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Friday, October 28, 2016

Hyundai And Kia Agree To Pay $41.2 Million To Settle Fuel Economy Saga

#Hyundai and #Kia have agreed to pay $41.2 million to settle a state's attorney probe into its fuel economy saga dating back four years, reports the Wall Street Journal.

In November 2012, the two companies altered the fuel economy ratings of over 1 million 2011-2013 models in the United States, dropping their fuel economy by one to two miles a gallon.

The latest settlement closes the door on investigations from 33 states and the Attorney General from Washington D.C. It also comes two years after the South Korean automakers paid a $300 million penalty for overstating fuel efficiency claims. Additionally, almost $400 million were paid by the companies to settle a class-action lawsuit regarding its mileage claims.

At the time, Hyundai models affected were the Elantra, Genesis, Azera, Accent and Veloster, while Kia's which had their fuel economy ratings altered included the Sportage, Optima HEV, Rio and Sorento.


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