Bank Repo/below Wholesale on 2040-cars

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Hyundai closes the books on fuel economy litigation

Hyundai-Kia ended up with a lot of kimchi on its face in 2012 when it admitted it had mistakenly exaggerated fuel economy estimates on several 2012 and 2013 model-year offerings like the Hyundai Accent, Veloster and Elantra and Kia Soul. Before the admission a lawsuit had been filed by an entity called Consumer Watchdog, afterward there were "approximately 53" lawsuits filed in federal court that were eventually consolidated into one case in a California Central District court.
The companies apologized profusely and gave customers prepaid gas cards that they could refill with funds for as long as they own their vehicle, as well as perks like free car washes and routine maintenance services. The company has just announced that it has reached a preliminary settlement of the case by adding another method of reimbursement, a lump sum payment that would free drivers from having to go back to the dealership to have their mileage verified for debit card refills.
Assuming the preliminary agreement is approved by the judge, customers could choose the lump sum or the cards. The settlement's value could be as much as $210 million, but the exact number depends on which program plaintiffs choose. On average, affected customers will receive $353. Approval could come in "early 2014," after which Hyundai will notify customers. You'll find more particulars on the potential settlement in the press release below.

Honda readying Veloster-rivaling concept for Beijing?

Maybe the rumors of the CR-Z's death have been exaggerated. Honda has just released the first teaser of a new concept that it plans to debut at the Beijing Motor Show at the end of April. It shows off a sporty looking coupe that looks like the child of a CR-Z and Hyundai Veloster. However, the concept looks to be for the Chinese market, as it's a joint proposal with one of its domestic partners there, Guangqi Honda Automobile.
Unfortunately, we don't have any other details about the concept yet - not even a name. The teaser also doesn't give a very good indication of the car's size. It appears to be roughly the size of a small coupe, and if Honda hadn't already tried the idea with the CR-Z, you could almost see it as a modern CRX, but it could be a little bit larger, too.
In addition to the coupe concept at the Beijing show, Dongfeng Honda will premiere the concept for the next Spirior, which is the foreign version of the Accord. Guangqi Honda will also bring a mid-size SUV and the third-generation Fit. Acura will also be there and will have both the NSX Concept and a model of its powertrain. Scroll down for the full release about everything Honda will show in China.

Facelifted Hyundai Veloster to get new 7-speed DCT, Flex Steer

No matter how you look at it, the Hyundai Veloster is an odd duck. With the vehicle's weird door configuration and styling that kind of looks like a modernized Honda CRX, the model is certainly unlike anything else on the road today. Since spotting one testing earlier this year (pictured above), we know that a refreshed version is on the way eventually, but that car keeps a lot of its secrets hidden under camouflage. New rumors from The Korean Car Blog suggest that the Veloster might receive a few mechanical changes to go along with the updated skin.
Among the biggest rumored tweaks is that the turbocharged model is receiving a seven-speed, dual-clutch gearbox as a replacement for its current, conventional six-speed auto. Another potential change for the naturally aspirated version is Hyundai's Flex Steer system that offers selectable weighting for the electric power steering.
Styling obviously isn't being left alone for the update. The mule testing earlier this year appears to show a new grille and altered bumpers underneath its concealment. The latest rumors suggest that's exactly the case with the possibility of a front end closer in design to the current Genesis, along with HID headlights and a modified hood design to remove the faux heat extractors.