2009 Kia Spectra Lx Sedan 4-door 2.0l 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.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Kia Sorento is the official ride of the Justice League

Toyota showed us a Spongebob Squarepants-themed Toyota Highlander last week. Kia has now revealed a Justice League themed Sorento. Can we just have normal, competent crossovers without all the animation frosting, please?
To be fair, this Sorento is for a good cause. It will be part of a charity auction on eBay, benefitting DC Entertainment's We Can Be Heroes campaign, which raises money for the famine-ridden Horn of Africa, a region that's facing its worst food crisis in six decades. DCE's President, Diane Nelson, claims DC has managed to raise over $285,000 through crowd-funding campaigns and unique opportunities for its fans. The Justice League Sorento is just the latest such fund-raising opportunity, with the automaker having already commissioned a number of similar themed vehicles for individual members of the Justice League.
The seven-passenger Sorento was designed by Jim Lee and created by West Coast Customs. It sports graphics that, relative to the Spongebob Highlander, are downright subtle. Batman, Green Lantern and Wonder Woman are depicted on the driver's side, while Superman, the Flash, Aquaman and Cyborg are on the passenger side. The Justice League logo is emblazoned on the Sorento's hood.