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Auto blog

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.

Autoblog Podcast #317

Mitsubishi Mirage, Toyota thinks of beefing up US production, Marchionne on Alfa, Dart and minivans, Ford Atlas concept, Honda Gear concept
Episode #317 of the Autoblog Podcast is here, and this week, Dan Roth, Jeff Ross and Michael Harley bookend the other podcast topics with a pair from the Montreal Auto Show, the Mitsubishi Mirage and Honda Gear concept, and in between we talk about Toyota building all its US-market cars stateside, Hyundai building a Nurburgring test facility, Sergio Marchionne's latest words about Alfa Romeo, Dodge Dart powertrains and the future of Chrysler vans. Some chatter about the Ford Atlas concept finishes up the meat of the 'cast and then we wrap with your questions. For those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!
Autoblog Podcast #317:

2015 Hyundai Genesis earns IIHS TSP+ [w/video]

Hyundai has just earned itself another Top Safety Pick+ award, following on the success of the Elantra way back in August 2013. The Insurance Institute of Highway Safety has certified the new, second-generation Genesis luxury sedan as a TSP+ following a successful round of crash testing.
The Genesis secured the prestigious ranking with the help of a "good" rating in the notorious small-overlap front crash test. Data from dummies showed that there was a low risk of serious injury in the 40-mile-per-hour impact.
Beside the small-overlap test result, the Genny scored a "superior" on the frontal crash test, while the moderate overlap, side, roof strength and head restraint scores were "good."