True, but seems Takata solvency is up for grabs...heck we are driving cars with airbags that could kill us fast as a hand grenade, profit before safety it appears.
14% of usa car recalls is just the tip of iceberg, they are handling weather related parts of the country first...live in a colder climate last on the recalls.
You said two main things in your post, let me address them separately, as others that are
affected, may not know all the information.
Takata, the manufacturer at the center of the world's largest auto safety recall,
filed for Chapter 11 bankruptcy in the United States back in June of last year.
The company also filed for bankruptcy protection in Japan, where it is based.
Takata and its financial advisers have determined that it owes too much money
to too many people to survive. But instead of abruptly closing shop, the company
is dismantling itself in stages.
First, it will sell its assets (its factories, mainly) to a rival company, Key Safety Systems,
which is based in Michigan. Then it will use the money from the sale, about $1.6 billion,
to pay down its debts and settle legal claims. A small remnant of Takata would then
emerge from bankruptcy, primarily to handle the replacement of the airbag inflaters.
Much of the work will now take place in courts in the United States and Japan. They will
be settling disputes by different groups that are seeking money from the company, like
banks, carmakers and accident victims who are suing for damages. In court filings, Takata
said it hoped to win court approval for its reorganization by the end of March.
The recalled airbags are those that have ammonium-nitrate inflaters without a chemical
drying agent to counteract a moisture problem. Moisture and extreme temperature swings
accelerate the possible breakdown, thus the geographical emphasis in staging the recalls.
However, the government has said that even those models that contain the drying agent
could be recalled in the future if the moisture issue is still causing ruptures.
To date,
42 million vehicles are being recalled to replace airbag inflaters.
Which automakers are affected?
The Takata airbag recall involves the following list of manufacturers:
- BMW
- Chrysler
- Daimler Trucks North America
- Daimler Vans USA
- Ferrari
- Ford
- General Motors
- Honda
- Mazda
- Mercedes-Benz
- Mitsubishi
- Nissan
- Subaru
- Toyota
- Volkswagen
- Jaguar/Land Rover
If you drive a vehicle from somebody else, you are probably safe.
