Hyundai Motor America Inc. and Kia Motors America Inc. said they've reached agreements with customers on claims related to the automakers’ restatement of the fuel economy ratings on a number of vehicles.
The two automakers said last year they were lowering the fuel economy estimates on several 2011-13 model year vehicles in a move estimated to affect some 900,000 combined vehicles.
Hyundai said Monday its settlement agreement would cost about $210 million, a figure that could change depending on whether a consumer opts for a one-time, lump sum payment averaged out to $353, or stays on a debit card reimbursement program for the length of their vehicle ownership.
Kia’s proposed settlement totals about $185 million, with an average lump sum payment of $667.
The courts are expected to rule on the proposed settlements early next year.