The company behind one of the largest safety recalls in automotive history might have a lifeline thrown its way.
Takata, the manufacturer at the heart of the exploding airbag scandal, is being courted by private equity firms, Bloomberg reports, with at least one high-profile company already in close talks. (Read More…)
Confirming rumbling from earlier today, the U.S. Department of Transportation is calling for the recall of 35 to 40 million Takata airbag inflators that pose a potentially deadly risk to motorists.
All of the company’s ammonium nitrate-based frontal airbag inflators that were shipped to automakers without a chemical drying agent are included in the recall. (Read More…)
Maybe 2016 isn’t Takata’s year.
The airbag manufacturer at the heart of the largest automotive safety recall in history is poised to double the number of airbag inflators it needs to fix, Reuters reports.
A number of people close to the issue said the beleaguered company will soon announce a massive expansion in the scope of the recall, which has already seen 28.8 million airbag inflators recalled in vehicles from 14 automakers. Another 35 to 40 million units require fixing, the sources say. (Read More…)
The cost of a comprehensive recall of all Takata Corporation airbag inflators could sink the company.
A source at airbag manufacturer Takata told Bloomberg that a worst-case scenario — a recall of 287.5 million airbag inflators — would cost the company $24 billion dollars, far more than analysts previously estimated.
The cost would be the equivalent of four times the projected revenue Takata expects for the 2015-2016 fiscal year, or six times the total value of the company’s assets.
An American man will soon enjoy the task of making people love his controversial company again.
That, Goodyear’s been watching I, Robot, Toyota shatters its corporate structure, sentiment grows for better braking, and the feds say the airbag recall has gone far enough … after the break!
Ford announced Monday that it would no longer use airbag inflators made by beleaguered supplier Takata. It’s the latest automaker to join a growing list of companies abandoning the controversial parts maker, Automotive News reported.
Honda, Nissan, Mazda and Toyota all announced they wouldn’t be using the airbag inflators, which could explode and spray metal shards into drivers and passengers, after the company’s record recall and fine by the Department of Transportation. Roughly 1.5 million Fords have been recalled as part of the airbag recall that has affected 19 million cars by 12 different automakers.
So far, eight deaths and nearly 100 injuries have been blamed on the faulty airbags. (Read More…)
Speaking at an event in suburban Detroit, National Highway Traffic Safety Administration chief Mark Rosekind said Volkswagen’s admission that they lied about emissions in their diesel cars erodes confidence in automakers.
“They tell you one thing, you question it,” Rosekind said to reporters, according to Automotive News. “You just have to question every assumption when information is provided.”
Recent scandals including VW, hackable cars and airbag defects erode consumer confidence and that more must be done by automakers before cars go on sale, he said.
“Accountability in leadership is literally at the top of the list, and we’ve just got to be out front, acting, talking and doing everything we can to demonstrate that it should be in their genes,” Rosekind said, according to Automotive News.
They didn’t make compromises, they made Saabs?
Sajeev, I’ve what should be a straightforward question, but before I go down the rabbit hole with Subaru and GM, I thought I would get some advice. My girlfriend bought a ’05 Saab 9-2X recently. She loves the car and has been making plans for modifying the interior (she’s a lead electronics tech). Anyway, Subaru broadened their Takata airbag recall to include ’05 WRXs…which is essentially what her car is, under the skin.
You can see the question coming, of course. (Read More…)
The Takata airbag inflator problem illustrates a fine dilemma: quality standards across the auto industry are good, those for safety-critical devices are exceptional. The higher the standards, the more difficult it is to spot, much less address, potential problems. If there are only a handful of “incidents” reflected in accident or warranty reports, it requires luck to spot a correlation. Such reports aren’t necessarily high in quality. So even when there does appear to be a potential issue, small numbers and limited information make tracing the root cause(s) challenging and potentially impossible.
(photo courtesy: kdeissy.files.wordpress.com)
TTAC commentator “Stuck in DC Traffic” writes:
Hello Sajeev, B&B and your evil doppelganger Sanjeev,
I have a 2004 Acura TSX 6MT with 263,000 miles on it. The car runs great, owned out right, still looks good, and is almost problem free except for an airbag light. Being that I live in the DC metro area and we are rated one of the worst places in the US for accidents, that light makes me nervous. What I want to know; is it worth getting fixed? Or for that matter is it even worth getting diagnosed? (Read More…)