FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns 
Ryan Cohen Rejects GameStop Pay Package, Prepares New eBay Acquisition Plan 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive 
Trump Says Anthropic No Longer Seen as National Security Threat 
US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
Hyundai Motor and Kia are releasing a new software patch that will be available to 8.3 million owners of the brands’ vehicle models. This is a free upgrade and was created after it was revealed on social media that the cars are very easy to steal.
Since this is the case, many car insurance companies have also dropped or refused coverage for some Hyundai and Kia models in certain markets. According to CNN Business, the affected units are some 2015 to 2019 models with turn-key ignitions. These models are said to be twice as likely to be stolen compared to other vehicles released in the same period.
The Highway Loss Data Institute said that the reason why these Hyundai and Kia models are easy to steal is - they do not have the basic technology for auto theft prevention that is common in other vehicles.
Moreover, they were not fitted with electronic immobilizers that mostly rely on a computer chip in the vehicle and in the key that passes on data to confirm that it indeed belongs to the vehicle being opened. If the units have this immobilizer, the car will not move if it does not have the right key.
The issue came to light after some thieves filmed themselves stealing Hyundai and Kia vehicles and then posted them on social media which immediately trended. The U.S. National Highway Traffic Safety Administration said that thefts of these vehicles have resulted in at least 14 crashes with eight deaths.
On Tuesday, Feb. 14, the South Korean car manufacturers announced they created a new software patch to fix the issue. The update was also confirmed by the NHTSA.
"Hyundai is committed to ensuring the quality and integrity of our products through continuous improvement and is pleased to provide affected customers with an additional theft deterrent through this software upgrade," Hyundai Motor America's chief executive officer, Randy Parker, said in a press release. "We have prioritized the upgrade's availability for owners and lessees of our highest-selling vehicles and those most targeted by thieves in order for dealers to service them first."
Photo by: Paramraj Singh/Unsplash
