Hyundai Motor America and Kia Motors America have entered into an agreement to resolve class action litigation with owners of certain vehicles equipped with Theta II gasoline direct injection (GDI) engines. This agreement will provide various cash compensation options, lifetime warranties, free inspection and repair of the covered engines, and installation of a software update Hyundai and Kia introduced after the case was filed to enhance safety and address this engine’s performance. It also provides additional remedies to address engine concerns and assist customers with these vehicles.

Vehicles in the settlement include 2.3 million Hyundai (2011-19 Sonata, 2013-18 Santa Fe Sport, 2019 Santa Fe, and 2014, 2015, 2018, and 2019 Tucson) and 1.8 million Kia (2011-19 model year Sportage, Sorento and Optima) vehicles with 2.0-liter and 2.4-liter GDI engines.

Terms of the settlement include:

  • Cash reimbursement for certain past repairs and related expenses, such as towing and rental cars;
  • Cash compensation for certain past trade-ins, sales, and in lieu of certain repairs;
  • Free inspection and repair or replacement of damaged engines;
  • Lifetime warranty coverage for short block assembly repairs for original and subsequent owners;
  • Free installation of the knock sensor detection system software update;
  • Various goodwill compensation for customers inconvenienced by previous lengthy engine repair times, denied warranty coverage, and vehicle loss of value, among other provisions.

Ford Announces Dividend

October 13, 2019

The Board of Directors of Ford Motor Company declared a fourth quarter regular dividend of $0.15 per share on the company’s outstanding Class B and common stock.

The fourth quarter dividend is unchanged from company dividends paid each quarter since 2016.

The fourth quarter dividend is payable on Dec. 2, to shareholders of record at the close of business on Oct. 22.

Kia Motors America announced September sales of 44,619 units, led by the Sorento, Sportage and Optima models. Kia sales are up 2.6-percent compared to the first nine months of 2018 as demand for Telluride – with 5,049 units sold in September – continues to outpace model supply.
“Kia outperformed the industry through the first three quarters of 2019 thanks to the continuing popularity of Telluride and the strong September performances of the Sorento, Sportage and Optima models,” said Bill Peffer, vice president, sales operations, Kia Motors America. “With Kia’s steady stream of new and refreshed models launching over the coming months, we’re confident the positive momentum and increased brand consideration will continue into the new year.”

Chevrolet topped the auto industry in MBLM’s Brand Intimacy 2019 Study, which is the largest study of brands based on emotion.

Brand Intimacy is defined as the emotional science that measures the bonds formed with different brands during use. Chevrolet was followed by Harley-Davidson and Ford. The remaining brands in the top 10 were: Mercedes, BMW, Jeep, Toyota, Honda, GMC and Audi.

Chevrolet ranked No. 1 among both women and men. It was also the top brand among consumers with incomes under $100,000.

Other highlights from the report included:  Honda ranked  No. 1 for those making over $100,000; Jeep was the top brand for millennials, whereas older consumers preferred Harley-Davidson;   BMW and Jeep dropped in the industry rankings since last year, while Harley-Davidson and Ford improved their position.

Letgo announced the addition of 12 auto inventory, marketing and live chat partners to its letgo PRO platform. New integrations with V12, AutoSweet, TapClassifieds, DealerCenter, Dealer Car Search, Goxee Dealer Software, KGI Dealer Solutions, Motorcar Marketing, Auction123, Wayne Reaves Software and HomeNet enable U.S. car dealers to automatically list and manage their inventory - and drive direct sales - on letgo through tools already in use. At the same time, a new partnership with live chat platform Gubagoo makes it simple for dealers and shoppers to chat 24/7 in real-time.

Page 1 of 6

Trending News