Ford Will Pay $300 Million to Put the Takata Airbag Nightmare Behind It [Fortune]
Ford Motor Company (F)
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Source: Fortune
Ford Motor has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata air-bag recalls . The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners or lessees of Ford vehicles who are waiting for their air bags to be fixed, according to the pact. The settlement will also increase outreach efforts to find consumers whose vehicles still have defective air bags. Ford (f) is the latest automaker to settle the economic loss claims, following a $533 million agreement last year by Toyota Motor, Subaru, Mazda Motor and BMW and a separate pact by Nissan Motor for $98 million. General Motors , Fiat Chrysler Automobiles, Volkswagen and Daimler’s Mercedes-Benz continue to litigate these claims, plaintiffs’ lawyers said in a statement Monday. The massive Takata air-bag recalls, the largest in history , led to the company filing for bankruptcy in 2017 an
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