Hyundai and Kia May End Up Paying Multimillion-Dollar Compensation to Customers

Hyundai and Kia May End Up Paying Multimillion-Dollar Compensation to CustomersA lawsuit was filed against Hyundai and Kia for overstating fuel economy ratings for 13 car models, reports the Chicago Tribune. Over 20 plaintiffs want reimbursement for the lost sale value of the cars because their fuel economy is lower than the automakers claimed. Damages could go as high as nearly $800 million, however, with the help of seasoned business lawyers the compensation could be significantly lower.

The Environmental Protection Agency keeps account of fuel economy ratings produced by automakers. It launched an investigation into Hyundai’s fuel economy claims after receiving complaints from consumers about mileage estimates. The EPA discovered that the estimates were incorrect for several Hyundai and Kia models. Both automakers have to change the old labels and place new ones reflecting the corrected mileage estimates on vehicles currently on sale.

Hyundai and Kia admitted that they had exaggerated fuel economy ratings for about 35% of the 2011-13 model-year vehicles. The car companies said that the problem was due to “procedural errors” at joint testing operations in South Korea and gave an apology to the car owners. The companies are planning to give the vehicle owners special debit cards as compensation and reimburse the owners based on the fuel price and on the miles they have driven. Also, the cards will contain a 15% bonus.

If you are going through a business dispute, you should make sure you are prepared to defend your business and enlist the services of an experienced Illinois business attorney. It may be possible to reach a settlement that is satisfactory to all parties. Contact a highly skilled Illinois business attorney at your earliest convenience.