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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.

Kia bringing updated Rio, Venga to Paris

The Rio may not be the most popular Kia in the United States - not by a long shot - but it was the brand's top seller globally last year. Little wonder, then, that although the current fourth-generation model was only introduced in 2011, the Korean automaker is already rolling out a facelifted version.
Set to be revealed later this week at the Paris Motor Show, the 2015 Kia Rio has been updated inside, out and under the hood. The front end gets a new grille, bumper and foglights, there's a new bumper around back, and a fresh array of alloy wheels ranging in size from 15 inches to 17. There are also two new colors on offer, and the interior has been updated with a new center stack and chrome trim.
Powertrain options depend on local market demands but range from 74 horsepower to 107, driving the front wheels through a five- or six-speed manual or four-speed automatic and available with stop/start ignition. The updates were announced for the European-spec model; we're waiting for confirmation on what, if any, of these revisions will reach US showrooms, so watch this space.

2016 Kia Soul EV gets $2k-cheaper base model

With the 2016 Kia Soul EV arriving at dealers in Washington, Oregon, Texas, Georgia, and Hawaii, the company is set to tap a huge array of new customers. Perhaps recognizing that fact, the South Korean brand has added a new base trim that allegedly slashes the electric car's starting price by some $2,000. Joining the former entry-level Soul EV and top-of-the-line EV+, is the new EV-e. While it's considered the base model, it still offers push-button start and a special driver's-side-only ventilation function for the HVAC system, on top of standard front heated seats and a heated steering wheel. The charging system – two ports, one for Level 1 and Level 2 AC charging, and another for DC fast charging – and electric motor/battery pack remains unchanged on the new base trim. As for the rumored pricing figure, it comes from Kia World, which claims the new EV-e will ring up at just $31,950 before and state or federal incentives. As we said, that's some $2,000 less than the current starting price, if the report proves true. Kia is also addressing the customers at the top of the Soul EV range, adding a new Sun and Fun package for the EV+. The new package adds a panoramic sunroof and LED speaker lights that match to whatever music is playing through the six-speaker stereo. Both features have existed on the gas-powered Soul for some time, but are welcome additions to the electric hatchback. As we reported previously, sales of the Soul EV in Oregon, Washington, Texas, Georgia, and Hawaii should be underway as of this month. It's not clear, however, when the new entry level EV-e will arrive in dealers. Related Video: 2016 KIA SOUL EV OVERVIEW Kia Expands Eco-friendly and Affordable Soul EV Lineup for 2016 New 2016 Soul EV-e trim1 adds new value to the electric vehicle segment New Sun & Fun Package for Soul EV+ (plus) adds a host of premium amenities, including panoramic sunroof IRVINE, Calif., July 8, 2015 – The 2016 Soul EV marks the second year of Kia's first mass-market zero emissions, battery electric vehicle. For 2016, the Soul EV is offered in three trims – Soul EV-e, Soul EV, Soul EV+ (plus) – up from two in 2015. Offering a long list of standard equipment at a lower price point, the Soul EV-e brings new value for those looking for a fun and funky alternative in the EV segment. The Soul EV+ continues as the range-topping trim, and is further enhanced for 2016 with the addition of the Sun & Fun Package.