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Posts Tagged ‘Takata news’

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…)

Takata Airbag Death Toll Rises to 11

California woman is latest victim.

by on Oct.21, 2016

An 11th fatality due to Takata's faulty airbag inflators was confirmed by NHTSA and Honda.

The number of deaths in the U.S. tied directly to defective Takata airbag inflators has risen to 11 after a California woman’s driver-side airbag ruptured in her 2001 Honda Civic.

At least 16 deaths are now linked to the defect, which trigged the largest recall in automotive history: Nearly 100 million airbag inflators worldwide by more than a dozen automakers.

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The most recent U.S. fatality was confirmed by the National Highway Traffic Safety Administration and Honda. The 50-year-old woman died after sustaining severe injuries during a Sept. 30 crash. The car was one of more than 300,000 model year 2001-2003 Honda and Acura vehicles recalled due to the inflator issue. (more…)

NHTSA Reports Show Hundreds of Takata Airbags Ruptured

Testing shows more than 650 airbag inflators ruptured.

by on Sep.26, 2016

More than 650 Takata airbags exploded during tests after they were pulled from vehicles that were part of the recall.

New testing results revealed that more than 650 Takata-produced airbag inflators ruptured after being pulled from vehicles as part of the largest recall in automotive history.

According to documents released by the National Highway Traffic Safety Administration last week, 660 inflators pulled from 245,000 vehicles ruptured when undergoing additional testing. The inflators have been linked to as many as 15 deaths globally and more than 100 serious injuries.

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The recalls are being performed in waves with the oldest vehicles involved being part of the first round of replacements. The inflators degrade over time so older vehicles get priority in the recall. (more…)

Truck Carrying Takata Airbags Explodes, Killing One, Injuring Four

Supplier’s inflators already blamed for 14 deaths.

by on Aug.29, 2016

A drone image shows the scene of a Takata truck explosion. Photo courtesy Jalopnik.com.

A 69-year-old woman was killed as the result of a crash and subsequent explosion involving a truck carrying airbag inflators and the explosive ammonium nitrate used in those devices that was bound for a Takata Corp. warehouse in Eagle Pass, Texas.

Takata is the Japanese airbag supplier whose faulty inflators have so far been blamed for at least 14 deaths worldwide. That has triggered the recall of about 50 million inflators in the U.S. and more than 100 million worldwide.

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The incident occurred last week on U.S. Highway 277 not far from the Southern Texas Takata plant when the truck, operated by a contractor, was involved in a crash. The driver, 20-year-old Mario Alberto Rodriguez, and a passenger were able to escape before the vehicle caught fire and exploded. But the inferno that touched off damaged or destroyed a number of nearby homes, including one in which victim Lucila Robles was living.

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GM’s Tab for Takata May be $870 Million

Company doesn't believe it will have to make Takata-related repairs.

by on Jul.22, 2016

General Motors faces an $870 million liability related to Takata airbags in 6.8 million vehicles.

General Motors Co. faces potential liabilities of $870 million if it has to replace 6.8 million Takata airbags in cars, full-size trucks and sport-utility vehicles, according to documents filed by the company with the U.S. Securities and Exchange Commission.

The company doesn’t believe there is a safety defect at this time in any of its vehicles related to the airbags it has filed reports with the National Highway Traffic Safety Administration, covering 2.5 million full-size pick-up trucks and sport utility vehicles.

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“As a result of discussions with NHTSA and as described in the Preliminary DIR, GM will have an opportunity to prove to NHTSA that the inflators in these vehicles do not pose an unreasonable risk to safety,” the company noted in the filing. (more…)

Daimler Predicts Quarterly Profits Despite Takata Mess

Mercedes cars expecting small loss.

by on Jul.12, 2016

Daimler will be profitable for the second quarter, although its Mercedes-Benz car division will post a slight loss.

Like other automakers, Daimler AG will release the company’s second-quarter financial report later this month, but it also disclosed it expects earnings for the April-to-June quarter to beat expectations despite the recall of thousands of vehicles equipped with Takata airbags.

