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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.

Kia Sedona and Hyundai Tucson recalled for hood latches

The Basics: Hyundai and is Kia division have issued two recall notices, both for similar issues. The larger of the two affects 219,800 units of the 2006-2014 Kia Sedona minivan built between June 15, 2005, and April 04, 2014. The second relates to 81,000 examples of the 2016 Tucson crossover manufactured from May 19, 2015, to March 14, 2016. The Problem: In both cases, the secondary hood latch may not properly secure the hood in place and keep it from opening while under way. Injuries/Deaths: None reported. The fix: Dealers will replace the secondary hood latch, or in the Sedona's case, maybe just clean and lubricate the latch, as needed. Both campaigns are set to begin next month. If you own one: Make sure you don't accidentally release the primary hood latch while driving or the secondary latch may not do its job. Related Video: RECALL Subject : Secondary Hood Latch may Bind and not Latch Report Receipt Date: JUN 01, 2016 NHTSA Campaign Number: 16V389000 Component(s): LATCHES/LOCKS/LINKAGES Potential Number of Units Affected: 219,800 Manufacturer: Kia Motors America SUMMARY: Kia Motors Corporation (Kia) is recalling certain model year 2006-2014 Kia Sedona vehicles manufactured from June 15, 2005, through April 04, 2014. In the affected vehicles, the secondary hood latch may bind and remain in the unlatched position when the hood is closed. CONSEQUENCE: If the primary latch is inadvertently released and the secondary latch is not engaged, the hood could unexpectedly open while driving, increasing the risk of a vehicle crash. REMEDY: Kia will notify owners and dealers will replace the secondary hood latch or clean and lubricate the latch, depending on the vehicle's location and the condition of the latch. These repairs will be performed free of charge. The recall is expected to begin on July 25, 2016. Owners may contact Kia at 1-800-333-4542. Kia's recall number is SC134. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. ## RECALL Subject : Secondary Hood Latch may Disengage Report Receipt Date: MAY 24, 2016 NHTSA Campaign Number: 16V348000 Component(s): LATCHES/LOCKS/LINKAGES Potential Number of Units Affected: 81,000 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor Company (Hyundai) is recalling certain model year 2016 Tucson vehicles manufactured May 19, 2015 to March 14, 2016.

2014 Kia Soul gets new 'Totally Transformed' hamster commercial

The lovable, anthropomorphic hamsters from Kia are known for electronic dance music, head bopping, and of course, a certain funktastic Korean box-on-wheels. With a new Soul on the way, the adorable rodents need to be ready to appear alongside the resculpted crossover. Only one thing could get them ready in time - cue the training montage.
The commercial, called Totally Transformed, features Lady Gaga playing in the background, along with gratuitous footage of the hamsters shedding some weight. The Kia designers also get some attention, as they're hard at work designing the hamsters' new ride. Take a look below for the full, 91-second spot.