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Posts Tagged ‘Takata news’

Another 2.7 Million Defective Takata Airbags Recalled

Announcement comes a day after another death reported.

by on Jul.11, 2017

NHTSA forced Takata to recall 2.7 million vehicles due to faulty airbags.

The National Highway Traffic Safety Administration has ordered Takata Corp. to order the recall of another 2.7 million potentially defective airbag inflators, a move that will cover vehicles sold by Ford, Mazda and Nissan.

Earlier this week, Honda reported the death of a 11th American caused by faulty Takata airbags. Worldwide, at least 18 have been killed, with another 180 known to have been injured. About 70 million airbags have been covered by recalls in the U.S., a figure that grows to more than 100 million worldwide.

News Now!

Takata declared bankruptcy last month, its assets sold to Detroit-based supplier Key Safety Systems. The move is expected to help speed up the production of replacement airbag inflators. A shortage of parts has meant extended wait times for many owners looking to get their vehicles repaired. (more…)

Honda Confirms 12th Takata Airbag Related Death in US

Japanese supplier’s airbags injured 180 globally.

by on Jul.10, 2017

Honda confirmed an 11th fatality in the U.S. related to Takata's faulty airbag inflators.

Even as it is tied up in bankruptcy, Takata’s legacy continues after Honda Motor Co. reported another death related to Takata’s faulty airbag inflators. It was the 12th fatality in the U.S. attributed to the airbags.

The latest death occurred in Flordia, according to Reuters, when a person was performing a repair on a 2001 Honda Accord when the airbag exploded. In all, 17 deaths and 180 injuries around the world have been reported as being tied to Takata’s airbags.

Safety News!

The airbags, which have inflators that exploded with too much force sending shrapnel into the cabin of the vehicle, have become the largest recall in U.S. history with more than 60 million vehicles subject to recall. Globally, the recall number is closer to 125 million. (more…)

China Urging GM, Mercedes, VW to Replace Faulty Takata Airbags

Automakers say testing and analysis must be completed.

by on Jul.07, 2017

Chinese officials are pressuring GM, VW and Mercedes to recall vehicles with faulty Takata airbags.

Takata’s airbag problem is now following some automakers around the globe. Officials in China are pushing General Motors, Mercedes-Benz and Volkswagen to issue recalls for vehicles in that country equipped with the faulty airbags.

The airbag inflators become unstable over time causing them to explode with too much force sending shrapnel into the vehicle cabin. The problem has been blamed for 16 deaths and more than 180 injuries worldwide.

News You Can Trust!

While a full-on effort is ongoing in the U.S. to replace faulty units, in China the three makers are suggesting a recall for a small number of vehicles to conduct tests instead of a full recall, according to the General Administration of Quality Supervision, Inspection and Quarantine. (more…)

What Does Takata Sale – and Airbag Recall — Mean to You?

Tens of millions of motorists still at risk.

by on Jun.26, 2017

High schooler Huma Hanif was one of at least 16 killed by faulty Takata airbags, most in the U.S..

In 2008, Honda announced the recall of 4,000 older Accord and Civic models equipped with potentially faulty airbags that could malfunction during a crash. Today, that has grown into a cross-industry recall covering more than 42 million vehicles on U.S. roads.

Because Takata airbag inflators can malfunction during a crash, spewing shrapnel into the passenger compartment, the problem has so far been linked to at least 16 deaths, most of them in the U.S., along with more than 100 injuries. Yet, only slightly more than a third of the affected vehicles have been repaired.

The Full Story!

Is your vehicle carrying around one of these potential time bombs? How can you find out and what can you do if that car, truck or crossover is on a recall list? Who will pay? And what do you do if your Takata airbag did malfunction? Here are some things to consider now that Takata has declared bankruptcy and been sold to Chinese-owned Key Safety Systems:

(more…)

Takata Declares Bankruptcy, Assets Sold to Chinese-Owned Key Safety Systems

Recalls, victims compensation fund to move ahead.

by on Jun.26, 2017

Takata's scandal is ultimately expected to cost $9 billion, according to some Japanese reports.