“Daimler AG has achieved a Group EBIT adjusted for special reporting items for the second quarter that is significantly above market expectations. Group EBIT adjusted for special reporting items sums up to” 3.97 billion euros, or $4.41 billion, compared with 3.76 billion, or $4.17 billion, for the second quarter of 2015, the company said in a statement this week.

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EBIT is defined as: earnings before income taxes minus interest income plus interest expenses plus amortization of capitalized borrowing costs, Daimler said. (more…)

Takata CEO Outlines Plans to Resign

“I want to pass the baton.”

by on Jun.28, 2016

Takata CEO Shigehisa Takada has apologized for the airbag scandal but will soon step down.

The CEO of safety systems supplier Takata plans to resign, a move that could help the tarnished Japanese manufacturer raise the capital necessary for its survival.

Takata CEO Shigehisa Takada has come under intense fire in the wake of revelations about the company’s airbag systems, which have been linked to the deaths of at least 14 people worldwide, with more than 100 other injured. That has triggered the largest recall in U.S. automotive history, so far affecting more than 40 million vehicles.

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Takata has been struggling to supply enough new airbag inflators to replace those under recall, and its cash crunch has made it difficult to ramp up production. The company has been looking at restructuring opportunities that might include finding a buyer. (more…)

Takata Selling Off Auto Shares to Pay for Possible Compensation

Supplier sells off most of stake in Honda; other makers next.

by on Jun.14, 2016

Takata is selling of its stock holdings in automakers to bolster its financial resources.

Takata Corp. is girding for the worst by selling its shares in various automakers to raise funds for the compensation claims it expects to face for its defective airbags that have caused the recall of more than 24 million vehicles worldwide.

The supplier is selling the stakes with the carmakers’ approval, said Akiko Watanabe, a spokeswoman for the supplier, declining to give more details to Bloomberg News.

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The airbags have been tied to 13 deaths, including 10 in the U.S. The units have faulty inflators that can deploy with too much force and the resulting explosion hurls plastic and metal pieces into the vehicle’s passenger cabin. (more…)

Automakers Continue to Install Defective Takata Airbags on New Vehicles

And 2.1 mil defective inflators have been installed as replacements in older vehicles.

by on Jun.01, 2016

A Takata airbag after a crash.

(This story has been revised to include comments by FCA and Toyota.)

Even as federal safety regulators expand the ongoing recall of defective Takata airbags, four major automakers continue to install some of the potentially deadly devices on their newest vehicles, according to a new Senate report.

A number of manufacturers also are using defective Takata inflators as replacements for older airbags in about 2.1 million recalled vehicles. Federal regulators have approved that move as a temporary measure due to a shortage of replacements parts using newer, safer designs.

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The four manufacturers that acknowledge they are continuing to use defective Takata bags in new products are Fiat Chrysler, Mitsubishi, Toyota and Volkswagen, according to the report released today by U.S. Senator Bill Nelson, the ranking Democrat on the Senate Commerce Committee.

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Eight Automakers to Recall 12 Mil Vehicles for Takata Airbags

Largest recall in history continues to grow.

by on May.27, 2016

The latest recall takes in millions of Honda vehicles, including this 2010 Civic.

The biggest safety recall in U.S. automotive history is about to get even bigger, eight automakers revealing they will recall 12 million vehicles to replace faulty Takata airbag inflators.

The move follows last month’s announcement by the National Highway Traffic Safety Administration that it wanted as many as 40 million inflators replaced because they could malfunction during crashes. The exact number of vehicles that would cover wasn’t clear because some vehicles use more than one of the suspect devices.

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The list of manufacturers covered by the latest recall includes Toyota – which announced some other airbag service actions earlier this week – Fiat Chrysler, Mazda, Nissan, Subaru, Ferrari and Mitsubishi. And Honda will not only recall 2.2 million more automobiles but 2,700 of its Gold Wing motorcycles equipped with optional front airbags.

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