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Kia recalls 98,000 Sedona minivans for suspension corrosion

The Basics: Kia is recalling 97,884 Sedona minivans built between June 15, 2005, and Aug. 12, 2012 over potential corrosion of front lower control arms. This is the second time Kia has recalled Sedona vans of this era for suspension corrosion issues. It's also worth noting that the Korean automaker is also recalling certain Sedona models over hood latches that could corrode. The Problem: Vehicles registered in any of the 27 states that use salt to de-ice roadways (see the complete list below) could have prematurely worn suspension components that vibrate or even break. That, as you can imagine, could lead to an accident. Injuries/Deaths: None reported. The Fix: Dealers will inspect and, if needed, replace the minivan's front control arms. Additional anti-corrosion coatings will be applied to keep this problem from happening again. Owners should expect a notice around July 25. If you own one: You can contact Kia at 1-800-333-4542 (Kia's number for this recall is SC133), or the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 for more information. Related Video: RECALL Subject : Front Lower Control Arm Corrosion Report Receipt Date: JUN 01, 2016 NHTSA Campaign Number: 16V387000 Component(s): SUSPENSION Manufacturer: Kia Motors America SUMMARY: Kia Motors Corporation (Kia) is recalling certain model year 2006-2012 Kia Sedona vehicles manufactured from June 15, 2005, through August 14, 2012 and originally sold in, or currently registered in Alaska, Connecticut, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Dakota, Utah, Vermont, West Virginia, Wisconsin and the District of Columbia. In the affected vehicles, the front lower control arms may break due to corrosion from salt water exposure such as from road salt use. CONSEQUENCE: A broken control arm can result in the loss of control of the vehicle, increasing the risk of a crash. REMEDY: Kia will notify owners and dealers will replace the front lower control arms on 2006-2007 models. 2008-2012 models will either have their front lower control arms replaced or additional anti-corrosion coating will be applied. These repairs will be performed free of charge. The recall is expected to began on July 25, 2016. Owners may contact Kia at 1-800-333-4542. Kia's number for this recall is SC133.

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.

2015 Kia K900 debuts as brand's RWD flagship model

Despite the fact that executives at both Hyundai and Kia alike have said on numerous occasions that the two companies are separate entities (and largely, they are), there's still a lot that's shared between the two brands. Common platforms and powertrains are found in a number of different Hyundai and Kia products, though the end results have typically been cars that, to the consumer's eye, are quite different. So when Hyundai got its first rear-wheel-drive sedan, the Genesis, a few years ago and followed it up with the larger, more luxury-oriented Equus, it was only a matter of time before sister company Kia got a slice of the RWD pie. And the first product to use this architecture is this, the new K900 sedan that makes its debut at the LA Auto Show.
Kia will offer the K900 with both V6 and V8 power.
Think of the K900 as something of a mix between the Genesis and Equus. All three share the same platform, but the K900 share the Equus' 119.9-inch wheelbase, as well as its front and rear tracks measured at 63.8 and 64.1 inches front and rear, respectively. But unlike the V8-only Equus, Kia will offer the K900 with both V6 and V8 power, like the Genesis. In fact, the K900 will offer the same two engines, although tuned slightly differently, as the Genesis: a 3.8-liter V6 producing 311 horsepower (no torque output is listed as of this writing) and the company's 5.0-liter Tau V8 producing 420 horsepower (oddly, Hyundai rates the Genesis and Equus at 429 hp with this same engine, though that's with premium fuel). Eight-speed automatic transmissions are standard with either powerplant, with Eco, Normal and Sport shift settings.