Both Hyundai and Kia Canada will offer new forms of compensation to current and former owners and lessees of vehicles affected by the November 2012 restatement of fuel consumption ratings.
In addition to the current program that provides compensation for added fuel costs -- plus an extra 15% for any inconvenience -- the two companies have announced lump-sum payment options.
The proposed cash lump-sum amount varies by vehicle and ownership type, and accounts for previously received compensation. Consumers can also elect other options such as a dealership credit of 150% of the lump sum cash payment amount, or a credit of 200% of the cash amount towards the purchase of a new vehicle.
The adjusted fuel ratings affected approximately 130,000 Hyundai vehicles and 41,000 Kia vehicles from the 2011-2013 model years. The new agreement, pending court approval, is valued at up to $46.65 million and $23 million, respectively.
Sources : Hyundai et Kia
In addition to the current program that provides compensation for added fuel costs -- plus an extra 15% for any inconvenience -- the two companies have announced lump-sum payment options.
The proposed cash lump-sum amount varies by vehicle and ownership type, and accounts for previously received compensation. Consumers can also elect other options such as a dealership credit of 150% of the lump sum cash payment amount, or a credit of 200% of the cash amount towards the purchase of a new vehicle.
The adjusted fuel ratings affected approximately 130,000 Hyundai vehicles and 41,000 Kia vehicles from the 2011-2013 model years. The new agreement, pending court approval, is valued at up to $46.65 million and $23 million, respectively.
Sources : Hyundai et Kia