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Daimler Earmarks €500 Million for Takata Airbag Inflator Recalls
Daimler AG says it will set aside roughly €500 million ($560 million) in 2016 to cover the cost of recalling vehicles equipped with Takata Corp. airbag inflators that could explode.
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Daimler AG says it will set aside roughly €500 million ($560 million) in 2016 to cover the cost of recalling vehicles equipped with Takata Corp. airbag inflators that could explode.
The provision is in response to a widened Takata recall schedule in the U.S. announced in early May by the National Highway Traffic Safety Administration. The plan will expand current callbacks of 29 million Takata inflators in vehicles made by a dozen carmakers to nearly 69 million devices used by 17 manufacturers.
The new campaigns will be phased in between now and the end of 2019 because replacement inflators aren’t available in sufficient quantities to complete the recalls sooner.
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