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Four automakers agree to $553 million settlement to resolve Takata claims
May 18, 2017 / 4:48 PM / 4 months ago

Four automakers agree to $553 million settlement to resolve Takata claims

WASHINGTON, May 18 (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota Motor Corp’s share of the settlement costs is $278.5 million, followed by BMW AG at $131 million, Mazda at $76 million and Subaru Corp at $68 million. Lawsuits against Honda Motor Co, Ford Motor Co and Nissan Motor Co have not been settled, lawyers said.

Takata Corp inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. (Reporting by David Shepardson; Editing by Jonathan Oatis)

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