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Takata has taken a severe beating in the market in response to the airbag scandal. Things have gotten so bad that there are strong rumors of possible bankruptcy by the company. CNN Money has a story on the issue.
Due the rumors, Takata stock dropped 17% yesterday. The stock is now worth an eighth of what it was back in 2014. Takata has been trying to figure out how to stay in business and supply all of the manufacturers with replacement parts to avoid the deadly shrapnel issue in some Takata inflators.
The rumors suggest that Takata will file for bankruptcy in Japan and the US, then sell off the business to a competitor who will take over supplying parts for the recalled airbags. However, nothing has been decided yet by the company. They are considering all options.
Financial analysts have warned for some time now that the scope of Takata’s airbag recall could drive the company into bankruptcy. Completing the recall could take until 2023 by some estimates.
If you own a vehicle in the recall list, you need to get it replaced as soon as possible. If you get a replacement airbag, make sure that it is not under the recall as well. And if you’ve been injured by an exploding airbag, you need to contact John Foy & Associates today to see if you might be due compensation. Call today.
