Receive the most recent information and data about the Hyundai-Kia Class Action Lawsuit 2024 Settlement Payment Amount, Dates, and Eligibility News. Between the years 2011 and 2022, Kia and Hyundai produced their models without the use of an engine mobilizer.
It is an essential safety mechanism that prevents a vehicle from being started without the appropriate key, and it is a critical security component. On the other hand, several different social media sites have presented several different ways to circumvent the ignition mechanism.
When the seriousness of the problem was taken into consideration, a class action lawsuit was launched against Hyundai Kia in connection to the engine immobilizers that were installed in the car. This article will provide a concise summary of the settlement and payments that were made in a class action lawsuit that was filed against Hyundai-Kia.
Hyundai-Kia Class Action Lawsuit 2024
The city of New York (NYC) has initiated legal action against Hyundai-Kia, which is also a subsidiary of the Hyundai Motor Group. It is an automotive manufacturer based in South Korea. Along with several other localities, the case was submitted by the plaintiff.
Taking into consideration the wave of thefts that were sparked on social media platforms about the flaw that rendered some of the automobiles prone to theft, the complaint was brought based on this consideration. Several films became popular on social media sites that demonstrated how the ignition of the vehicles could be accomplished by using screwdrivers and USB connections.
Several Hyundai-Kia automobile models were marketed in the United States of America without the engine immobilizer, and the engine of the automobile could not be started without the real key. On the other hand, several individuals became popular with their techniques of ignition via films, which made auto theft more susceptible to that person.
When New York City became concerned about the severity of the damage, it decided to pursue legal action against the manufacturing business.
The vehicle firm, on the other hand, has been given an agreement by the court for the settlement, and if the court gives its final permission, then the settlement amount will be distributed to the consumers.
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Overview of Hyundai-Kia Class Action Lawsuit 2024
| Detail | Information |
| Topic | Kia-Hyundai Class Action Lawsuit 2024 |
| Governing Body | Federal Government |
| Category | Finance |
Agreement reached in the class action lawsuit between Hyundai and Kia
A significant vehicle manufacturing business known as Hyundai-Kia has decided to stop producing automobiles that are equipped with key ignition. According to the terms of the settlement, the corporation is required to contribute amounts ranging from $80 million to $145 million to compensate the owners who were impacted.
As well as restitution for expenditures and damages that are associated with the theft, the owner of the vehicle who is eligible to receive it may get increased security and updated software for engine models.
Furthermore, to improve the anti-theft security of the cars, the owners will be given a free software update to install on their motor vehicles.
Settlement Amount details for the Class Action Lawsuit Against Hyundai-Kia
the purpose of this is to remedy the financial effect that the absence of an engine mobilizer has had on the owners of Hyundai-Kia automobiles. The following is a representation of the breakdown of compensation:
- If the ownership of the car is lost as a result of the theft, sixty per cent of the black book value will be paid.
- Each theft incident will result in a payment of $3,375, which is equivalent to 33 per cent of the total cost of damage if the attempted theft causes the damage.
- The amount of compensation that will be provided is up to $250 if the loss occurs as a result of the towing, fines, or transportation that arises from the theft.
- If it turns out that the attempted theft was the cause of the loss, then the insurance deductibles will be paid out for $375.
There is a possibility that the amount of the payment may change. Thus, people need to stay informed by visiting the official website of the litigation.
When payments are due for the Hyundai-Kia Class Action Lawsuit
In the middle of 2023, Hyundai and Kia came to an initial agreement over their case, which had been filed in 2022. On the 15th of July in 2024, the court will hold the final approval hearing for the preliminary settlement, which the court authorized in late 2023.
The eleventh of January 2024 will be the last day that claims compensation will be filed for the members of the class who are entitled to it. Also, the processing of claims and the distribution of settlement benefits will begin after January 2024. It is important to note that the date may change, at which point the official litigation website will be updated.
Eligibility Criteria for a Class Action Lawsuit Regarding Kia-Hyundai
Additionally, if you are a resident of the United States and you bought any of the models that we mentioned on the list, you are eligible to receive the settlement amount.
| Year | Car Model |
| 2011-2021 | Kia Forte |
| 2021-2022 | Kia K5 |
| 2011-2020 | Kia Optima |
| 2012-2021 | Kia Rio |
| 2011-2021 | Kia Sedona |
| 2021-2022 | Kia Seltos |
| 2011-2022 | Kia Sorrento |
| 2020-2022 | Kia Soul |
| 2011-2022 | Kia Sportage |
That the Kia-Hyundai Class Action Lawsuit does not make any claims for thefts that have occurred in the past or will occur in the future is a crucial point to keep in mind.Â
With the purchase and installation of the glass shattering alarm or theft prevention devices, customers who have previously purchased a starring well lock from the firm, either via the dealer or by law enforcement, are eligible to get $250 for each car. This is in addition to the purchase of the lock.
Conclusion
To avoid a lengthy legal dispute and to provide assistance to individuals who have been impacted, the parties engaged in a lawsuit have reached an agreement to settle. A software update and monetary compensation are the two forms of compensation that are available.
Everyone cannot have upgraded software. You are eligible to receive up to $375 in insurance deductibles and increased premiums as a result of theft coverage if you have had a theft or attempted theft that meets the criteria.
| Home Page | https://baltimoreoutloud.com/wp/ |
By buying and installing a glass breakage alarm or other theft security systems, customers have the opportunity to receive a maximum of $250 per car.
Individuals who have certain Kia models in the United States of America, including the United States Virgin Islands, Puerto Rico, and Guam, are eligible to submit a claim.
Even though they are not eligible for the software update, some automobiles in the fifty states and the District of Columbia are eligible to receive the funds from the fund.
Calista Embry is a finance journalist who graduated from Johns Hopkins University. She has a passion for writing and researching the impact of finance on social life.