Blamed for the largest safety recall in automotive history and hammered by over $1 billion penalties and other costs following a guilty plea in U.S. federal court, Takata Corp. filed for bankruptcy overnight, most of the assets of the company being sold to Key Safety Systems, a Chinese-owned automotive supplier based in Sterling Heights, Michigan.

Takata has been blamed for knowingly marketing faulty airbags that can improperly inflate during a crash, sending plastic and metal shrapnel into the passenger compartment. At least 16 people are known to have died due to the defect, most in the United States, with more than 100 others injured.

Breaking News!

Nearly all automakers have used at least some of the faulty bags, from niche players like Rolls-Royce and Ferrari to major manufacturers such as General Motors, Volkswagen and Honda. It has been estimated that a quarter of the light duty vehicles in use in the U.S. use Takata airbags. Currently, about 42 million are or will be recalled, as federal regulators are staging their safety campaign, targeting older vehicles first due to a shortage of replacement airbag inflators. Tens of millions of other vehicles are being recalled outside the U.S.

(more…)

Takata Expected to File Bankruptcy in Japan

Action expected to come on Monday, according to reports.

by on Jun.23, 2017

The troubled supplier is close to filing bankruptcy, sources claim. The filing is expected to occur on Monday in Japan.

Long-troubled auto supplier Takata Corp. will file bankruptcy on Monday, as it seeks to reorganize billions of dollars in liabilities tied mostly to its defective airbag inflators.

The Japanese company, according to Reuters, will file for protection in Tokyo District Court under the Civil Rehabilitation Act, which is that country’s version of U.S. Chapter 11 bankruptcy. Reuters tied its report to sources, one of whom has direct knowledge of the matter and one who was briefed on the process.

Global Auto News!

Takata will seek bridge loans from the banking unit of Sumitomo Mitsui Financial Group Inc., “which will provide tens of billions of yen (hundreds of millions of dollars) in bridge loans,” Reuters reported. (more…)

Takata Close to Filing Bankruptcy

Talks with Key for financial help may not close in time.

by on Jun.15, 2017

The troubled supplier is close to filing bankruptcy, sources claim. The filing could come as early as next week.

The long saga that has become the deal between Takata Corp. and Key Safety Systems Inc. may be winding to a close as sources report the Japanese company is close to filing bankruptcy, perhaps as early as next week.

Reuters reports that Takata has been hammering out a deal with Key for financial backing, and trying to deal with the billions of dollars in liabilities it owes due to its defective air bag inflators.

Safety News!

Another sticking point is the $850 million owed by the Japanese airbag system maker to major global automakers, which is part of a settlement reached earlier this year. The company has until 2018 to pay the $850 million. Neither Takata nor Key commented on the story, Reuters reported. (more…)

Former FBI Director Mueller Out as Takata Victim Fund Chief

Expected to be replaced by compensation fund specialist Feinberg.

by on Jun.06, 2017

Former FBI Director Robert Mueller was overseeing the $1 billion Takata victims fund, but is now in charge of a Justice Department probe.

The escalating probe of possible Russian meddling in the 2017 presidential election is now interfering with plans to compensate victims of Takata’s faulty airbags.

Former FBI Director Robert Mueller, who had been named earlier this year to handle claims of more than $1 billion as part of a settlement with the U.S. government is stepping down in order to lead the Justice Department probe of alleged hacking and the possibility of collusion by then-candidate Donald Trump’s campaign team.

News Now!

Mueller is expected to be replaced by Kenneth Feinberg – who many originally expected to be named by U.S. District Judge George Caram Steeh to oversee the Takata victims’ fund. Feinberg has become one of the nation’s leading specialists in such efforts, previously having overseen payouts to victims of the 9/11 attacks, the BP Gulf oil spill and a fund set up by General Motors to compensate victims and families as a result of its deadly ignition switch defect. (more…)

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…)