SEOUL/WASHINGTON—Hyundai Motor and affiliate Kia Motors are being investigated by U.S. prosecutors over whether vehicle recalls were conducted properly, a person said and documents reviewed by Reuters showed.
Shares of the South Korean firms fell on Nov. 22 on worries the probe could lead to fines and more recalls, while industry data showing a sharp drop in China’s passenger car retail sales in the first half of November spooked investors further.
