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Posts Tagged ‘Takata news’

Toyota, Mazda, Subaru and BMW Settle Takata Suit for $553M

Four makers admit no wrongdoing in settlement.

by on May.18, 2017

Four automakers – Toyota, BMW, Mazda and Subaru – agreed to settle a class-action lawsuit for $553 million.

Toyota, Mazda, Subaru and BMW agreed to a $553 million settlement for a class-action lawsuit, accounting for 16 million vehicles equipped with faulty Takata airbag inflators, according to court documents.

Reuters reported that Toyota will pay $278.5 million as part of the settlement while BMW will pay $131 million, Mazda $76 million and Subaru $68 million. Nineteen automakers used the faulty inflators responsible for more than a dozen deaths and nearly 200 injuries worldwide.

News Now!

The inflators will explode under certain conditions, sending plastic and metal shrapnel into the cabin of the vehicle. Among those automakers in the class-action suit that haven’t reached a settlement: Honda, Ford and Nissan. (more…)

Former FBI Director Overseeing Takata Victims Fund

GM fund manager Feinberg was expected to handle.

by on Apr.07, 2017

Former FBI Director Robert Mueller III will oversee the disbursement of funds from the $1 billion Takata restitution funds.

When Takata agreed to form $1 billion restitution fund for victims of its faulty airbags, it was almost assumed that Kenneth Feinberg would oversee the disbursement of those funds. He’d handled it for General Motors and several other high profile funds.

However, U.S. District Judge George Steeh in Detroit appears set to appoint former FBI Director Robert Mueller III to oversee the fund. The court appointed Mueller, who headed the FBI during the Sept. 11, 2001, terrorist attacks, as special master in the high-profile case.

The Last Word!

Steeh apparently liked Mueller’s qualifications, in particular the fact he was settlement master in the Volkswagen diesel emissions case. Feinberg, who also oversaw compensation for 9/11 victims, was considered. (more…)

Takata Victims Pursuing Legal Action Against Five Automakers

Honda, Nissan, Toyota, BMW and Ford all named in lawsuits.

by on Feb.28, 2017

Takata victims file claiming five automakers knew about airbag defect, but used them anyway.

As Takata pleaded guilty and agreed to pay a $1 billion in restitution, compensation and fines, one issue remains in doubt: What role did the automakers play?

If you listen to the car companies, they are victims as well. In fact, the settlement agreement shows them receiving $825 million due to Takata’s carelessness.

Product News!

The airbag inflators can explode with too much force in certain conditions, hurling shrapnel into the vehicle cabin. The result is 16 deaths and nearly 200 injuries worldwide. It forced the largest recall in U.S. history: 42 million vehicles. (more…)

Takata to Plead Guilty, Set up Victims’ Fund

Three executives face criminal trial but remain out of reach.

by on Feb.27, 2017

At least 16 people are known to have been killed due to faulty Takata airbags.

Embattled Japanese auto supplier Takata Corp. is expected to formally enter a guilty plea in Detroit federal court on Monday, fulfilling the requirements of a deal with the U.S. Justice Department stemming from the cover-up of a deadly airbag defect.

The settlement will see Takata pay $1 billion to settle the case, including a $25 million fine, while also setting up a $125 million compensation fund for victims and family members. So far, at least 16 people are known to have been killed by the company’s malfunctioning airbags, with over 100 injured.

Breaking News!

The government also indicted three Takata executives for allegedly falsifying test reports in an effort to cover up the airbag problem. Dozens of different automotive brands have been impacted by the defect which has led to the recall of more than 42 million vehicles in the U.S. alone.

(more…)

Thirteen Automakers Issue New Round of Takata Airbag Recalls

More than 652,000 vehicles involved in latest action.

by on Jan.19, 2017

Thirteen automakers issued recalls for 652,000 more vehicles with defective Takata airbags.

More than a dozen automakers are engaging in another round of recalls involving faulty Takata airbag inflators impacting more than 652,000 vehicles in the U.S.

The largest recall in U.S. history continued when Audi, Nissan, Jaguar-Land Rover, Subaru, Daimler Vans, Tesla, Mitsubishi, BMW, Ferrari, Mercedes, Mazda, McLaren and Fisker issued recalls for front passenger inflators.

News Now!

