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Korean automaker Hyundai, Kia agrees to record U.S. settlement for mileage fraud

Hyundai Motor Co. and its affiliate Kia Motors Corp. has agreed to a $350 million settlement with the U.S. government related to charges the Korean automaker overstated the fuel efficiency of its vehicles. The settlement is being touted by government officials as the largest of its kind. The settlement comes after an investigation determined Hyundai-Kia had overstated the mileage figures on an estimated 1.2 million of its 2012 model vehicles. This latest settlement compensates the U.S. Environmental Protection Agency (EPA), U.S. Department of Justice, and the California Air Resources Board. The penalties were levied under the Clean Air Act. In ... Read More