Equities

Reuters first to report Hyundai shares skid as U.S. prosecutors probe Hyundai car recalls

Reuters first to report Hyundai shares skid as U.S. prosecutors probe Hyundai car recalls

Reuters was first to report that Hyundai Motor and affiliate Kia Motors were being investigated by U.S. prosecutors over whether they had properly conducted vehicle recalls in the United States. News of the probe helped send shares in the South Korean automakers tumbling 5 percent, with Hyundai stock hitting a nine-year low. The investigation relates to the recall of nearly 1.7 million vehicles in 2015 and 2017 in the United States over an engine failure that increases the risk of a crash.


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