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UPDATE: Takata Will Pay U.S. Carmakers $182 Million for Airbag Inflator Recalls
A fund set up to help carmakers pay for recalling explosion-prone Takata Corp. airbag inflators will distribute $182 million to General Motors, Ford and Fiat Chrysler Automobiles.
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A fund set up to help carmakers pay for recalling explosion-prone Takata Corp. airbag inflators will distribute $182 million to General Motors, Ford and Fiat Chrysler Automobiles.
GM, Ford and FCA will receive about $87 million, $44 million and $52 million, respectively, from the $850 million restitution fund. All three figures are slightly below the amount recommended by the fund’s director.
Toyota will be the fund’s biggest recipient, receiving $141 million, followed by Volkswagen Group at $124 million and Honda at $122 million. The payouts were approved by U.S. District Court Judge George Steeh in Detroit.
Most of the 13 fatalities and nearly 200 injuries in the U.S. caused by misfiring Takata inflators occurred in Honda vehicles. But 18 other carmakers also are conducting staged recalls that eventually will replace roughly 70 million of the faulty devices in the U.S. alone.
The National Highway Traffic Safety Administration says Honda has targeted 16.3 million Takata inflators and replaced 11.4 million of them to date. FCA has replaced 3.3 million of 8.6 million affected devices.
NHTSA reports that Ford so far has replaced 756,000 of 1.6 million recalled devices. GM has swapped out 400,000 of 712,000 inflators.
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