2009 Kia Sportage Lx Sport Utility 4-door 2.7l on 2040-cars

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Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

Kia Soul EV starts production in Korea

As sister company Hyundai delivers its first Tucson fuel cell vehicles in California, Kia has kicked off volume production of the Soul EV in Korea. We've driven the prototype and are excited about the arrival of this electric vehicle. Kia is already calling the production start a landmark event, but let's remember that other automakers have been building production EVs for years now. The EVs won't be exported outside of Korea until later in 2014, but the automaker is hoping to make 5,000 a year at its Gwangju facility. The first batch is headed to "select European countries" with more coming to Europe at a later date. The vehicle might be coming to the US in the third quarter. The Soul EV is Kia's second production EV, following the Ray EV. Kia only made 2,500 of them for governmental agency use in Korea. We've got a little video on the Soul EV here. As a reminder, the Soul has a 27-kWh lithium-ion polymer battery which is good for a now-official range (on the European test cycle) of 212 kilometers. That's 132 miles, but expect a good chunk to get knocked off when it gets rated on the US text cycle. For example, the Nissan Leaf is rated at 199 kilometers (123 miles) in Europe but only 84 miles from the EPA. Read Kia's press release below. Start of production for all-electric Kia Soul EV Volume production of Soul EV for export is a landmark in Kia's history Ideal for commuters, Soul EV goes on sale outside Korea later in 2014 Class-leading drive range of 212 km certified for Europe 81.4 kW motor produces 285 Nm of torque for 'fun-to-drive' motoring The first vehicles off the production line are destined for select European countries and are scheduled to go on sale across the continent during the second half of the year. The Soul EV is manufactured at Kia's Gwangju facility in Korea, where annual output of the electric car is planned to reach 5,000 units. "Now that production of export models has begun, the new Soul EV is truly at the forefront of Kia's 'Clean Mobility' program, providing environmentally-friendly transport to our customers around the world," comments Thomas Oh, Executive Vice President and COO, Kia Motors Corporation.

2014 Kia Optima is better by a nose

Kia is showing off a slew of vehicles here in New York, including the ever-so-slightly refreshed 2014 Optima sedan you see here. The brunt of the changes surround the new front fascia, with repositioned LED lighting above the headlamp units and some new quad-LED fogs rounding of a touched-up front bumper. At the rear, Kia has reworked the taillamps, and of course, LEDs are found there, as well.
Other changes to the Optima for 2014 include the additions of two new displays inside the cabin - a 4.3-inch TFT display in the gauge cluster and a larger, eight-inch high-resolution screen that houses the navigation and infotainment data. There are also new seats inside the Optima, which are hopefully more comfortable and offer better bolstering than the decidedly flat chairs found in the current car, plus Kia has added available new safety features like blind spot monitoring and cross-traffic alert.
The powertrain offerings have not changed for 2014 - base cars still get a naturally aspirated 2.4-liter engine while the SX models get the 2.0-liter turbo. There is, however, a new Drive Mode Select system specifically for the SX, which adjusts transmission shift points and steering weight for a more engaging dynamic, or so we're told. (The Optima Hybrid model did receive upgrades to its battery and electric motor just recently, but those changes technically hit during the 2013 model year - it is not immediately clear if the gas-electric model will receive the updates shown here).