Lawyers for the owners express that the settlement covers roughly nine million U.S. owners. It also includes up to $145 million for out-of-pocket losses for consumers who had cars stolen.
In addition, the Korean automaker reported in February that 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 platforms. They will also compensate owners “Who incurred theft-related vehicle losses for damage in addition to reimbursement for insurance deductibles. Increased insurance premiums, and other theft-related losses.”
The Korean manufacturers will provide consumers with up to $300 for steering wheel locks and other theft deterrence or prevention tools. Especially, if their vehicles can’t accommodate security software upgrades.
According to Steve Berman, a lawyer for owners, “The settlement will provide benefits as soon as possible to those who have experienced out-of-pocket losses.”
According to officials, TikTok videos demonstrating how to steal automobiles without push-button ignitions and disable anti-theft equipment have resulted in at least 14 documented collisions and eight fatalities in the United States.
Owners of Hyundai or Kia vehicles from 2011 through 2022 model years with a conventional “insert-and-turn” steel key ignition system are covered by the settlement. It includes payouts for vehicle total losses up to $6,125, auto and personal property damage up to $3,375, and costs associated with insurance.
The settlement also covers additional related costs not covered by insurance, such as car rental, taxi costs, or other transportation charges.
Owners will be reimbursed for towing fees, stolen automobiles involved in accidents or never found, and payments for tickets or other fines or penalties associated with a stolen vehicle.