2012 Kia Sorento Lx on 2040-cars

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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.

Sales incentive growth clustered around brands with few CUVs, trucks

While it's arguably been around the longest, the dominance of the four-door sedan has been under threat for many years. As a further sign of the hurtin' that SUVs and crossovers have put on today's four-doors, a new report from Automotive News points to the increasing use of incentives by brands reliant on cars and light on CUVs and pickups.
Honda, Toyota, Volkswagen and Kia have all been stung by double-digit increases in their incentives-to-transaction price ratio, according to AN, which cites data from TrueCar. Honda's ratio is up 14 percent, while Toyota, VW and Kia are up 18, 15 and 19 percent, respectively.
"Most of the incentive growth we have seen is in product segments with low demand - midsized or large sedans," TrueCar CEO John Krafcik told AN. "As this trend goes on, the brands with three-sedan strategies are going to be in worse shape on incentive spending than the crossover brands."

2016 Kia Optima 2.0T Quick Spin [w/video]

Kia might live under the corporate shadow of parent company Hyundai, but don't confuse the Kia Optima for a rebadged Hyundai Sonata. That hasn't been the case for years, and the new 2016 Optima is more of its own car than ever before. Yes, both cars share a 110.4-inch wheelbase and 191.1-inch length, two engines, and under-the-skin hardware components. But you wouldn't know they were related just by looking – or by driving. In addition to the 2.0-liter turbocharged engine, Kia offers a 2.4-liter naturally aspirated four on the base end, and a 1.6-liter turbo-four aimed at higher fuel economy. For more on those powertrains, stay tuned for our full First Drive story coming in a few days. My drive time in the Optima focused mostly on the 2.0-liter turbo-equipped version, in loaded trim. Sure, I drove the fancy one, but this car feels so refined that Toyota should be worried. Driving Notes 2.0-liter turbo models use a rack-mounted steering assist motor, compared to the column mounted unit paired to other engines. It's a costly upgrade for Kia, but it offers better feedback and steering feel. Kia firsts include automous emergency braking, and high-intensity discarge headlamps with active cornering and automatic high beams. I didn't have a chance to try either feature, but I can tell you the adaptive cruise control works with minimal frustration. Another new item, first used on the Sorento, is Harmon Kardon Clari-fi digital music restoration, which claims to improve the sound quality of compressed music. I sampled the optional 14-speaker, 630-watt system with some 320 kbps MP3 files over the USB input and was amazed by the clarity and sound quality. The interior layout, with its horizontal swatch of buttons on the dash, is a clean and refreshing. It's a welcome break from more over-styled sedans that sacrifice swoopy contours for functionality. Kia focused on quality materials and feel. The push-button start is metal, models with the panoramic sunroof get ceiling mood lighting with rear LED reading lamps, and top-of-the-line SXL come with nappa leather. It goes a long way to justify the SXL's base price of $36,615. This car is quiet. The roads outside of Las Vegas are smooth, but the desert sun leaves the surface pockmarked. That's usually a recipe for tire noise, but I didn't hear any hum. Kia's product planners gave credit to the Michelin tires. I'll have to sample the car on some worse roads before giving a final impression.