Photo: Kia
The world’s largest safety recall is far from over, but things are slowly progressing in an adequate direction.
Four automakers have settled the lawsuits filed against them, and they will pay a total of $553 million to cover the estimated losses incurred by customers of approximately 16 million vehicles sold in the USA. The four brands in the class-action settlement are Toyota, Subaru, Mazda, and BMW.
Toyota has the biggest part of compensation, in the form of $278.5 million, while Subaru is assigned the smallest amount, $68 million. The difference between them is because Subaru had significantly less affected vehicles.
BMW is set to be accountable for $131 million, and Mazda is supposed to zoom-zoom about $76 million if a Florida judge approves the settlement deal. A court-appointed administrator will oversee the entire situation.
All four have issued a joint statement that noted that they agreed to settle with the plaintiffs when considering the “severity, size, and scope of the Takata recall,” but did not admit fault or liability.
Out of the entire sum, about $50 million will be used to cover rental cars, but some owners of affected vehicles will get reimbursements for lost wages, transportation costs, and even for child care expenses.
There is also a settlement that involves Takata itself, who will compensate automakers with $850 million, and that deal also created a $125 million fund to compensate injured individuals who have not already reached an agreement by January 2017.
Most of the airbag-related injuries and fatalities have occurred in the USA, where the criminal penalties and settlements have been made.
Regulators stated that over 46 million airbag inflators were already recalled, and regulators have explained that the count should go a value between 64 and 69 million replaced airbag inflators by 2019.
Other automakers involved in class-action lawsuits over this scandal include Honda, Ford, and Nissan, but theirs have not been settled, Automotive News informs.
Toyota has the biggest part of compensation, in the form of $278.5 million, while Subaru is assigned the smallest amount, $68 million. The difference between them is because Subaru had significantly less affected vehicles.
BMW is set to be accountable for $131 million, and Mazda is supposed to zoom-zoom about $76 million if a Florida judge approves the settlement deal. A court-appointed administrator will oversee the entire situation.
All four have issued a joint statement that noted that they agreed to settle with the plaintiffs when considering the “severity, size, and scope of the Takata recall,” but did not admit fault or liability.
Out of the entire sum, about $50 million will be used to cover rental cars, but some owners of affected vehicles will get reimbursements for lost wages, transportation costs, and even for child care expenses.
There is also a settlement that involves Takata itself, who will compensate automakers with $850 million, and that deal also created a $125 million fund to compensate injured individuals who have not already reached an agreement by January 2017.
Most of the airbag-related injuries and fatalities have occurred in the USA, where the criminal penalties and settlements have been made.
Regulators stated that over 46 million airbag inflators were already recalled, and regulators have explained that the count should go a value between 64 and 69 million replaced airbag inflators by 2019.
Other automakers involved in class-action lawsuits over this scandal include Honda, Ford, and Nissan, but theirs have not been settled, Automotive News informs.
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