Motor Co. approved the so-called economic loss of $299.1 Million, for 6 Million cars in the US with potentially defective Takata airbags, according to judicial documents filed on Monday in a federal court in Miami.
The resolution covers various forms of economic damage related to inflators, including accusations that vehicles were poorly represented; buyers had overpaid for the defective cars with poor-quality airbags and went through out of pocket expenses to deal with the recall.
Six automakers have already accepted to pay the loss worth more than $ 1.2 Billion, including Subaru Corp, Honda Motor Co, Mazda Motor Corp; Toyota Motor Corp, BMW AG, and Nissan Motor Co.
Worldwide, at least 23 deaths are associated with the rupture of defective inflators in the Takata airbag. This problem led to the largest recall in the history of the automotive industry, which involved around 100 Million are inflators among 19 key automakers.
More than 290 injuries around the globe are also associated with Takata airbag inflators, which could explode, causing metal chips in cars and trucks.
To date, Honda cars reported 21 deaths and two in Ford cars. Ford said in a statement that it is still focused on working with our customers to repair their vehicles.
The settlement also covers reimbursable expenses, including childcare costs and lost wages that Ford owners may or have already incurred for car repairs. According to the rules, Ford will also provide owners of recalled cars awaiting repair in the absence of spare parts, leased or rented cars.
In total, nearly 30 Million American cars are not being repaired during the recall.
Takata last year pleaded guilty to fraud related to the investigation of the US Department of Justice investigation and agreed to a $1 Billion settlement.
“It is necessary that manufacturers take all possible measures to bring the fatal airbags to every homeowner and take measures to replace these unsafe airbags as soon as possible,” said Heidi King, the deputy administrator the U.S. National Highway Traffic Safety Administration.