2023 Kia Forte Lxs 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.

Minivan market not what it used to be, but margins make up for it

Residual values for last year's minivans are higher than they were in 2000.
Much like the station wagon was the shuttle of Baby Boomer generation, the minivan has been the primary means of transport for Generations X and Y. Just as the boomers abandoned the Country Squire, though, those kids that were toted around in Grand Caravans and Windstars are adults, and they certainly don't want to be seen in the cars their parents drove.

2017 Kia Cadenza First Drive

"Garbanzo? Costanza? Credenza?" I can't tell if the guy at the bakery is trying to be funny or if he's genuinely forgetting the name of the car – I've told him twice; it's the 2017 Kia Cadenza. But you know, maybe the miscommunication is just fine. Like the Cadenza itself. It's fine. You shouldn't read that negatively. Every now and then in this job, you drive a car and simply come away thinking, "it was fine." And if you're building a car in this particular segment, that's practically the response you hope to elicit. A comfortable jack-of-all-trades at a price that isn't going to bankrupt the owner. Consider the Cadenza's competition: Toyota Avalon, Nissan Maxima, Chevrolet Impala, Buick LaCrosse. These aren't groundbreaking luxury vehicles, masters of utility or fuel economy, or Nurburgring-smashing sports sedans; they're... fine. You almost feel bad saying it – from a very reasonable angle it's a great segment, populated with cars offering a lot of the same equipment and a little more bang for the buck than a full-on luxury sedan, and tending to be roomier, too. And yet it's that dilution of dedicated purpose that keeps these models stagnant in showrooms compared to the more luxurious – and certainly to the more economical. It's hard to raise an eyebrow here. So it goes with the Cadenza. Despite looking a heck of a lot like the previous car, the new Cadenza has been reworked significantly – the use of high-strength steel has doubled, to over 50 percent; the use of hot-stamped steel has tripled; the doors are 16 percent more dent-resistant; the chassis has 35 percent greater torsional rigidity; there's a new subframe (similar to that of the Optima); the front windows are now laminated and there's 13 percent more sound insulation in the A-pillars; there's a full underbody cover and wheel air curtains; it has a new eight-speed transmission – developed in-house; there are 40 fewer pounds of unsprung weight thanks to aluminum parts; the brakes are bigger; and there's a bevy of upscale tech features – but we lost you halfway through that paragraph. The styling is a little sharper than the outgoing model's – it's not going to blow your pants off, but it's hardly a bad-looking car. The updated design features Kia's now-trademark quad-LED setup within the lower front grilles, and the main grille is a concave affair – base models get a "Diamond Butterfly" insert you know from other Kia models, and higher-end Cadenzas get "Intaglio" vertical slats.