2006 Kia Sorento Ex Sport Utility 4-door 3.5l on 2040-cars

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Hyundai spooks investors by paying $10B for new Gangnam HQ location

Doing things Gangnam style apparently costs a serious chunk of change, because Hyundai is reportedly paying roughly $10 billion for 19.6 acres (79,342 square meters) of land in the trendy district of Seoul, South Korea, to serve as the location for its new headquarters. That eye-popping number represents the highest amount ever paid for a plot of land in South Korea, according to Reuters. The hefty price tag reportedly scared investors enough for stock prices to sink dramatically.
Shareholders were apparently upset because the massive outlay could instead have been put back into the company for research and development or other improvements. Instead, the company reportedly bid triple the land's appraised value, says Reuters. The announcement caused Hyundai's stock price to plummet a massive 9 percent, and there were losses from Kia and the company's parts arm, as well. All told, the three of them lost nearly $8 billion in value from the falling share prices - almost enough to pay for the controversial land.
Hyundai currently has its headquarters on the outskirts of Seoul, but seems keen to move to the high-end Gangnam district to show off its rising status. It plans to build a new office complex, hotel, convention center and theme park on the site. According to an analyst speaking to Reuters, that could all cost an additional $6 billion to complete.

Kia spotted testing new 2016 Sportage in Germany

Though the first-generation Kia Sportage stuck around for a whopping eleven years, its successor was on the market for six years before the current model was introduced in 2010. At that rate, Kia is likely to reveal the fourth-gen model some time next year, and that is precisely what we seem to have here in this latest batch of spy shots. Spotted undergoing testing at the Hyundai-Kia Technical Center in Russelsheim, Germany, this pair of Sportage prototypes are wearing a lot of camouflage to keep us from extrapolating too much about their design. Still, we're expecting much of the KX3 concept to make it onto the production Sportage as Kia moves its crossover design language in one direction and the sedans in another. Look for a wider, lower grille, wrap-around headlamps and more prominent fog lights to characterize the front end, new LED taillights around back and a silhouette similar to the current model's in between. Expect a range of gasoline and diesel engines to be offered in markets around the world, from 130 horsepower up to 250, mated to a seven-speed dual-clutch transmission. Equipment can be anticipated to be upgraded inside as well, bringing to bear the resources of what has become one of the world's largest automakers. Featured Gallery 2016 Kia Sportage: Spy Shots Image Credit: CarPix Spy Photos Kia Crossover kia sportage

2015 Kia Soul EV production model glimpsed before Chicago

A few days before its on-stage reveal at the Chicago Auto Show, the production version of the 2015 Kia Soul EV has been spotted, tagged and bagged in this series of spy shots. On the EV captured by our photographer's lens, we can see unusual baby blue accents on top, on the mirrors and up front, as well as a closed-off "Tiger Nose" that is both taller and larger than the grille on the standard Soul. The special "Eco Electric" badge on the sides is useful for identifying the car in the picture, but we can't imagine it'll make the transition to showroom floor (at least, we hope). The Soul EV's rear side is different, too, with the bottom lights moved lower and the design of the main taillights tweaked a bit (compare our spy shots gallery to the standard model here). The wheels get a fresh five-spoke design as well. What lies under the new exterior? Some things we already know. The Soul is supposed to have a "class-leading" range of over 120 miles on a charge thanks to a 27-kilowatt-hour lithium-ion polymer battery pack. The electric motor offers 109 horsepower and 210 pound-feet of torque to create a 0-62 mile per hour time of under 12 seconds and a top speed of around 90 mph. What we can't see in these shots is a window sticker, but from what we've heard before, the Soul EV, "won't be priced to stimulate demand." Early predictions put the price at $35,000-$40,000 US – before government incentives – when the car launches in the US in the second half of this year. The gas-powered Soul starts at $14,400. We should learn more in Chicago later this week.