Our last blog on the defective airbags manufactured by Takata, a Japanese company was February 22, 2016. As of May, 2016, 25 million vehicles over the past 8 years have been recalled. In May, 2016, Federal Regulators announced an expansion of the recalls to at least another 35 million vehicle with airbags that come out with such power that it shoots out metal shrapnel into the person in front of the airbag (driver’s and passengers’ sides). At least 11 global deaths and approximately 100 injuries are attributed to the faulty airbags.
25 million airbags under recall is the largest consumers’ product recall in U.S. History. Now with an additional 35 million added to the recall list, a new largest recall has been instituted. The National Highway Traffic Safety Administration estimated that the cars covered by the existing recall would not be fixed until 2019. So far, according to an article by Peter Bigelow at autoblog.com, a million airbags have been repaired with doubling the recall of airbag by Takata. The time line for fixing the airbags will extend into the future and millions of motorists will drive around with ticking time bombs in their cars. Meanwhile, Takata spokesman states “Takata is working with regulators and automakers to develop long term orderly solutions to handle the millions of airbags recalled”. Investigators state the defect drew worse with age.
On October 10, 2016, it was reported in USA Today – The Journal News that Takata Corp.’s defective airbag has been attributed to at least 14 deaths and more than 100 injuries. Unfortunately, Takata Corp. is considering a U.S. bankruptcy to deal with the costs involved in the recall of its product. The Wall Street Journal reported the companies consideration, Takata Corp. declined to comment. Takata is still trying to find a private equity investor or an auto parts maker to consider a deal that would result in more cash for the company to deal with their recalls. Takata’s Steering Committee confirmed this year that it was working with restructuring firm Lazard to seek new investments. If this fails, Takata will go bankrupt and then who replaces the defective airbags?
If you or someone you know has been injured by a defective Takata airbag, call the law firm of Dominick J. Robustelli & Associates, PLLC at (914) 288-0800, Robustelli NY Injury Law or White Plains Injury Lawyer.com.