• 23-DEC-2013

Kia Motors America Agrees to Resolve Litigation Pertaining to Restatement of Fuel Economy Ratings

Kia Motors America (KMA) today announced a proposed settlement of disputes that were raised by current and former owners and lessees of vehicles affected by the automaker's November 2012 restatement of fuel economy ratings. The adjustment affected approximately 300,000 2011-13 model year Kia vehicles. While today's proposed settlement agreement is valued at up to approximately $185 million, the final number will be determined by the number of customers that elect to participate in one of the settlement's lump-sum payment options or remain in the lifetime reimbursement program KMA introduced at the time of the restatement, which reimburses based on actual fuel expenses.