UPDATE 1-Hyundai, Kia propose settlement of US fuel economy lawsuits

Newswire

DETROIT, Dec 23 (Reuters) - U.S. units of South Korean sister companies Hyundai Motor Co and Kia Motors Corp on Monday said they reached an agreement to pay a total of $395 million to settle lawsuits filed by owners of cars affected by the companies' overstatements of fuel economy ratings. The agreement would affect American owners of about 600,000 Hyundai and 300,000 Kia vehicles from the 2011 to 2013 model years. In November 2012, the two ...

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