Have an exploding airbag? You might get $500

May 19, 2017, 04:44
Have an exploding airbag? You might get $500

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.

The settlements also provide compensation for economic losses resulting from the recall including paying reasonable out-of-pocket expenses; a possible residual distribution payment of up to $500, rental cars to the most at-risk owners while they wait for recall remedies; and a customer support program for repairs and adjustments, including an extended warranty.

The fallout from the Takata airbag recall continues as BMW, Mazda, Subaru, and Toyota have reached a $553 million settlement with the United States government.

Similar economic-loss claims against Honda, Ford and Nissan have yet to be settled.

More news: Trump didn't know source of information shared with Russian Federation , adviser says

Takata 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.

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.

"The low number of recalls to-date demonstrates the need for a settlement of this type, and we look forward to accelerating the removal of defective Takata airbags from the roads", said Peter Prieto, the court-appointed chair lead counsel, who helped negotiate the settlement.

Part of the settlement money will be used to encourage consumers whose cars are under recall to bring them to dealers for fix.

More news: Google's Legal War With Uber Will Officially Play Out in Court

Under the terms of the agreement, the automakers will fund outreach programs with the goal of "significantly increasing" recall completion rates.

The airbags are blamed for 11 deaths and more than 150 injuries, though further cases are now under review.

Some 15.8 million vehicles now have the defective air bag inflators installed, and the settlement is meant to expedite their removal. Takata also reached a $1 billion settlement with the USA that included a $25 million criminal fine. The issue is critical because the huge recall covers more than a dozen automakers, and NHTSA expects that it will affect 64 to 69 million inflators in 42 million vehicles by 2020.

More news: Woman accused of stalking congressman because of health care vote

Loading...
loading...
loading...
YOU MIGHT ALSO LIKE
  • WannaCry Ransomware: Microsoft Calls Out NSA For 'Stockpiling' Vulnerabilities

    Stronger incentives are needed to prompt users to replace rather than patch out-of-date pieces of code like Windows XP. We recommend customers that have not yet installed the security update MS17-010 do so as soon as possible.
    Brad Pitt: 'I'm Not Suicidal'

    Brad Pitt: 'I'm Not Suicidal'

    If he was lent to Kate Hudson, Sandra Bullock or Sienna Miller, other rumors said that Brad Pitt had simply drawn a line on love. According to divorce papers, Hollywood's golden couple broke up just five days before the actress filed for legal separation.
    Scream Queens cancelled after two seasons

    Scream Queens cancelled after two seasons

    Originally pitched as a horror anthology series, Season 1 of the show focused on a college campus rocked by a series of murders. Even then, the show managed to pull a semi-decent conclusion that didn't really leave much room for maneuvering a third season.
  • The macOS Sierra 10.12.5 Software Update Is Now Available

    The macOS Sierra 10.12.5 Software Update Is Now Available

    That said, the update brings a litany of security fixes to bear, all of which are detailed on Apple's support website right here . The next major upgrade of macOS is expected to be previewed by Apple at its forthcoming Annual Developers Conference in June.

    Eric Bailly could face extended ban after Europa League dismissal

    It's what we are going to do. "If everything goes normally, and we have no problems, Sergio plays in the final". I don't think we can finish seventh or we can finish fourth so it's fifth or sixth and we can win a trophy.
    Oil price surge pushes FTSE 100 to record high

    Oil price surge pushes FTSE 100 to record high

    Together, they control around 20 million bpd in daily output, equivalent to a fifth of daily global consumption. US West Texas Intermediate (WTI) crude was at $48.67 a barrel, up 82c, or 1.7%.
  • Trump invites new S. Korean president to US

    Trump invites new S. Korean president to US

    Earlier in the day, Moon spoke with British Prime Minister Theresa May and German Chancellor Angela Merkel, the Blue House said. A Downing Street spokesman said the two leaders vowed to remain "close partners" on issues including defence and security.
    Ajax withstands Lyon comeback to reach Europa League final

    Ajax withstands Lyon comeback to reach Europa League final

    Ajax moved to the brink of a first European final in 21 years with a 4-1 first-leg win in Amsterdam last week. I told the players, do not panic, but it was a different game in the second half.
    Thousands of people fill arena to hear from Warren Buffett

    Thousands of people fill arena to hear from Warren Buffett

    Keller, Jordyn Holman and Katherine Chiglinsky of Bloomberg News; and by Josh Funk of The Associated Press. Buffett said at the time that 'Apple strikes me as having quite a sticky product'.
  • Who could be at risk for higher premiums under GOP?

    The MacArthur Amendment also allows states to eliminate the requirement that insurance plans cover the essential health benefits. That's what happens when you provide health care "access" that could keep the old, poor and sick from affording actual care .

    Watch Stephen Colbert Beg Trump to Let Sean Spicer Stay

    As per usual, Stephen Colbert is our saving grace and one of the few lights that cut through the smothering Trump darkness. Trump's presidency has been a complete disaster from the start.
    Unlocked Samsung Galaxy S8 (G950F) for $689

    Unlocked Samsung Galaxy S8 (G950F) for $689

    It only has a 1.5GB RAM and a 16GB internal storage (can be expanded to 256GB with a microSD card). During DxOMark's review, they ultimately gave the phone a score of 88 for the Galaxy S8.
popular