Business, Politics & Money
6,209 Reviews & Articles | 40,177 News Posts

Hyundai offers $54.3 million settlement in fuel economy rating case

Hyundai offers settlement worth over $54 million to end legal saga over misstated fuel efficiency claims (KRX:005380)

| Business, Politics & Money News | Posted: Aug 12, 2014 12:03 pm

Hyundai has been in some legal trouble over inflated claims of fuel efficiency for its Santa Fe SUV. The automaker has offered a large settlement and an apology for inflating the fuel economy numbers in an attempt to settle a suit against it. The same suit targeted five other carmakers as well.

 

TweakTown image news/3/9/39610_3_hyundai_offers_54_3_million_settlement_in_fuel_economy_rating_case.jpg

 

Hyundai has offered in the settlement a total of $54.3 million, which would give each customer who purchased a diesel-powered Santa Fe SUV $388.12 for extra fuel costs and inconvenience of dealing with the issue. The money will only be paid out to owners who purchased in South Korea since May 2012.

 

Hyundai says that it will revise the fuel efficiency of the diesel Santa Fe to 32.5 mpg, or 13.8 kilometers per liter from the original 14.4 kilometers per liter. Hyundai will have to adjust the fuel efficiency on about 140,000 units, over 1700 owners filed suit against Hyundai over fuel efficiency.

NEWS SOURCES:Online.wsj.com

Related Tags

Further Reading: Read and find more Business, Politics & Money news at our Business, Politics & Money news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Business, Politics & Money News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases