>> Shares in Hyundai Motor tumbled on Monday after US authorities announced on Saturday they will probe why airbags failed to deploy in some of the company's vehicles. The investigation follows crashes that reportedly killed four people and injured six, and will review the 2011 Sonata sedan as well as the 2012-13 Forte made by affiliate Kia Motors Corp.
It's left investors fretting about potential recalls for the once popular cars, with the probe encompassing some 425,000 vehicles. Authorities will also determine if any other manufacturers used similar airbag control units. Hyundai Motor shares fell 4.8% as a result, while Kia Motors lost 3.7%. Last month, Hyundai issued a recall for more than 150,000 US Sonatas after incidents of non-deployment were linked to the airbag control unit, but said it didn't have a final fix.
It's the second US investigation into the South Korean duo in less than a year, exacerbating headaches for Hyundai, which in January reported its worst annual earnings in seven years.