HYUNDAI MOTOR RESOLVES MULTISTATE INVESTIGATION OF 2012 FUEL ECONOMY RATINGS RESTATEMENT

October 27, 2016 by Hyundai

FOUNTAIN VALLEY, Calif., Oct. 27 – Hyundai Motor today announced that it has entered into an agreement with the Attorneys General of 33 States and the District of Columbia to resolve their investigation of the automaker's 2012 restatement of fuel economy ratings and related advertising. The adjustment affected approximately one­quarter of Hyundai 2011­13 model year vehicles, reducing their combined city/highway fuel economy by 1­2 miles per gallon (mpg). As part of today's agreement, Hyundai and Kia will pay $41.2 million to settle the States' consumer protection claims and to cover their investigative costs.

Following Hyundai's ratings restatement in 2012, the automaker proactively contacted the state Attorneys General and diligently produced information to a multistate working group regarding the cause of the restatement and demonstrating that affected consumers had been fully reimbursed. It was these discussions with the Attorneys General that ultimately led to today's amicable agreement with 33 states and the District of Columbia. The agreement importantly contains no admission of any wrongdoing or violations of any law.

'Even with our adjusted ratings, we are encouraged that Hyundai continues to lead the automotive industry in fuel efficiency and environmental performance,' said David Zuchowski, President and CEO of Hyundai Motor America.

According to the EPA Fuel Economy Trends Report, Hyundai's adjusted fuel efficiency for the affected model year vehicles is 27.2 mpg for 2011, 28.3 mpg for 2012 and 29.1 mpg for 2013. The Union of Concerned Scientists in 2014 named Hyundai the 'Greenest Automaker,' and later that year noted 'the simple fact is that after all of the adjustments, our analysis still shows that Hyundai has the most efficient fleet of any major automaker.'

'Hyundai recognizes that fuel economy is a consideration in many car­buying decisions, and remains committed to being responsive to customer concerns about our revised fuel economy ratings,' added Zuchowski. Hyundai Motor maintains a dedicated website – www.hyundaimpginfo.com – and owner hotline to provide detailed information about the vehicles involved and reimbursement options for customers.

About Hyundai Motor's Fuel Economy Restatement and Customer Reimbursement Program

On November 2, 2012, Hyundai Motor announced the voluntary adjustment of fuel economy ratings for approximately one­quarter of its 2011­13 model year vehicles, reducing their combined city/highway fuel economy by 1­2 miles per gallon (mpg), and relabeled affected vehicles still in dealer showrooms. In order to compensate affected customers, Hyundai provided a lifetime reimbursement program to cover the additional fuel costs associated with the rating change plus a 15 percent premium in acknowledgement of the inconvenience. The majority of customers affected by the ratings restatement enrolled in the automaker's reimbursement program and are being compensated based on their actual mileage and the fuel costs for the region in which they live. While customers responded favorably to the reimbursement program, Hyundai through a class action settlement in 2013 offered the option of a single lump sum cash payment for those customers who would rather not return to a dealership to have their mileage verified. So, through either the one­time lump sum payment or original lifetime reimbursement program, customers have the option of being made fully whole for Hyundai's ratings restatement.

HYUNDAI MOTOR AMERICA

reimbursement program and are being compensated based on their actual mileage and the fuel costs for the region in which they live. While customers responded favorably to the reimbursement program, Hyundai through a class action settlement in 2013 offered the option of a single lump sum cash payment for those customers who would rather not return to a dealership to have their mileage verified. So, through either the one­time lump sum payment or original lifetime reimbursement program, customers have the option of being made fully whole for Hyundai's ratings restatement.

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HYUNDAI MOTOR AMERICA

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 830 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5­ year/60,000­mile fully transferable new vehicle limited warranty, Hyundai's 10­year/100,000­mile powertrain limited warranty and five years of complimentary Roadside Assistance. Hyundai Blue Link Connected Care provides owners of Hyundai models equipped with the Blue Link telematics system with proactive safety and car care services complimentary for one year with enrollment. These services include Automatic Collision Notification, Enhanced Roadside Assistance, Vehicle Diagnostic Alert, Monthly Vehicle Health Report and In­Vehicle Service Scheduling.