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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 7 sources · 14 days · First seen · Last updated

Hyundai and Kia vehicle theft vulnerability

Overview

Legal and academic scrutiny has intensified regarding vehicle theft vulnerabilities in certain Hyundai and Kia models produced between 2011 and 2022. These models lack engine immobilizers, a security feature that prevents unauthorized starting, allowing theft via simple tools like USB cables.

In the legal sphere, approximately 200 insurance companies in the United States are pursuing a lawsuit seeking over $1 billion from the manufacturers. The insurers are utilizing subrogation to recoup funds paid to policyholders for stolen or damaged vehicles. A Ninth Circuit Court of Appeals decision recently allowed these claims to proceed after a lower court's dismissal was overturned.

Concurrently, researchers from UCLA, USC, and Boston College have released a study predicting that theft rates for these vulnerable models in Los Angeles will remain elevated for decades. The study suggests that because these vehicles circulate through the used car market, theft rates may not return to negligible levels until between 2043 and 2050. The research notes a socioeconomic disparity, as lower-income areas are expected to experience higher theft rates as older, at-risk models move through the used market.

Entities

Los Angeles · Ninth Circuit Court of Appeals · Hyundai Motor Company · Hyundai · Kia

Timeline

  1. [CRIME] 2 sources
    Hyundai and Kia vehicle thefts projected to persist through 2042

    A UCLA-led study forecasts that thefts of vulnerable Hyundai and Kia models in Los Angeles will remain elevated until at least 2042 due to the long-term circulation of vehicles lacking engine immobilizers.

  2. [BUSINESS] 5 sources
    Insurers sue Kia and Hyundai for over $1 billion over theft vulnerability

    Around 200 insurers are suing Kia and Hyundai for over $1 billion, alleging that a lack of engine immobilizers in certain 2011-2022 models led to widespread vehicle thefts.

Sources

autoconnectedcar.com · bitfinanzas.com · cafenegroportal.com · laopinion.com · newmoney.gr · thedrive.com · zetatijuana.com