetle and lent his eye to the Audi TT. In 2006, Schreyer moved to Kia, where he quickly revised the brand's styling from bland, forgettable lines to bold, "tiger nose" creations. Analysts attribute much of the brand's recent sales success to Schreyer's influence.
Kia is expected to move 2.75 million units worldwide next year, while sister company Hyundai will likely beat its 2012 sales forecast of 4.29 million units, according to CFO Lee Won Hee.

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.

Did a US automaker blow the whistle on Hyundai, Kia fuel economy issue?

In all of the most hotly contested mainstream segments of the motoring universe, the difference of one mile per gallon averaged on a widow sticker can mean the difference between a sale and a walk-off - to say nothing of two or three mpg. So, when Hyundai and Kia were forced to reveal that many of their 40-mpg ratings were actually 38s and 37s, well, it made for big news.
It also, conceivably, made for a competitive disadvantage immediately, when the Korean automakers' products were being shopped versus the guys down the block. And it's that disadvantage that makes a recent story from Automotive News so juicy.
AN is reporting that Margo Oge, former head of the Environmental Protection Agency's Office of Transportation and Air Quality, got a tip in 2010 that Hyundai/Kia were "cheating" to get its impressive fuel economy numbers. The tip, said Oge (who retired from the EPA this past September), came from a senior vice president from a domestic automaker. The source was credible enough for Oge to launch an audit of the Hyundai figures, which ultimately lead to the debacle that we reported on a few months ago, and that the Korean company has been trying to bounce back from ever since.

Volkswagen Group, BMW Z4 top Total Value Awards by Strategic Vision

It was just nine months ago that Strategic Vision announced its 2011 Total Value Awards, but you don't have to wait until next year for the 2012 awards. The Volkswagen Group keeps its lead as the number one brand, with seven products taking top category spots: Golf, Jetta Wagon, CC, Eos and Audi A3 Wagon, Q5 and Q7. Strategic Vision says "true innovation" - "rich and impactful, intuitive, motivational, in-depth and is able to trigger description by the user in great specificity" - is the open secret of the brands with the strongest showings. Results are culled from 77,153 owners covering more than 350 new cars bought between September of 2011 and 2012 ranked in the Total Value Index (TVI).
Other notable winners are Hyundai-Kia following VW in the brand category and having the Hyundai Elantra and Kia Sorento among category winners, the BMW Z4 taking the premium roadster category and the highest overall score of any vehicle, the Chevrolet Volt continuing to gather silverware in the Special Category, nabbing the second-highest score of all and representative of "nearly perfect innovation," and Chrysler and Dodge being most improved.
Check out the press release below for your day's dose of jargon and all the winners.