2011 Kia Lx on 2040-cars

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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 Sportspace Concept is a big, red wagon that previews the future

The Kia Sportspace Concept might preview some design elements for the next-gen Optima, but for now the Korean brand is keeping the focus on this somewhat sporty looking wagon on display at the Geneva Motor Show. Its shape is designed specifically to appeal to European tastes, and the styling comes from the company's design studio Frankfurt, Germany. Despite the European design ethos, there's no mistaking the Sportspace as anything but a Kia. Up front, it features a sharper version of the brand's familiar tiger-nose grille that runs horizontally to link the LED headlights. However, the major visual focus for the concept is the long roof and angled rear hatch. The designers even pitch the D-pillar forward for a slightly more sporty style. The interior almost appears to come from a completely different model. The combination of black upholstery with carbon fiber trim and large pieces of anodized aluminum makes it look like a very dark place for a drive. Kia is apparently trying to appeal to the Sportspace's Swiss audience, though. The company touts that there's enough room to store a set of skis by fitting them between the rear seats. Power for the Sportspace comes from a 2.0-liter turbocharged four-cylinder with 247 horsepower that spins the front wheels, but the automaker doesn't specify anything about the transmission that it all routes through. Looking at the current Optima, it isn't hard to see the future design evolving this way. Get a preview from this big, red wagon on the show floor of the Geneva show in our gallery, above. DESIGN OVERVIEW: THE KIA SPORTSPACE CONCEPT The working week is over. The late afternoon sun is glinting on the ice crystals in the road-side snowbanks and turning the snow-capped peaks ahead pink. The road snakes ahead towards a weekend of fun and action. The journey demands a swift, efficient and refined machine to allow the maximum pleasure to be extracted from the time available. This is exactly the role for which the Kia SPORTSPACE was conceived. Its muscular proportions are ready to deliver a safe, secure but speedy passage to the slopes. Its cosseting and refined interior provides convivial yet individual space for its four passengers. Its sleek and elegant lines – both inside and out – are functional but stylish, allowing its travelling partners both comfort and convenience within a bodyshape that stands out from the crowd. This is a concept that has extracting the maximum from life at its heart.

Are old airbags killers?

Takata airbags may not be the only ones with some very serious problems. A new report from TheDetroitBureau.com claims that the National Highway Traffic Safety Administration has opened its second investigation into bad airbag inflators, and this time, they aren't from Takata. The focus of this latest case is on the airbag inflators in some 500,000 older Chrysler Town and Country minivans and Kia Optima sedans, all of which come from ARC Automotive. While the Takata case looks at problems stemming from the engineering and production process, the ARC investigation focuses on the age of the inflators. As TDB explains, airbag inflators are essentially what the military refers to as shaped charges, sort of like Claymores (for fans of the Call of Duty series). In combat, they blow up in a specific direction, protecting those behind the explosion, although in the case of airbags, the explosion "[creates] a precise rush of hot gases" that inflate the bags. NHTSA's worry is that with the increased average age of today's vehicles, years and years of being bounced, jolted, and shaken about and exposed to often-radical temperature changes have altered the nature of the explosives in these vehicles, causing too big of an explosion. "It may be a reasonable assumption that as these things age they deteriorate." – Analyst George Peterson "It may be a reasonable assumption that as these things age they deteriorate," analyst George Peterson told TheDetroitBureau.com. NHTSA boss Mark Rosekind backed up aging angle. "Cars are lasting on the road a lot longer than ever before," Rosekind told TDB, adding that seals could start breaking down. "Is aging now an issue? That's part of the investigation going on." NHTSA has only identified two "incidents" so far, although according to Center for Auto Safety Director Clarence Ditlow, there's genuine concern that there could be additional unidentified cases. "Could we have missed more? That could be the case," Ditlow told TDB, citing the misidentified deaths in the Takata investigation. Ditlow was quick to point out that, even in older vehicles, airbags are much more likely to protect than harm. "No one is saying you should disable your airbags," the safety advocate told TDB. "You're far more likely to be helped than hurt by one if they go off." At least one automaker, meanwhile, has already been advised of the investigation by NHTSA and is checking its airbags.