By on December 21, 2012

Possibly a bigger scandal is following Hyundai’s MPG brouhaha: There is a stench of insider trading. “This smells pretty bad,” Robert Boxwell, director of consulting firm Opera Advisors in Kuala Lumpur who has studied insider dealing patterns, tells Reuters.

On November 2, 2012, it was announced that Hyundai and Kia had overstated the fuel economy ratings on many of its cars. Not surprisingly, the Hyundai share did a nosedive on the news. However, the stock had already cratered before the announcement. The stock fell 4 percent on November 1 with about 2.2 million shares changing hands, the highest trading volume of the year at that point.

Some say, it is par for the course at Asian bourses. “The idea that insider trading is wrong rather than smart is only being ingrained in the current generation of Asian players, not the older generation who are often still in the driving seat,” said Peter Douglas, founder of GFIA, a hedge fund consultancy in Singapore, told Reuters.

Get the latest TTAC e-Newsletter!

15 Comments on “After The Hyundai EPA Scandal, The Stench Of Insider Trading...”



Back to TopLeave a Reply

You must be logged in to post a comment.

Recent Comments

  • Re: Ramcharger Rebirth

    Vulpine - Hey, DM. Don’t dis the Betamax! I still have one in working condition bought brand new in 1982.
  • Re: Ramcharger Rebirth

    Vulpine - Learn how to use YouTube and upload it there. Then all you have to do is link to it here.
  • Re: Ramcharger Rebirth

    Vulpine - “Jeep is NOT an iconic brand. The only countries where Jeep has a name are the close WWII allies of the US, ie, UK, Australia, NZ, Canada.” I would disagree with...
  • Re: SEMA Gives Motor Trend Titty Twister, Evans Cries Uncle

    bikegoesbaa - Eh, maybe. I don’t actually care about any of that. I just wanted to provide a counterpoint to your statement that “we...
  • Re: Ramcharger Rebirth

    Vulpine - While I might agree that they can’t fix what Daimler screwed up very quickly (if at all) I would note that their newly-designed vehicles really aren’t doing all...
  • Re: This is Why They Use Fake Ferraris in Movies and TV

    VolandoBajo - I was highly offended, to the point that I would complain about it to anyone who brought up early Bond movies, by the destruction of a BSA...
  • Re: This is Why They Use Fake Ferraris in Movies and TV

    VolandoBajo - And then there was Jerry Lee Lewis, forced by the promoter to open for Chuck Berry. He finished his set with Great Balls of Fire, setting...
  • Re: This is Why They Use Fake Ferraris in Movies and TV

    VolandoBajo - Needs more cowbell…
  • Re: Ramcharger Rebirth

    DenverMike - If it’s a camera from the last 10-15 years, it probably has the Youtube app built-in. Or plug it into a computer with the supplied cord. The computer will then hold...
  • Re: This is Why They Use Fake Ferraris in Movies and TV

    VolandoBajo - Peckinpah’s films were widely panned and considered violent trash by many at the time. Now they are considered to be much better...

New Car Research

Get a Free Dealer Quote

Staff

  • Contributing Writers

  • Bark M., United States
  • Chris Tonn, United States
  • Bozi Tatarevic, United States
  • Vojta Dobes, Czech Republic

Get No-holds-barred, take-no-prisoners Automotive News in your Facebook Feed!

Already Liked