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Honda owners to get up to $500, rental cars in Takata air bag settlement


Scandal-plagued airbag maker Takata Corp. filed for bankruptcy in Delaware and Japan late Sunday, June 25, after paying out over $1 billion in fines for the largest auto safety recall in U.S. history.


Owners of about 16.5 million Honda and Acura vehicles with potentially defective Takata Air bags are eligible for financial aid in getting their cars fixed and up to $500 in compensation under the terms of a new consumer settlement.


Japanese automaker Honda agreed to a $605 million class-action settlement covering economic losses suffered by the U.S. owners of vehicles fitted with Takata Air Bags.


“This agreement will not only expand awareness of the Takata recalls and improve driver safety by accelerating the removal of defective airbags from our roads, but will provide compensation to affected Honda consumers,” said Peter Prieto, court-appointed lead counsel for the plaintiffs, in a statement.


The supplier pleaded guilty to criminal charges in the U.S. and filed for Chapter 11 bankruptcy protection in June, facing staggering repair costs and more than $1 billion in penalties.




READ MORE (USA TODAY)


  • Honda to Pay $484 Million in Air Bag Malfunction SettlementBloomberg
  • Honda will pay $605 million in a settlement over Takata air-bag flawsBusiness Insider UK
  • Honda Reaches $605 Million Settlement in Takata Airbag CaseTheStreet.com
  • Honda agrees to pay $484M over Takata economic loss claimsLeftLane News
  • Honda Owners Could Get up to $500 in Air Bag SettlementU.S. News & World Report
  • Honda reaches $605M US settlement over Takata air bagsFox Business
  • UPDATE 1-Honda reaches $605 mln US settlement over Takata air bagsReuters
  • Honda reaches $605m settlement over Takata airbagsFinancial Times
  • Honda Reaches $605 Million Takata Air-Bag SettlementWall Street Journal (subscription)


This post first appeared on The 5th News, please read the originial post: here

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Honda owners to get up to $500, rental cars in Takata air bag settlement

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