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Hyundai recalls 10k Genesis Coupes for detached driveshafts

Hyundai has issued a recall for 10,800 examples of the Genesis Coupe. The problem with vehicles affected rests with the differential, which may have been misaligned with the crossmember of the rear suspension. In such a case, the bolts securing the differential may loosen, and could lead to the driveshaft disconnecting entirely, resulting in the complete loss of propulsion. The recall specifically affects certain models manufactured between December 28, 2011, and April 6, 2015. The problem is only with those units fitted with the six-speed manual transmission and not the eight-speed automatic. To address the problem, owners will be asked to bring their Genesis Coupes in to their local dealer to "verify the proper assembly of the differential." The Genesis Coupe was first introduced in its home market back in 2008, and arrived in North America the following year as a 2010 model. The most recent revision happened in 2013 – the model year with which this recall begins. A completely new model is expected to arrive soon as part of the new Genesis luxury sub-brand's lineup. Related Video: RECALL Subject : Rear Suspension Bolts may be Loose Report Receipt Date: NOV 16, 2015 NHTSA Campaign Number: 15V756000 Component(s): POWER TRAIN , SUSPENSION Potential Number of Units Affected: 10,800 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain model year 2013-2015 Genesis Coupe vehicles manufactured December 28, 2011, to April 6, 2015, equipped with manual transmissions. In the affected vehicles, if the differential and the suspension rear crossmember were not properly aligned during vehicle assembly, the bolts that secure the differential may loosen. CONSEQUENCE: If the rear differential loosens from its mounting position, the driveshaft may disconnect from the differential, resulting in a loss of propulsion and an increased risk of a crash. REMEDY: Hyundai will notify owners, and dealers will verify the proper assembly of the differential, free of charge. The recall is expected to begin on January 11, 2016. Owners may contact Hyundai's customer service at 1-855-671-3059. Hyundai's number for this recall is 135. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.

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.