SYS-CON MEDIA Authors: Ava Smith, Scott Bampton, Elizabeth White, Glenn Rossman, Pat Romanski

News Feed Item

Hyundai Reaches Agreement in Canadian Class Action Litigation Following Restatement of Fuel Economy Ratings

Auto Company Pleased to Secure an Agreement for Cases and Provide Affected Owners with Choice of Alternative "Lump Sum" Reimbursement

MARKHAM, ON, Jan. 27, 2014 /CNW/ - Hyundai Auto Canada Corp. today announced that it has entered into an agreement with plaintiffs representing current and former owners and lessees of vehicles affected by the auto company's November 2012 restatement of fuel economy ratings. The adjustment affected approximately 130,000 Hyundai 2011-2013 model year vehicles, increasing their combined city/highway fuel consumption by 0.2-0.8 L/100km. While today's agreement is valued at up to $46.65 million in cash compensation plus other available options, that number is dependent on how many customers elect to participate in the settlement's one-time lump sum payment option or remain in the existing reimbursement program Hyundai introduced at the time of the restatement.

"We are pleased with the proposed settlement, which we believe once again demonstrates Hyundai's commitment to taking care of its customers," said Faithlyn Hemmings, Senior Legal Counsel at Hyundai Auto Canada Corp.

At the time of the restatement, Hyundai provided a reimbursement program to cover the additional fuel costs associated with the rating change - plus a 15 percent premium in acknowledgement of the inconvenience - to customers for as long as they owned or leased an affected vehicle. Affected owners and lessees are compensated based on their actual kilometers driven and the fuel costs for the region in which they live.

"While customers have responded favorably to the original reimbursement program, today's settlement is designed to provide them with an additional compensation option, again intended to make customers fully whole for Hyundai's fuel economy ratings restatement," said Hemmings.

"Hyundai should be commended for doing the right thing and resolving this issue with its customers.  The fact that a class member is able to choose one of a variety of lump sum payments, or to remain in the reimbursement program, provides real benefits to this large class of customers," said Michael Peerless of Siskinds LLP, the lead plaintiff lawyer involved in the settlement.

Under the terms of the proposed settlement, a single lump sum payment will be provided as an option to the original reimbursement program. The lump sum payments will vary by type of vehicle, and will be reduced for any amounts already received through Hyundai's existing reimbursement program. For example, an individual owner who purchased a new 2012 Elantra would receive a lump sum payment of $361, minus any previous reimbursement payments. Affected Hyundai owners may elect the one-time lump sum cash payment or remain in the auto company's ongoing reimbursement program for as long as they lease or own the affected vehicle; the choice is theirs. Consumers can also elect other options, such as a dealership credit of 150 percent of the lump sum cash payment amount, or a credit of 200 percent of the cash amount toward the purchase of a new Hyundai vehicle.

Courts in Ontario and Quebec are expected to review the agreement for approval in early 2014. Assuming approval is granted, notices will then be provided to all affected customers.

HYUNDAI AUTO CANADA CORP.
Hyundai Auto Canada, established in 1983 and headquartered in Markham, Ontario, is a subsidiary of Hyundai Motor Company of Korea. Hyundai vehicles are distributed throughout Canada by Hyundai Auto Canada and are sold and serviced through 210 dealerships nationwide. Learn more at www.HyundaiCanada.com.

SOURCE Hyundai Auto Canada Corp.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worke...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to mee...
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also te...
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and t...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, E...
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composi...
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / ...