BMW, Mazda, Subaru and Toyota to pay $553 million to Takata claimers image

These are actually only the first of a total of 19 affected companies that need to reach a settlement in the United States in what has become the most extensive recall in automotive history.

Four manufacturers – BMW, Mazda, Subaru, and Toyota – have signed a settlement totaling $553 million dollars as part of the biggest single automotive recall of all time. The money will be used to fund programs designed to “increase recall remedy completion rates for Takata airbag inflators, among other customer benefits.” The initiatives include an outreach program to help the recall and repair process, a rental car program to deliver loaner vehicles upon request and there’s also an out-of-pocket claims and residual distribution program for owners asking for “reasonable out-of-pocket expenses related to the Takata airbag inflator recalls.”

The automakers will also set up a customer support program to further help the repairs – for the ones recalled right now as well as for any potential addition. The joint statement also reminded everyone the automakers deny any liability or admission of guilt for the defect. The Takata airbag recall will see more than 42 million vehicles in the United States alone in need of repairs – the Japanese parts maker admitted to criminal charges this year and according to reports it’s thinking about bankruptcy.