Korean automakers Kia and Hyundai have agreed to an estimated $200 million class action legal settlement over claims that many of the companies' cars and SUVs are much too easy to steal.
The settlement, which could cover up to nine million vehicle owners, provides a total of up to $145 million that will be distributed to owners whose vehicles have been stolen to help cover their out-of-pocket losses.
Many of these vehicles lack some of the basic auto theft prevention technology included in most other vehicles, even in those years, according to the Highway Loss Data Institute, an industry group that tracks insurance statistics. The method of theft, which involves the use of a USB cable to start the car, spread through social media, especially TikTok.
The automakers have already taken other steps to try to stem the tide of thefts. They have created a software patch to try to fix the problem. The patch is being installed free of charge on models that need it, with software that requires an actual key in the ignition to turn the vehicle on. The software will also block the car from being started after the doors have been locked using the key fob remote control. The vehicle will need to be unlocked before it can be started.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai and Kia will pay $200 million over car thefts prompted by 'Kia Boyz' TikTok videosHyundai and Kia have announced that they will pay $200 million to settle a lawsuit over vehicle thefts prompted by TikTok videos.
Read more »
Hyundai, Kia agree to $200 million settlement over US car theftsHyundai Motor and Kia Corp agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles, lawyers for the owners and the automakers said on Thursday.
Read more »
Hyundai, Kia agree to $200 million settlement over U.S. car theftsHyundai and Kia agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles.
Read more »
Hyundai, Kia agree to $200 million settlement with customers over car theftsHyundai and Kia say they will compensate owners “who incurred theft-related vehicle losses or damage in addition to reimbursement for insurance deductibles, increased insurance premiums, and other theft related losses.”
Read more »
Hyundai, Kia agree to $200 million settlement over US car theftsHyundai Motor and Kia Corp agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles, lawyers for the owners and the automakers said on Thursday. In February, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles without anti-theft immobilizers to help curb increasing car thefts using a method popularized on TikTok and other social media channels. The settlement covers about 9 million U.S. owners and includes up to $145 million for out-of-pocket losses for consumers who had cars stolen, lawyers for the owners said.
Read more »