2011 Kia Sorento Awd 4dr V6 Ex Cd Player Traction Control Power Windows on 2040-cars

Auto blog

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.

Kia previews upcoming Niro hybrid crossover

Kia is gearing up to launch a new hybrid crossover. Called the Niro, it's touted as the first of its kind in South Korea. And here we have our first glimpse of what it will look like. Previewed in this pair of teaser renderings, the Niro will be a dedicated hybrid crossover. The automaker says that the powertrain will be based on a 1.6-liter version of Hyundai's Kappa engine producing 105 horsepower and 108 pound-feet of torque. That seems a little low to us for an engine that size, considering that the same size engine in the Rio produces 138 hp and 123 lb-ft, but we'll see how the final specs work out. It's slated to be paired to a six-speed dual-clutch transmission, an electric motor good for another 47 hp, and a 1.56-kWh battery pack. The hybrid powertrain will be packed into a compact crossover with what looks to be a fairly sleek design. Up front, you'll see the brand's signature tiger-nose grille, angular headlights, sculpted flanks, a relatively high belt line, and an aggressive rear end. Of course, the wheels on the final version won't fill the wheel wells quite as much, and you can expect them to be wearing narrower tires with low rolling resistance, as befits a dedicated hybrid. The Niro name was previously applied to a more rounded crossover concept unveiled at the 2013 Frankfurt Motor Show. The production model with its hybrid powertrain will form part of Hyundai-Kia's endeavor to reduce its average fleet fuel consumption by 25 percent by 2020. It's slated to launch in some markets in the first half of next year. Related Video:

Kia Stinger base trim is for people who hate colors

The 2018 Kia Stinger is a looker, and at least in twin-turbo V6 guise, a pretty impressive performer, too. Not only that, its base price of $32,795 is quite attractive for the base turbocharged four-cylinder model, which with 255 horsepower and rear-drive is still a compelling package. Unfortunately, there's a hitch with the affordable four-cylinder cars: You don't have any real color choice. As it turns out, the base-model Stinger has just three color options. They consist of white, silver, and black. Yay. Paying an extra $5,200 for the Stinger Premium, while adding additional features such as a sunroof and premium sound system, only adds one more color, blue. The only way to get the full spectrum of colors including white, silver, dark gray, black, blue and red is to pony up for a Stinger GT, the V6 version. That model starts at $1,250 more than the four-cylinder Stinger Premium, and $6,450 more than the base version. So if you want a colorful Stinger, you'd better be ready to buy the one with the big engine. On the plus side, though, you get a whole lot performance for not a lot more than a top-end four-cylinder. Related Video: Image Credit: Kia Kia Car Buying Hatchback Performance Sedan consumer kia stinger gt kia stinger