Hyundai, Kia will pay $41.2 million in resolve state mileage claims

Reuters News
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Posted: Oct 27, 2016 1:24 PM

WASHINGTON (Reuters) - Korean carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $41.2 million to resolve a long running investigation by 33 U.S. states over the automakers' 2012 mileage restatements, state attorney generals said Thursday.

In 2014, the automakers were hit with $350 million in penalties by the U.S. government for overstating fuel economy ratings. Under the accord, which involved the sale of 1.2 million cars and SUVs, the car firms paid a $100 million penalty, spent around $50 million to prevent future violations and forfeited emissions credits estimated to be worth more than $200 million. That settlement was on top of $395 million the automakers agreed to pay in 2013 to resolve claims from the owners of the vehicles.

(Reporting by David Shepardson; Editing by David Gregorio)