Honda Agrees to $605 Million Takata Air Bag Settlement
The proposal filed in Miami federal court covers up to 16.5 million Hondas and Acuras made since 2001.
September 01, 2017 at 11:00 PM
8 minute read
Honda Motor Co. Ltd., the biggest player left in the Takata air bag multidistrict litigation, weighed in Friday with a $605 million settlement offering compensation to 16.5 million current and former Honda and Acura owners and lessees of vehicles made since 2001.
Honda, which made the most recalled vehicles with Takata air bags, will be entitled to a 20 percent discount by offering a free rental or loaner car policy, bringing its total cash payout down to $484 million. The agreement comes “without any admission of liability or wrongdoing.”
The proposal filed with U.S. District Judge Federico Moreno in Miami comes with a program intended to accelerate the removal of defective air bag inflators, which generated the largest vehicle recall in U.S. history affecting nearly two dozen brands, plaintiffs attorneys said.
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