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Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

Recharge Wrap-up: Hyundai Tucson Fuel Cell logs moon-worthy mileage, Kolle makes Renault Kangoo ZE pickup

A French company called Kolle has made a pickup truck version of the Renault Kangoo ZE. The converted version of the electric van retains the same battery and drivetrain, offering a range of 106 miles, plus a bit more utility without the restraints of a roof over the cargo area. The tailgate is separated into two hinged doors, which swing open to the side for loading and unloading. Payload is about 1,433 pounds. The price is about $16,400, which includes incentives, but not the price of the battery. Read more at Inside EVs, and get more details at the Kolle website. Drivers in southern California have put enough cumulative miles on the Hyundai Tucson Fuel Cell to reach the moon. The hydrogen-powered crossover recently surpassed a combined 238,900 miles, which is the average distance from Earth to the moon. Mileage and other helpful information is gathered from participating owners periodically. "Surpassing this fundamental stellar threshold gives us a glimpse into the unlimited zero-emissions potential for Hyundai fuel cells," says Hyundai's Mike O'Brien. "If a small fleet of hydrogen-powered fuel cell vehicles can accumulate this kind of mileage in just a few short months, one can only imagine the potential for a zero-emissions hydrogen vehicle future." Read more in the press release below. A cross-country trip in a pickup running on chicken fat is scheduled for March 8. Cliff Ricketts, an agribusiness and agriscience professor at Tennessee State University, originally began the trip in November, running on biodiesel made from chicken fat. The 1981 Volkswagen Rabbit pickup's transmission broke near Kansas City, cutting short the trip between Key West, Florida and Seattle, Washington. With the truck repaired, he hopes to make the 3,550-mile trip next month. During his earlier attempt, though, Ricketts logged fuel economy ranging from 36 to more than 45 miles per gallon. Read more at Domestic Fuel. HYUNDAI TUCSON FUEL CELL DRIVERS FROM SOUTHERN CALIFORNIA ACCUMULATE SUFFICIENT MILEAGE TO REACH THE MOON EMISSIONS-FREE Cumulative Zero-emissions Mileage by Fuel Cell Drivers Surpasses 238,900 Miles FOUNTAIN VALLEY, Calif., February 25, 2015 – Hyundai Tucson Fuel Cell drivers have surpassed an impressive threshold, recently accumulating more than 238,900 miles on the roads of Southern California, all while emitting only clean water vapor.

NHTSA opens probe into 3 million Kia, Hyundai vehicles for fire risks

The National Highway Traffic Safety Administration said on Monday it would open a new safety defect investigation into three million Hyundai and Kia vehicles for fires not caused by crashes. The investigation is in response to a petition seeking a probe by the Center for Auto Safety. The auto safety agency since 2007 has been investigating some Hyundai and Kia vehicles for fire risks. The South Korean automakers have recalled more than 2.3 million vehicles since 2015 to address various engine fire risks. Hyundai did not immediately comment, while Kia did not immediately respond to a request for comment. NHTSA said the decision to initiate the additional safety defect probe was based on its analysis of information received from multiple manufacturers, consumer complaints and other sources. Last month, Connecticut Attorney General William Tong said a group of U.S. states is investigating Hyundai and Kia for potential unfair and deceptive acts related to reports of hundreds of vehicle fires. In November, Reuters reported that federal prosecutors had launched a criminal investigation into Hyundai and Kia to determine if vehicle recalls linked to engine defects had been conducted properly. Reuters reported in January that the companies would offer software upgrades for 3.7 million vehicles not being recalled. A South Korean whistleblower in 2016 reported concerns to NHTSA, which has been probing the timeliness of three U.S. recalls and whether they covered enough vehicles. In 2015, Hyundai recalled 470,000 U.S. Sonata sedans, saying engine failure would result in a vehicle stall, increasing the risk of a crash. At the time, Kia did not recall its vehicles, which share the same "Theta II" engines. In March 2017, Hyundai expanded its original U.S. recall to 572,000 Sonata and Santa Fe Sport vehicles with those Theta II engines, citing the same issue involving manufacturing debris. On the same day, Kia also recalled 618,000 Optima, Sorento and Sportage vehicles, all of which use the same engine.Reporting by David Shepardson.