Hyundai Motor America and Kia Motors America have agreed to pay as much as $395 million to settle class action lawsuits filed after the Korean automakers overstated fuel economy ratings on about 900,000 vehicles sold in the U.S. Hyundai’s share will be as much as $210 million while Kia will have to pay up to $185 million, according to statements issued by the companies. The settlements must still undergo court review, expected early next year. The lawsuits were filed after the companies disclosed in November of 2012 that approximately 600,000 Hyundais and 300,000 Kias from the 2011, 2012 and 2013 model years were sold with EPA fuel economy ratings that weren’t accurate. The U.S. EPA relies on testing results provided by car companies. At the time of the announcement, Hyundai and Kia officials apologized blaming flawed internal testing procedures for the overstatements. Eight models were affected and most consumers say the combined MPG ratings of their cars fall by one or two miles per gallon.
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