Takata’s inflators degrade over time and can explode with too much force sending pieces of metal shrapnel flying into the vehicle cabin. More than a dozen people have been killed as a result with hundreds more injured. (more…)

Takata Pleads Guilty in Airbag Scandal

Justice Department plans to go after executives too.

by on Jan.13, 2017

The Justice Department reached a $1 billion settlement with Takata due to its faulty airbags that resulted in the largest recall in U.S. history.

Takata Corp., the Japanese supplier whose airbags have been linked to at least 11 U.S. deaths, has agreed to plead guilty and pay fines and restitution totaling about $1 billion, the Department of Justice announced Friday afternoon.

Reflecting what U.S. Attorney General Loretta Lynch this week called an effort to hold “flesh-and-blood individuals,” rather than just “faceless corporations” responsible for criminal activity, three Takata executives have been indicted in the scandal. Takata acknowledged it not only produced defective airbags but took steps to conceal that information from both its automaker customers and from the public.

News Now!

“Takata was supposed to be selling products that saved lives,” said Sandra Moser, principal deputy chief of the DOJ’s Fraud Section. Instead, for more than a decade … it put profits ahead of people’s safety.” (more…)

Takata Expected to Pay $1B as Part of Faulty Airbag Settlement

Ford recalls 816K vehicles just one day after Honda's action on 1.29 million.

by on Jan.12, 2017

The 2012 Ford Mustang is part of the latest recall of vehicles equipped with faulty Takata airbags.

Takata Corp. is going to pay $1 billion and plead guilty to fraud as part of a settlement with the U.S. Justice Department, according to reports.

The deal completes the government’s criminal investigation into the Japanese auto supplier’s faulty airbags, which under certain conditions will explode spraying shrapnel into the cabin of the vehicle.

News Now!

More than 15 people globally – 11 in the U.S. – have died as a result of the airbags and hundreds have been injured. It is the largest automotive recall in history. (more…)

Honda’s Takata Problems Continue with Recall of 1.29M Vehicles

Automaker has now recalled 11.4 million vehicles with faulty Takata airbags.

by on Jan.11, 2017

The 2012 Honda Accord is just one of 1.29 million vehicles the automaker is recalling due to Takata airbags.

Honda announced it is recalling 1.29 million vehicles equipped with faulty Takata passenger front airbag inflators. The total includes 772,000 additional Honda and Acura vehicles not previously recalled.

As usual, the repairs will be made at no cost to the owner. Additionally, no new driver front airbag inflators in Honda or Acura automobiles will be subject to recall in this action, as all potentially affected driver inflators are already subject to prior recalls.

News Now!

However, some vehicles previously repaired under earlier driver front inflator recalls will now require replacement of those vehicles’ passenger front inflators under this new action. Notices for this action will be mailed out in late February. (more…)

Justice Department Set to Smack Takata With $1B Fine

New fine was impact recall efforts.

by on Dec.29, 2016

Takata appears to be ready to accept a $1 billion settlement on criminal charges from the Department of Justice.

Takata may be moving to close another chapter in its troubled history with defective airbags by agreeing to a $1 billion criminal settlement.

The deal with the Justice Department, according to the Wall Street Journal, would not halt the ongoing recall efforts. The Japanese supplier is expected to plead guilty to a variety of charges as part of the deal.

Global Auto News!

It is part of the largest automotive recall in history, involving about 42 million vehicles and more than 64 million faulty airbags. (more…)

GM Allowed to Delay Takata Airbag Recall

Feds give time to Detroit maker to prove its bags used safer design.

by on Nov.22, 2016

General Motors received a reprieve from recalling 2.5 million vehicles with Takata airbags.

Federal regulators have given General Motors a temporary reprieve, allowing it time to prove that the Takata airbags used in 2.5 million vehicles, including the popular Chevrolet Silverado pickup, use a unique and safe design and thus don’t need to be recalled.

Ultimately, GM could be allowed to halt several other recalls involving Takata airbags, a move that could affect 6.8 million vehicles, in the process saving the automaker about $870 million, according to documents it filed with the U.S. Securities and Exchange Commission.

Safety News!

Faulty Takata airbags have so far been linked to at least 11 deaths in the U.S. and 16 worldwide. That has led to the recall of about 100 million vehicles globally, according to industry estimates, half of them in the United States. (more…)