2013 Used 3.3l V6 24v Automatic Front Wheel Drive Sedan on 2040-cars

Auto blog

Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.

Hurricane Sandy cost automakers 15,000 vehicles, may have ruined up to 200k

Hurricane Sandy was the largest Atlantic storm in US history, and its total economic impact is just now coming into view. According to Automotive News, Toyota, Chrysler, Nissan and Honda are set to scrap around 15,000 new vehicles ruined by the storm. Nissan alone accounts for about 40 percent of those, with 6,000 Nissan and Infiniti models deeded "un-saleable" due to damage. The company saw 56 dealerships shuttered due to the storm, but 51 of those have since reopened.
Toyota, meanwhile, had some 4,000 vehicles at its Newark port facility, and of those, 3,000 may be scrapped. An additional 825 were dealer inventory when they were ruined. Honda and Acura dealers are reportedly sending 3,440 vehicles to the salvage yard. By comparison, Chrysler weathered the storm fairly well with 825 units destroyed, while Hyundai suffered only 400 lost units and Kia scrapped around 200.
As you may recall, Fisker also suffered some losses, and Automotive News reports the manufacturer saw 320 Karma models damaged beyond repair. Ford and General Motors have yet to come up with estimates, and no automaker has commented on the full cost of replacing the vehicles.

Hyundai NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.