Mexican Media Brands
Ford Agrees to $299 Million Settlement for Takata Recalls
Ford Motor Co. has agreed to pay out $299 million to compensate customers for economic losses related to replacing explosion-prone Takata airbag inflators.
#economics #regulations
Share
Ford Motor Co. has agreed to pay out $299 million to compensate customers for economic losses related to replacing explosion-prone Takata airbag inflators.
The settlement—similar to those struck previously by BMW, Honda, Mazda, Nissan, Subaru and Toyota— reimburses customers for lost wages and child care associated with its Takata recalls. Ford also is providing customers with rental or loaner cars while they await repair parts.
The settlement further addresses claims of lost resale value for customers who believed they were buying safe vehicles. Misfiring Takata inflators have injured nearly 300 people and killed at least 23 others worldwide. Two of the fatalities were in Ford vehicles.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.