Automotive Parts Settlement
Back in 2016 I posted about an Automotive Parts Antitrust Litigation arising out of price-fixing and bid-rigging conspiracies among automotive parts manufacturers. Back then the total recovery fund was about $600M. It then jumped to just over $1 billion. And now there’s even more money for those affected, an extra $183,958,000. This automotive parts settlement has now reached a total of about $1.2 billion. The deadline to file a claim was at the end of 2019, but the court has issued an order extending the claims deadline to June 18, 2020.
This litigation has been going on for years, since 2011. You can check if your vehicle is included here. I assume that most people will qualify as all major makes and models are included in the settlement. Make sure you file a claim if you’re eligible. You can get a check for $100 or more.
Related: See All Settlement Rebates Here
You are part of one or more of the Settlement Classes if, at any time from 1990 to 2019, you:
- bought or leased a qualifying new vehicle in the U.S. (not for resale), or
- paid to replace one or more of the qualifying vehicle parts (not for resale).
In general, qualifying vehicles include new four-wheeled passenger automobiles, vans, sports utility vehicles, crossovers, and pickup trucks.
How Much Do I Get?
Together, the Round 1 through 4 Settlement Funds total approximately $1.2 billion. Payments are expected to be issued to consumers by the end of 2020. The Settlement Administrator will calculate in accordance with the proposed revised Plan of Allocation the amounts awarded to each Class Member who files a valid claim. Below is a summary of how claims will be paid:
- Minimum of $100 for each claimant
- Claims exceeding $100 will be paid $100 plus a pro rata (or proportional) share of the remaining applicable Net Settlement Funds as determined separately for each automotive part (after paying all of the $100 minimum payments).
- If the Net Settlement Funds are insufficient to allow a minimum payment of $100 to each claimant, the amount to be paid to each claimant will be adjusted based on a pro rata basis.
Payments will be based on a number of factors, including at least the number of valid claims filed by all Settlement Class members and the number of (1) qualifying new vehicles purchased or leased or (2) qualifying replacement parts purchased. But most people who have owned a car in the last 30 years will qualify for this Automotive Parts settlement. You can get $100 or more based on the settlement website.
- File claim here
- Rebate: $100 or more.
- Proof of Purchase Required: Yes
- Settlement Pool: $1.2 billion
- Deadline: 6/18/2020
- Read Settlement Details Here