The Hyundai-Kia Class Action Lawsuit addresses issues stemming from certain car models manufactured without an engine immobilizer, a key security feature that prevents ignition without the correct key. This article provides the latest updates on the settlement payment amount, dates, and eligibility for the lawsuit.
Hyundai-Kia Class Action Lawsuit 2024
The class action lawsuit against Hyundai-Kia was filed in response to a wave of thefts fueled by viral social media videos showing how to bypass the ignition system using USB cables and screwdrivers. The lawsuit highlights that certain Hyundai and Kia models sold in the USA between 2011 and 2022 lacked engine immobilizers, making them vulnerable to theft.
Hyundai-Kia Class Action Lawsuit Settlement
Hyundai-Kia, a prominent South Korean automobile manufacturer, agreed to a settlement to address the issue. The settlement amount is between $80 and $145 million, aimed at compensating affected vehicle owners. The settlement includes:
- Enhanced security measures and upgraded software for the engine models.
- Reimbursement for expenses and losses related to theft.
Hyundai-Kia Class Action Lawsuit Payment Amount
The compensation for owners of affected Hyundai-Kia vehicles is broken down as follows:
- Vehicle Theft: 60% of the black book value if the vehicle is lost due to theft.
- Damage from Theft Attempt: 33% or $3,375 of the damage cost per theft incident.
- Towing and Penalties: Up to $250 for losses incurred due to towing or penalties related to the theft.
- Insurance Deductibles: $375 for insurance deductibles if a loss occurs due to a theft attempt.
It’s important to note that these payment amounts may vary, so owners should stay updated through the official lawsuit website.
Hyundai-Kia Class Action Lawsuit Payment Dates
The lawsuit was filed in 2022, with an initial agreement reached in mid-2023. The court approved the preliminary settlement in late 2023, and the final approval hearing is scheduled for July 15, 2024. Claims for compensation must be submitted by January 11, 2024, with the distribution of settlement benefits starting post-January 2024. Dates may fluctuate, so regularly check the official lawsuit portal for updates.
Hyundai-Kia Class Action Lawsuit Eligibility News
Individuals are eligible for the settlement if they purchased any of the following models in the US:
- Kia Forte (2011-2021)
- Kia K5 (2021-2022)
- Kia Optima (2011-2020)
- Kia Rio (2012-2021)
- Kia Sedona (2011-2021)
- Kia Seltos (2021-2022)
- Kia Sorento (2011-2022)
- Kia Soul (2020-2022)
- Kia Sportage (2011-2022)
Affected individuals can receive compensation in two forms: software upgrades and monetary compensation. However, vehicles in the District of Columbia and the fifty states will not receive software upgrades but are entitled to monetary compensation.
For the latest updates and detailed information, regularly visit the official lawsuit website.
The Hyundai-Kia Class Action Lawsuit settlement aims to compensate owners of vehicles that were vulnerable to theft due to the lack of engine immobilizers. With the settlement amount ranging from $80 to $145 million, affected owners can receive enhanced security measures, software upgrades, and reimbursement for theft-related expenses. Ensure you stay informed through the official channels to claim your compensation.
FAQs
1. What is the settlement amount for the Hyundai-Kia lawsuit?
The settlement amount ranges between $80 and $145 million.
2. When is the final approval hearing for the settlement?
The final approval hearing is scheduled for July 15, 2024.
3. How can I check if my vehicle is eligible for the settlement?
Check the official lawsuit website for a list of eligible models and detailed information.