Have an exploding airbag? You might get $500

Have an exploding airbag? You might get $500

Have an exploding airbag? You might get $500

Under the provisionary settlement, Toyota agreed to pay $278.5 million, BMW $131 million, Mazda $75.8 million and Subaru $68.3 million.

The four automakers are the first to agree to a settlement over the Takata recall and the funds will be used for consumer outreach, rental car/loaner programs, and out-of-pocket cost reimbursement.

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The fallout from the Takata airbag recall continues as BMW, Mazda, Subaru, and Toyota have reached a $553 million settlement with the United States government.

Takata Corp. inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The court must still approve the settlement. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs.

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But the plaintiffs in the class-action suit say the pace of recalls and repairs has been slow: As of late April, they say, all of the auto makers in today's settlement had completed less than a third of their air-bag related recalls. The plaintiffs filed papers to settle their claims against the companies Thursday, saying the deal covers almost 16 million vehicles. The rental car/loaner program will provide rental or loaner vehicles upon request to eligible customers for whom recall fix parts are not available within 30 days. About 100 million inflators have been recalled worldwide by 19 major automakers, the largest automotive recall ever for a single safety issue.

More than 14 million of the air bags have been repaired in the USA, according to the National Highway Traffic Safety Administration. By 2019, automakers will recall 64 million to 69 million US inflators in 42 million vehicles, regulators said in December. The 2002-2006 BMW 3 Series, 2003-2006 Mazda6, 2005-2008 Subaru Legacy and 2003-2007 Toyota Corolla are among the vehicles covered by this settlement that are considered the highest risk.

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In January, Takata agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a federal investigation into its inflators.

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