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S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
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Can Netflix Stock Continue Into All-Time Highs After Earnings?
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
These are the Top 4 Stocks for Buybacks in 2024
Can Netflix Stock Continue Into All-Time Highs After Earnings?

Kia recalling 295,000 vehicles due to risk of engine fires

DETROIT (AP) — Kia is recalling nearly 295,000 vehicles in the U.S. because the engines can stall or catch fire.

The recall comes just a week after Kia and affiliated Korean automaker Hyundai were fined by the U.S. government for allegedly delaying recalls.

The recall covers certain 2012 and 2013 Sorento SUVs, 2012 through 2015 Forte and Forte Koup cars, and 2011 through 2013 Optima Hybrid cars. Also included are 2014 and 2015 Soul SUVs and 2012 Sportage SUVs.

Kia says in documents posted Saturday by the U.S. government that no manufacturing defect has been found, but it's recalling the vehicles to mitigate any risk of fire.

The recall comes after the National Highway Traffic Safety Administration began investigating Kia and Hyundai engine fires in 2019. The agency opened the probe after the nonprofit Center for Auto Safety filed a petition seeking the investigation. When the inquiry began, the agency said it had owner complaints of more than 3,100 fires, 103 injuries and one death.

Kia will notify owners starting Jan. 27. Dealers will inspect the engines for fuel or oil leaks and replace them if necessary. The company also is developing a knock sensor software update.

Last week, the NHTSA announced that Kia and Hyundai must pay $137 million in fines and for safety improvements because they moved too slowly to recall more than 1 million vehicles with engines that can fail. The fines resolve a three-year government probe into the companies’ behavior involving recalls of multiple models dating to the 2011 model year.

Kia must pay $27 million and invest $16 million on safety performance measures. Another $27 million payment will be deferred as long as Kia meets safety conditions, the NHTSA said.

Kia denied the U.S. allegations but said it wanted to avoid a protracted legal fight.

Engine failure and fire problems with Hyundais and Kias have plagued the companies for more than five years.

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