Toyota, Subaru, Mazda, BMW to Pay $553 Million in Takata Airbag Settlement

Toyota Subaru Mazda and BMW reached a proposed settlement that would compensate owners of 15.8 million vehicles for economic
Toyota, Subaru, Mazda, BMW to Pay $553 Million in Takata Airbag Settlement
Author

20 May, 2017

The settlement addressed claims from the owners of nearly 16 million recalled vehicles, and will resolve economic losses of vehicle owners and lessees, including reimbursing them the cost of replacement vehicles while waiting for the airbags to be fixed, the Telegraph reports.

Takata inflators, which may explode with extreme force and release metal shrapnel inside vehicles, are blamed for at least 16 deaths and over 180 injuries worldwide. By 2019, automakers expect to recall 64-69 million USA inflators in 42 million vehicles.

Subaru Corp., Mazda Motor Corp. and BMW will reimburse out-of-pocket expenses, provide loaners to some vehicle owners and set up an outreach program to increase participation in recalls, according to court papers filed Thursday.

Millions of auto owners whose vehicles were outfitted with faulty Takata airbags may soon receive up to $500.00 under terms of a new consumer settlement.

Just over 30 percent of Toyota and Subaru vehicles have been fixed, and that number is under 20 percent for Mazda and BMW, according to the National Highway Traffic Safety Administration. The company's seeking a buyer in the aftermath of what was the biggest auto recall in history.

Facebook is using AI to hide spammy posts from your News Feed
But there will be a decline in traffic for the publishers who have the type of low-quality landing page experience. Pages that contain malicious or deceptive ads which include Prohibited Content as defined in our policies .

These agreements cover the four automakers' vehicles already recalled or subject to any future recall for Takata PSAN inflators used in driver or front passenger airbag modules, * as described in NHTSA's 2015 Consent Orders and any amendments. The automakers have jointly agreed to provide a total of approximately $553 million for these activities.

"Many consumers are unaware of the dangers their vehicles pose", Peter Prieto, a partner at the law firm Podhurst Orseck who served as the lead counsel in the class-action case, said in a conference call with reporters.

Toyota would pay the most under the settlement, at $278.5 million. Under the terms of the settlements, BMW of North America LLC will pay $131 million, Subaru of America Inc. will pay $68,262,257 and Mazda North American Operations agreed to pay $75,805,050.

News of the proposed settlement comes months after Takata agreed to pay $1 billion over air bag fraud; three of the company's executives were also criminally charged. Honda at the time said the allegations made false assertions that it and other auto makers behaved irresponsibly despite Takata admitting to deceiving the Japanese auto maker and other vehicle companies.


More news


  • Gisele Bundchen: Tom Brady had a concussion last year

    Gisele Bundchen: Tom Brady had a concussion last year

    Going by what he said a few days ago it appears that he plans on making good of his promise to fans. On Wednesday Bundchen told reporters, "He had a concussion previous year ".
    Dallas Stars sign goalie Ben Bishop to 6-year, $29.5M deal

    Dallas Stars sign goalie Ben Bishop to 6-year, $29.5M deal

    He said they have a good relationship after getting to know each other at the same goalie camp the past couple of summers. The 6-foot-7 Bishop played just seven games after the Kings acquired him from Tampa Bay to team up with Jonathan Quick.
    Senate Intelligence Committee subpoenas Flynn's records on Russian Federation

    Senate Intelligence Committee subpoenas Flynn's records on Russian Federation

    He says the former FBI Director James Comey's firing will in no way deter the committee from finding out the truth. The committee is investigating Russia's attempts to influence the US election.
  • Reema Lagoo was talent house: Shubhangi

    Reema Lagoo was talent house: Shubhangi

    Sudden death of a friend silences you. "It was during the shooting of 'Aashiqui " I discovered what a great actor she was. And that's just another aspect to an actor who had survived in the industry for so long as she was flawless at her craft.
    NYPD Calls Lower East Side Synagogue Fire

    NYPD Calls Lower East Side Synagogue Fire "Arson"

    It is reported that the synagogue Beth Ha-Midrash ha-Gadol built in 1850-ies, the Jews who arrived from Russian Federation . Firefighters were forced to battle the fire from the outside because of the intensity of the flames.

    Germany wants more guarantees from China over 'Silk Road' trade plan

    On Sunday, Zypries called for greater transparency in tenders for the initiative's projects and for adherence to global standards. He didn't give any specific investment figures for new projects expected to be signed under the initiative.
  • Donald Trump asked ex-FBI chief to stop Flynn probe

    Donald Trump asked ex-FBI chief to stop Flynn probe

    Moscow's top diplomat, Lavrov represents Russian foreign policies that are often sharply at odds with US aims in Syria and Europe. Congressional investigators are expected to seek copies of any notes taken during the meeting , a congressional source said.
    Trump still in denial Russian ambassador attended White House meeting

    Trump still in denial Russian ambassador attended White House meeting

    And the one statement that made the most impact was when he said the politicians were "damaging the political system of the U.S". Earlier in the day, Russian President Vladimir Putin, referring to Comey's firing, said, "We had nothing to do with that".
    Juve 'let guard drop' against Roma - Allegri

    Juve 'let guard drop' against Roma - Allegri

    Juventus boss Massimiliano Allegri believes the 3-1 defeat at Roma will act as a good wake-up call for his side. Spalletti added: "Now we have got some big games coming up and we want to be absolutely focused".
  • Japan approves law to let emperor abdicate

    Japan approves law to let emperor abdicate

    Prime Minister Shinzo Abe's Cabinet approved legislation Friday allowing Japan's emperor to abdicate the throne. But there is no provision under the existing law for him to abdicate and be succeeded by Crown Prince Naruhito.

    All Future Elections to be Held with VVPAT: CEC

    The Election Commission on Friday assured all political parties that EVMs were secured and could not be tampered with. Janata Dal-Secular and Jammu and Kashmir National Panthers Party also supported going back to the ballot papers.
    Brazil declares end to Zika emergency after fall in cases

    Brazil declares end to Zika emergency after fall in cases

    The World Health Organisation lifted its own global emergency in November, but cautioned that the virus remained a threat. One of those defects, microcephaly, causes babies to be born with skulls much smaller than expected.