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
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data