Hyundai Motor Co's admission that it overstated fuel economy
claims on several of its top-selling cars has the industry worried,
with speculation rife among executives and analysts at the Los Angeles auto show that more automakers may have to do the same.
Four weeks ago, Hyundai and its affiliate Kia Motors Corp conceded that they overstated the fuel economy by at least a mile per gallon on more than 1 million recently sold vehicles.
"I think we might see more of this," said Jake Fisher, the head of automotive testing at Consumer Reports. "There are other vehicles that don't really stack up to the EPA estimates."
Hyundai, which had centered marketing campaigns on superior fuel economy, says that so far its US sales have not been affected by the admission. But it has had to implement a compensation campaign that Moody's Investors Service estimates could cost them $100 million a year until the cars are scrapped. It also faces lawsuits over the matter.
ravi kumar /pgdm 1st
Four weeks ago, Hyundai and its affiliate Kia Motors Corp conceded that they overstated the fuel economy by at least a mile per gallon on more than 1 million recently sold vehicles.
"I think we might see more of this," said Jake Fisher, the head of automotive testing at Consumer Reports. "There are other vehicles that don't really stack up to the EPA estimates."
Hyundai, which had centered marketing campaigns on superior fuel economy, says that so far its US sales have not been affected by the admission. But it has had to implement a compensation campaign that Moody's Investors Service estimates could cost them $100 million a year until the cars are scrapped. It also faces lawsuits over the matter.
ravi kumar /pgdm 1st
Really nice and very effective post about claims. thanks for sharing it with us. keep it up.....
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