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Lawsuits Brought by Customers to Hyundai and Kia Total over $395 Million
Korean automakers Hyundai Motor Co. and the Kia Motors Corp. have agreed to settle lawsuits brought by customers that total over $395 million. According to Bloomberg News, the lawsuits allege that the companies, Hyundai and Kia, overstated fuel-economy ratings. The Ford Fusion and the C-Max hybrids have also faced criticism, being noted in Consumer Reports magazine as falling short of the high mileage promises of hybrids.
Customers who purchased the 2011 to 2013 model-year vehicles who have been affected by the ratings have been told in a statement by Hyundai’s U.S. unit that it will make payments totaling as much as $210 million in restitution. According to news.com.au, the companies have offered to make annual payments to owners.
Jessica Caldwell who is an an analyst for Edmunds.com, a vehicle pricing and data service in Santa Monica, California, reported that While the Hyundai-Kia issue “is more of a footnote now, fuel economy is important to consumers. They want to know the mileage figures claimed are real.”
Hyundai and Kia are South Korea’s largest and second-largest automakers. The two companies faced lawsuits after they acknowledged in November that they had overstated the fuel economy of some of their vehicles.
The Detroit News reported that both of the auto companies, the Hyundai Motor Co. and the Kia Motors Corp have agreed to address complaints, including the requirement to return to a dealership for mileage verification. The proposed settlement will resolve more than 50 lawsuits filed across the country to address the issue.
Image Credit: www.bloomberg.comLawsuits Brought by Customers to Hyundai and Kia Total over $395 Million by Jaan