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Auto blog
These cars are headed to the Great Crusher In The Sky
Fri, 24 Aug 2012It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.
Hyundai recalling 186k Elantras due to possible headliner detachment
Wed, 10 Apr 2013Following at least one reported incident of a man who claimed his ear was sliced in half following the deployment of his side airbag, Hyundai has announced a recall for certain model year 2011 through 2013 Elantras; specifically those manufactured from November 12, 2010 through March 5, 2013. In these Elantra models, a support bracket that is attached to the car's headliner may become dislodged when the side curtain airbag deploys. If that should happen, occupants may be in danger of a laceration injury by way of the flying bracket.
Hyundai will notify owners of affected vehicles, while dealers will service the dangerous bracket by applying adhesive strips. (Feel free to insert your own duct tape joke here.) The service will be performed free of charge, starting in May of this year. Follow on to read the National Highway Traffic Safety Administration notice, below.
Insider trading ahead of Hyundai-Kia MPG debacle suspected
Fri, 21 Dec 2012Reuters 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.