Hyundai, Kia Shares Sink After Record Settlement With U.S.


Einhorn, Bruce [2014], “Hyundai, Kia Shares Sink After Record Settlement With U.S.”, Business Week, New York, 04 de noviembre,

Business Week
Fecha de publicación: 
Martes, Noviembre 4, 2014
Idea principal: 

At a time when rivals are struggling with recalls due to airbag scandal, Korean automaker Hyundai Motor and its affiliate Kia Motors are facing embarrassing headlines that won't do much for their reputations among American consumers. The companies on Monday agreed to pay a record penalty for fudging the statistics displayed in dealer showrooms across the US. Hyundai and Kia will shell out a combined $350 million to settle claims that they tricked customers by overstating fuel economy numbers and understating greenhouse gas emission figures. Perhaps even more worrisome than the American legal challenges is the currency volatility closer to home. Korean automakers are suffering from the renewed currency weakness of Japan, home to many of their toughest competitors.