Hyundai and its sister company Kia say they'll pay up to $395 million to consumers as part of a proposed settlement over overstated gas mileage. The automakers faced lawsuits after they acknowledged in November that they had overstated the fuel economy of some of its vehicles.
The companies have offered annual payments to owners to cover added costs for gasoline and to acknowledge the inconvenience. They are now putting a number on how much they would offer for another option, a lump-sum payment. Hyundai would pay up to $210 million and Kia up to $185 million. The total value depends on how many consumers opt for the one-time payment. The companies said Monday that the amount varies but would average $353 per Hyundai owner and lessees and $667 for Kia.