After many years of scrutiny from US investigations regarding engine fires, automakers Hyundai and Kia have managed to assemble a payout for owners, worth more than $750,000 million. The
In case you might have missed it, the vehicles involved in this particular settlement are Hyundai models Sonata, Santa Fe Sport, Santa Fe, and Tucson, manufactured between 2011 and 2019. The Kia models involved are the Sportage, Sorento, and Optima, also manufactured between 2011 and 2019. It is important to note that this does not include every vehicle in every model for every year of the recall, for some models it pertains to only a few years. However, in all, 2.3 million Hyundai and 1.8 million Kia vehicles—with either 2.0 or 2.4 Liter engines—have been recalled out of concern for engine fire risk.
Previously, the auto group had recalled 1.7 million automobiles out of concern for this issue.
In all, the automaker(s) have set aside $760 million, in cash, to aid in the reimbursement of repair and other related expenses. In addition, these cash settlements are aimed at covering compensation for any past trade-ins and sales that could have taken place in relation to repairs among owners and lessees. Finally, Hyundia has outlined four other areas of compensation/remediation, outside of the cash settlement, aimed at helping those who have been affected by the recall.
Hyundia Motor America chief legal officer Jerry Flannery commented, “This settlement acknowledges our sincere willingness to take care of customers impacted by issues with this engine’s performance and recognizes the many actions we are already taking to assist our customers.”