2001 Kia Sportage Base Sport Utility 4-door 2.0l 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 GT to debut in Paris, production in 2017

After years of waiting, the Kia GT four-door coupe (concept pictured above) could finally debut in production guise at the Paris Motor Show in October, and the brand would start making it in 2017, according to Autocar. The South Korean automaker could also create a hotter variant of the pint-sized Rio in 2018 to give the lineup a dash more performance. Kia debuted the rear-wheel drive GT concept at the 2011 Frankfurt Motor Show, and the svelte four-door offered some speed thanks to a 3.3-liter turbocharged V6 with 389 horsepower and 394 pound-feet of torque and an eight-speed automatic gearbox. Kia seemed primed to build the model several times over the years as a US-focused vehicle, but the latest report hinted that production wouldn't happen until 2017. Autocar claims that the final design incorporates cues from the sporty GT4 Stinger concept. Kia also intends to introduce performance-oriented models with the GT moniker lower in its range. According to Autocar, the Rio GT would ride on the vehicle's lighter next-gen platform and offer about 180 horsepower from a 1.6-liter engine to compete against the Ford Fiesta ST, which already has 197 hp. However, the South Korean automaker might want to consider a more potent powerplant to keep up in the hot hatch arms race, because spy shots already suggest the Blue Oval's development of a Fiesta RS with around 250 hp. Related Video: Featured Gallery Kia GT Concept: Frankfurt 2011 View 13 Photos News Source: AutocarImage Credit: Copyright 2016 Drew Phillips / AOL Design/Style Rumormill Paris Motor Show Kia Hatchback Concept Cars Performance Sedan 2016 paris motor show kia rio kia gt kia gt concept

8 fastest depreciating cars in America

Getting a new car is an amazing experience. The fresh new scent, the barely touched interior, the double digit miles on your odometer, and... the depreciation once it leaves the car dealers lot? Maybe not that last one. To save you from the hurt of a quickly depreciating new car, we collected 8 of the fastest depreciating cars in America. And here's a surprise, one of them is a Toyota. Learn more at Autoblog.com Cadillac Infiniti Jeep Kia Lincoln Toyota Autoblog Minute Videos Original Video jeep compass cadillac xts infiniti q50 camry q50