On November 2, 2012, Hyundai announced the voluntary adjustment of fuel economy ratings for approximately one-quarter of our 2011-13 model year vehicles. In order to compensate affected customers, Hyundai provided a lifetime reimbursement program to cover the additional fuel costs associated with the rating change plus a 15 percent premium in acknowledgement of the inconvenience.
The majority of customers affected by the ratings restatement enrolled in our reimbursement program and are being compensated based on their actual mileage and the fuel costs for the region in which they live. While customers responded favorably to the reimbursement program, Hyundai through a recent class action settlement offered the option of a single lump sum cash payment for those customers who would rather not return to a dealership to have their mileage verified. So, through either the one-time lump sum payment or original lifetime reimbursement program, customers have the option of being made fully whole for Hyundai’s ratings restatement.
Through our settlement with the government, Hyundai will continue to implement a series of measures including the formation of an independent certification test group to oversee our fuel economy testing, training, data management and reporting. We also will continue to audit our model year 2015-16 vehicles to confirm the accuracy of their fuel economy ratings.