When it comes to Takata airbag claims, it is not just the manufacturer of the airbags who is on the hook for claims relating to the faulty components. Auto manufacturers are having to set aside millions to settle potential claims as well. Engaget reports that Honda is setting aside $605 million to settle claims related to the potentially deadly airbags.
While several auto manufacturers have felt the impact of the Takata airbag scandal, it is Honda that has possibly felt the most impact. Now the Japanese auto manufacturer has set aside $605 million dollars in settlement funds.
The funds will go towards paying claims made by auto owners that are related to the deadly airbags. These claims are being set aside to pay for the out-of-pocket costs and lost wages customers might incur from having to bring their vehicles in to be serviced to have the airbags replaced.
Part of the amount will also go to an outreach program that is designed to speed up the space of the recall as well as the replacement of the faulty airbags.
Though the amount has yet to be approved by the court, if it is approved, it will be the largest among all Takata-related settlements.
Toyota, Subaru, and Mazda agreed to a settlement of $553 million total combined. Nissan settled a class-action lawsuit for $97.7 million.
Honda was one of Takata’s biggest customers. Of the 18 worldwide deaths linked to the airbags, 17 were in Honda vehicles.
Have you been injured by a Takata airbag during an accident? Let the experienced attorneys at the law offices of John Foy & Associates fight to get you the compensation you deserve. Call us today.