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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 previews new minivan ahead of New York debut

Kia has grown by leaps and bounds in recent years, but the Sedona has hardly been representative of that maturation. Known in some overseas markets as the Carnival, Kia's current minivan was introduced 2006, withdrawn from US showrooms at the end of 2012, then reintroduced again a year ago. Despite the product renaissance, however, the Sedona is essentially the same dated vehicle it has been for eight years now, but Kia is intent on replacing it.
We've been seeing spy shots of a new Kia minivan for several months now, and broke word a couple of months ago that the finished product would be unveiled in New York this month. Now Kia has not only confirmed the new Sedona's imminent arrival, it has released this teaser image to keep us on our toes.
The teaser shows a vehicle more or less in line with what we'd expect of a modern Kia, tabbed grille and all. This view suggests fewer design cues from the KV7 concept have been carried over than was previously thought, but we'll need to see the entire vehicle to know for sure. Kia isn't saying much about its "all-new midsize multi-purpose vehicle" in the press release below at this point, revealing only that it "will challenge the segment and will offer the functionality to transport as many as eight passengers and their belongings while also serving as a purposeful offering for adventure seekers."

Hyundai-Kia fuel-economy errors trigger $300M in federal penalties [w/video]

This amount includes $100-million in civil penalties, the largest such fines in EPA history.
Hyundai and Kia are getting more than a slap on the wrist for overstating the fuel economy of an estimated 1.2-million vehicles in their 2011-2013 model ranges. The Environmental Protection Agency, the Department of Justice and the California Air Resources Board are hitting the automakers with collective penalties valued at around $300 million for Clean Air Act violations. This amount includes $100-million in civil penalties, the largest such fines in EPA history. Specifically, Hyundai is paying a $56.8 million penalty and relinquishing 2.7-million greenhouse gas emissions credits. Kia is paying $43.2 million in penalties and giving up 2.05-million credits.