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Hyundai Motor and Kia Motors have agreed to pay $200 million as part of the settlement for its class-action lawsuit in the United States. The agreement is will waiting for a judge’s approval and will affect owners of around nine million vehicle units.
Hyundai Motor and Kia Motors are settling the lawsuit that was hurled against them due to rampant car thefts in the U.S. The lawyers of the car owners confirmed the settlement on Thursday, May 18. The agreement covers millions of cars and includes up to $145 million for out-of-pocket losses incurred by them for stolen cars.
The South Korean car brands said they would reimburse owners who incurred losses due to thefts or damage related to the issue. The companies will also repay insurance deductibles and increased insurance premiums.
Kia and Hyundai announced in February that they would offer software updates for vehicles that do not have anti-theft immobilizers. This will be carried out to help stop the increasing incidence of car thefts after people posted a method on how to open Hyundai and Kia cars even without keys.
For owners that have vehicles that cannot be fitted with security software upgrades, the companies will give them up to $300 to buy steering wheel locks and other devices that will prevent theft. CNN Business reported that it was also agreed that the installation of the anti-theft software would be done automatically, without the need for the owner to request the service at the official dealers.
"The settlement will provide benefits as soon as possible to those who have suffered out-of-pocket losses," the lawyer of the Hyundai and Kia owners, Steve Berman, said in a statement.
On the other hand, Kia Motors America’s chief legal officer, John Yoon, also commented, “This agreement is the latest step in a series of important actions, in addition to providing a free security software upgrade and distributing over 65,000 steering wheel locks, that Kia has taken to help customers whose vehicles have been targeted by criminals using methods of theft popularized on social media.”
Photo by George Bakos/Unsplash
