It was filed in the U.S. Central District Court in Los Angeles, and is seeking compensation for lost resale value on the customers Hyundai and Kia models. The suit claims that the compensation program offered by the two Korean companies does not cover the lost value of the vehicles.
“Plaintiffs and the Class have been damaged by Hyundai’s and Kia’s misrepresentations, concealment, and non-disclosure of the incorrect fuel economy numbers, because they were misled into purchasing Hyundais and Kias of a quality different than they were promised, and paying higher fuel costs they would not otherwise have paid,” the suit says.
The $775 million value was conceived through a formula which accounts for the vehicles worth, and the miles driven over the likely economic life of the car.
Despite the false mpg claims, some experts believe that Hyundai and Kia vehicles’ resale value will be unaffected.
[Source: Automotive News]