Hyundai Motor Co. has agreed to settle several suits centered on the fuel economy of several models of its cars.
In October 2012, Hyundai—along with its affiliate Kia Motors Corp.—admitted it had overstated the fuel economy on some of its cars. And in early November, some of the automakers’ customers responded with a lawsuit.
Yesterday, Hyundai said it plans to settle those suits. Although it did not disclose a settlement amount, the company did say a lump sum distribution would be part of the settlement agreement.
Kia is still deciding whether to join Hyundai in the settlement.
More details about the agreement are expected during a hearing to discuss the settlement. That hearing is scheduled for tomorrow.
Hyundai and Kia admitted to the overstatement of the fuel economy on some of their cars only after the Environmental Protection Agency (EPA) conducted a probe into the statements. The EPA found errors in the mileage ratings of 13 Hyundai and Kia vehicles from model years 2011 to 2013.
Both companies have already agreed to compensate customers for the added fuel costs.
Read more about this proposed settlement on Thomson Reuters.
For more InsideCounsel stories about lawsuits over gas mileage, see: