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Posts Tagged ‘Takata airbag issue’

Troubled Airbag Supplier May Soon File for Bankruptcy

More than 15 dead, as many as 100 million vehicles recalled due to faulty airbags.

by on Nov.03, 2016

With skyrocketing costs and declining revenues, Takata appears to be headed for a bankruptcy filing.

Facing major costs and declining revenues as a result of its ongoing airbag problems, Japanese auto supplier Takata is reportedly getting ready to file for bankruptcy.

The parts maker is still looking for alternatives, but has been stymied, so far, in efforts to find a white knight buyer and may have no alternatives, especially as major customers press Takata to take the bankruptcy route, according to a report by the Japanese business newspaper Nikkei.

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“The primary collective goal is assessing all bids and reaching a resolution that is in the best interests of all our stakeholders while promoting public safety and enabling Takata to remain a viable and valued global supplier to the automotive industry,” the supplier said in a statement Thursday. (more…)

Toyota Vows to Solve Takata Airbag Problem

Automaker says public doubt must be removed.

by on May.22, 2015

Toyota's Akio Toyoda said resolving the Takata airbag problem and keeping the public's trust is critical to the auto industry's long-term health.

At least one automaker is pledging to get to the bottom of the problem with Takata-produced airbags that has resulted in the largest-single product recall in U.S. history: Toyota.

Akio Toyoda, Toyota’s president, said resolving the problem with airbags is critical to maintaining the public’s trust and is an industry-wide concern. The airbags can explode sending shrapnel into the cabin of the vehicle.

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The result has been six deaths, more than 100 injuries and the recall of 33.8 million vehicles in the U.S. and nearly double that globally. While the problem initially showed up regions with high humidity, the problem isn’t limited to those areas and the root cause of the problem is still unknown, Toyoda said. It’s an assertion supported by Takata officials and others. (more…)