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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.

2017 Kia Sportage First Drive

It's hard to get excited about most mainstream crossovers, but the truth is this is one of the hottest segments of the market right now. The automotive space is saturated with a glut of these profit-making, two-box, semi-practical, soft-roading vehicles, and the tide isn't likely to abate soon. At first blush, Kia's redesigned 2017 Sportage isn't the most eye-catching of new products, but it's poised to do very well in the ongoing CUV wars. Progress in this kind of battle is often measured in inches of space, and the 2017 Sportage grows both inside and out. The new Kia measures the same 73 inches wide as its predecessor, but it gains 1.2 inches on the wheelbase, and 1.6 inches in overall length. There's more room overall for passengers, and there's 18-percent greater cargo space in back. Plus, the luggage floor can be moved down into a lower position to make more vertical space when needed. The Sportage was penned by renowned designer Peter Schreyer (he of first-gen Audi TT fame), but the end result is a bulbous-looking crossover, especially when viewed from the front – it's like a chipmunk with too many acorns in its cheeks. The "tiger-nose" grille – a hallmark of Schreyer – was moved up to accommodate the "ice-cube" fog lamps, while the headlights sweep back along the sides of the car. The A and C pillars are thinner, allowing occupants better visibility from inside the car, but from the outside, the rear three-quarter view looks blocky and cut up. The rear doesn't seem to match the rest of the car, either – it's more svelte and understated. Looking past its exterior design, the new Sportage is marginally, uh, sportier, thanks to a new, lighter, stiffer body, a redesigned suspension, and new engine tuning. Kia is mostly chasing improved fuel efficiency with its latest powertrain updates, as both engines have slightly lower outputs than their predecessors but have marginal improvements in fuel economy. The entry-level 2.4-liter inline-four (same as the Optima and Sorento) puts out 181 horsepower and 175 pound-feet of torque – decreases of only 1 hp and 2 lb-ft – and can be had with front- or all-wheel drive. Step up to the top-of-the-line SX Turbo and you get a 2.0-liter turbo-four that puts out 240 hp and 260 lb-ft of torque (that's 20 hp and 9 lb-ft less than before). Kia estimates the 2.4/FWD combination will return 23 miles per gallon city, 30 mpg highway, and 26 mpg combined, while the 2.0T/AWD will score 20/23/21.

Kia to green-light GT and Provo for production?

Kia is looking to inject a bit more performance life into its brand, and according to Auto Express, the company is looking at creating sporty models based on two of its recent concept cars, the GT four-door from the 2011 Frankfurt Motor Show (shown above) and the Provo hybrid hatchback that debuted in Geneva last week (inset, right).
"The GT is close to being approved and going into production, but, as with all our cars, they have to be developed on a sound financial footing," Benny Oeyen, Kia Europe's VP of marketing and product planning, told Auto Express. When it debuted, the GT four-door was powered by a turbocharged 3.3-liter V6, reportedly good for 389 horsepower and 394 pound-feet of torque, mated to an eight-speed automatic gearbox.
The Provo, on the other hand, could stand as a sort of halo car for the company's B-segment offerings. It would ride on the same front-wheel-drive platform as the Rio compact, though Kia says it's eager to keep the concept's gasoline-electric powertrain intact. "Our brand is currently rational, but there's space for a B-coupe," says Oeyen. Of course, the company would indeed have to look at different naming possibilities for its B-segment coupe, since the week-old Provo is already stirring up some controversy.