Newspaper article The Record (Bergen County, NJ)

Business Briefing

Newspaper article The Record (Bergen County, NJ)

Business Briefing

Article excerpt

HYUNDAI, KIA TO PAY N.J. $1.6M

TRENTON - New Jersey will receive $1.66 million as part of a multistate settlement with automakers Hyundai and Kia that resolves allegations the two Korean companies misrepresented the fuel economy ratings for some of their vehicles, according to announcement from Attorney General Christopher S. Porrino.

The overall $41.2 million settlement involves 33 states and the District of Columbia and concludes a multistate investigation into the business practices of Hyundai and Kia related to fuel-economy estimate adjustments for certain vehicles of their model years 2011, 2012 and 2013. The fuel-economy estimate adjustments took place at a time when gasoline prices in New Jersey and across the U.S. were especially high.

New Jersey was part of the multistate executive committee that negotiated the settlement with Hyundai and Kia. …

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