Hyundai, Kia Allocate $412M For False MPG Claims
Korean car manufacturers Hyundai and Kia are spending big money to keep customers happy after the EPA discovered overstated fuel economy claims on several of its cars.
Most recently, Kia announced that it is setting aside $187 million, which pooled with Hyundai’s $225 million makes a whopping $412 million. Both brands promised to continue funding customers with prepaid gas cards to account for the difference in claimed and actual mileage as long as the owners keep their cars.
SEE ALSO: Hyundai, Kia MPG Error Will Cost $100 M: Moody’s
Moody’s Investor Services previously predicted the companies would lose $100 million annually to paying out gas reimbursements.
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Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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