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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Kia Motors Corporation    A000270   KR7000270009

KIA MOTORS CORPORATION

(A000270)
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Hyundai, Kia Agree to U.S. Consent Orders Over Recalls

11/27/2020 | 05:39pm EST

By Matt Grossman

Hyundai Motor America Inc. and Kia Motors America Inc. have agreed to consent orders with the National Highway Traffic Safety Administration over their handling of recalls related to engine problems, the regulatory agency said Friday.

The combined penalties under the two orders total $210 million. Hyundai's penalty is $140 million, including an up-front payment of $54 million, an obligation to spend $40 million on enhanced safety measures and a $46 million deferred penalty. Kia is subject to a $70 million penalty, comprising an up-front payment of $27 million, an obligation to spend $16 million on safety measures and a deferred $27 million component.

"We value a collaborative and cooperative relationship with the U.S. Department of Transportation and NHTSA and will continue to work closely with the agency to proactively identify and address potential safety issues," said Brian Latouf, Hyundai's chief safety officer.

"We are pleased to be able to direct our attention to improving and enhancing our recall-management processes and our priority remains making things right for our customers," Kia said.

The consent orders relate to the car makers' handling of recalls of more than 1.6 million vehicles with Theta II engines produced in the first half of the 2010s, the NHTSA said. The companies' recalls were untimely, and information the companies provided to the agency contained inaccuracies, it said.

The orders note that the car makers disagreed with the NHTSA's assertions but added that they agreed to the orders to administratively resolve the inquiries.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

11-27-20 1738ET

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI CORPORATION -2.27% 17250 End-of-day quote.8.15%
HYUNDAI MOTOR COMPANY -4.19% 240000 End-of-day quote.25.00%
KIA MOTORS CORPORATION -3.66% 71100 End-of-day quote.13.94%
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Financials
Sales 2020 59 277 B 53,7 B 53,7 B
Net income 2020 1 455 B 1,32 B 1,32 B
Net cash 2020 2 157 B 1,95 B 1,95 B
P/E ratio 2020 19,5x
Yield 2020 1,51%
Capitalization 28 506 B 25 852 M 25 827 M
EV / Sales 2020 481x
EV / Sales 2021 431x
Nbr of Employees -
Free-Float 60,4%
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Technical analysis trends KIA MOTORS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Average target price 74 142,86 KRW
Last Close Price 71 100,00 KRW
Spread / Highest target 56,1%
Spread / Average Target 4,28%
Spread / Lowest Target -46,6%
EPS Revisions
Managers and Directors
NameTitle
Ho-Sung Song President, Co-Chief Executive Officer & Director
Jun-Young Choi Co-Chief Executive Officer, Director & VP
Woo-Jung Joo Director, Senior Managing Director & Head-Finance
Eui-Sun Chung Senior Vice Chairman
Sang-Koo Nam Independent Director
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