2015 Kia Forte Ex on 2040-cars

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Hyundai, Kia announce buyback plan for angry Korean investors

Hyundai's controversial decision last September to move its Korean headquarters to an expansive (and expensive) new facility was met with a swift backlash by shareholders. After making the biggest land purchase in South Korean history, the company's share price took a nine-point nose dive.
Now, in a bid to get back in the good graces of its stockholders, Hyundai and its subsidiary, Kia, will make a $615-million stock buyback plan. Reuters claims this is the first time in ten years that Hyundai has made a buyback offer with the explicit purpose of pumping up share prices.
The total deal bumped up Hyundai's share prices 5.7 percent while Kia is up two percent, although neither company has fully recovered from the battering that followed the headquarters announcement. It's unclear what else it will take for Hyundai to recover the ground it lost during the land deal.

Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.

Kia's second Super Bowl commercial lets booth professionals have their revenge

This is more like it, Kia. After last year's highly successful Adriana Lima-infused Super Bowl commercial for the Optima, we weren't that impressed with this year's Super Bowl ad for the new Sorento called Space Babies that Kia showed us earlier in the week. Its second spot for this year's big game, however, gave us a chuckle.
Called Hotbots and starring Miss USA Alyssa Campanella as a futuristic robot, the ad plays out a fantasy that we know for certain has crossed the minds of many booth professionals. These are the attractive set of women and men who plant themselves next to new cars at auto shows. More than just eye candy, they're usually extremely well educated on the product's specs and features. Despite that fact, they have to put up with constant oogling and questions like, "Do you come with the car?" What this T-1000 won't put up with is fingerprints on her shiny new 2014 Kia Forte, and she does something about it. Watch for yourself below.