$200 Million Provided For Hyundai, Kia Lawsuit Settlement— See Who Qualifies!

$200 million will be provided for the settlement of the Hyundai Kia lawsuit over rampant car thefts. Reports say the settlement will include around 9 million owners of the Korean vehicles in the U.S.

A lawsuit filed against Hyundai Motor and Kia Corp. accused the Korean automakers of rampant car thefts in the U.S. Fortunately, on May 18, the lawyers for the automakers and the victims agreed to a settlement over the Hyundai Kia lawsuit worth $200 million.

An article in NBC News states that the Hyundai Kia lawsuit settlement will include 9 million owners of the Korean vehicles in the U.S. The Korean automakers added that they will reimburse owners who incurred losses or damage due to theft, along with the increase in insurance premiums and deductibles.

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Other Hyundai Kia Lawsuit Settlement Reimbursements

According to an article in The Guardian, the Hyundai Kia lawsuit settlement will also include up to $145 million in out-of-pocket expenses spent by the owners who had their cars stolen. In February, the Korean automakers also reportedly offered software upgrades to 8.3 million vehicles. These vehicles include those without anti-theft immobilizers to help reduce the increasing number of car thefts.

Nonetheless, if a vehicle cannot adjust to security software upgrades, the Hyundai Kia lawsuit settlement will offer up to $300 to be able to purchase steering wheel locks and other devices that will prevent rampant theft.

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