Usually the term "Black Friday" is used to describe the massive shopping on the day after Christmas, with many businesses selling enough to make a profit for the year (and being the black)...or not.
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| The Montgomery Hyundai Plant |
But Hyundai is using it to announce settlement that will cost the company at least $94-Million, and perhaps as much as $140-Million.
It is a settlement of engine problems with the ( 2013-2014 Santa Fe, assembled at the Montgomery* Georgia Kia plant).
It also covers the 2011-2014 Sonata which were assembled here in Montgomery:
Hyundai will pay a cash penalty of $54 million, make investments of $40 million to improve its safety operations and be subject to a possible deferred payment of $46 million dependent upon Hyundai’s compliance with a NHTSA Consent Order. The investments in its safety operations include building a safety field test and inspection laboratory in the U.S. and implementing new IT systems to better analyze safety data and identify potential safety issues.
*The Santa Fe was originally made in the Montgomery plant, but there was a gap when production was move to the Georgia Kia plant. and that included the two years affected by the settlement.
The Sonata has been built at the Montgomery plant since 2006, including the 2011 - 2014 years impacted by the settlement.
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