2014 Kia Soul Base on 2040-cars

Auto blog

Hyundai and Kia recalling 1.6M more models for faulty brake switch

In what is likely the largest recall campaign for Hyundai and Kia, the National Highway Traffic Safety Administration has announced a recall of more than 1.6 million models due to a faulty brake switch. This is in addition to almost 700,000 Hyundai and Kia models recalled for the same problem back in 2009.
In more than 620,000 Kia models and 1 million Hyundai products for the 2007 through 2011 model years, the brake switch could malfunction causing the brake lights to not illuminate, which could lead to accident. Other possible issues with a faulty switch include the cruise control not cancelling with the brake pedal, the push-button starter not working properly and the shift interlock not disengaging causing the transmission to be stuck in Park. To fix the problem, the brake lights switch will be replaced.
Due to the large number of units being recalled, both automakers are issuing a notice by next month with parts not expected to be ready until June. The full list of affected vehicles and the NHTSA press releases are posted below.

Kia dealers report K900 flagship RWD sedan is coming to US

Kia has told dealers that it will bring a $50,000 to $70,000, rear-drive flagship sedan to the United States early in 2014, although it won't be called what you think. Instead of the unloved Quoris name, the full-size sedan will be called the K900.
That name change is a welcomed one, judging by our initial reactions to Quoris. Names aside, though, the K900 sounds like an interesting piece of kit. It'll be riding on the same platform as the Hyundai Equus, although we suspect Kia's car will be quite a different beast than it's corporate cousin. Automotive News is reporting that the K900 should have a pair of engines when it arrives in the US - a 3.8-liter V6 and a 5.0-liter V8. The former puts out 290 horsepower, while the V8, which is likely the same Tau engine found in the Equus, should have around 420 hp. LED headlights, adaptive cruise control and all the other trimmings expected at this price point will also make appearances on the K900.
Kia's national dealer council, Don Hobden, told Automotive News the K900 should represent "7-Series value for a 5-Series price." While Kia wouldn't comment on the new model, AN reports that it's targeting 5,000 units next year, with a limited rollout at select dealerships.

Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.