Toyota, 3 other automakers settle suit over Takata air bags
19 May, 2017, 08:44 | Author: Nadine Todd
Four carmakers, including Toyota and BMW, have agreed to pay $553m (£425m) to settle class-action lawsuits covering owners of recalled vehicles, fitted with potentially faulty Takata airbags.
Takata air bags have been linked to 11 deaths and some 180 injuries in the United States. Under the terms of the settlements, BMW of North America LLC will pay $131 million, Subaru of America Inc. will pay $68,262,257 and Mazda North American Operations agreed to pay $75,805,050.
The automakers said the settlements, which are subject to approval by a Florida judge, will be overseen by a court-appointed administrator.
Four automakers including Toyota and BMW agreed yesterday to pay US$553 million (RM2.39 billion) to settle a USA lawsuit over the defective Takata airbags blamed for 11 deaths in the United States alone. Additionally, compensation will be provided to class members who suffered economic losses as a result from the Takata airbag recall, such as vehicle rentals. Owners getting a recall can be reimbursed for lost wages, transportation and child care costs.
The settlement includes a new independent outreach program that seeks to dramatically increase recall remedy completion rates and will regularly contact owners.
Automakers would be required to provide free rental cars to owners of the highest-risk cars.
Almost 100 million cars, including about 70 million in the United States, were subject to the airbag recall, the largest in auto history. US safety regulators have determined that older cars are at the highest risk, since a chemical Takata used in its air bags can break down over time when it's exposed to humidity. So far the air bags have been replaced in fewer than a third of the affected Toyota and Subaru vehicles and fewer than a fifth of those from BMW and Mazda.
Nissan, Honda and Ford are also part of the ongoing federal court case, but plaintiffs' attorney Peter Prieto wouldn't say Thursday whether he is talking to those companies about similar settlements. The company has agreed to pay $1 billion in penalties for concealing defects with its air bags.
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