Honda Agrees to Economic Loss Settlement Over Faulty Airbags

Honda agreed to a $605 million economic loss settlement earlier this month over its defective Takata airbag inflators. The settlement will cover car owners’ damages related to the airbags, including out-of-pocket costs and lost wages customers incurred while having their vehicles repaired for the recalls. Claims that vehicles were inaccurately represented as safe, and that buyers overpaid for vehicles with substandard airbags, will also be covered with the economic loss settlement.

Additionally, part of the money will go toward speeding up the pace of the recall and the replacement of the recalled parts.

Honda Most Affected by Takata Airbag Defect

Five other automakers have agreed to similar settlements totaling about $650 million. However, Honda is by far Takata’s largest customer. Seventeen of the 18 deaths caused by the defective airbags happened in Honda vehicles.

Since 2013, 19 automakers have recalled more than 42 million vehicles over the defective airbags. Takata expects the recall will eventually expand to include 125 million vehicles worldwide. The Takata airbag recall is the largest auto safety recall in history.

“These airbag inflators pose an imminent safety risk to many drivers. It is time automakers sped up the recall,” said Attorney Walter Clark, founder of Walter Clark Legal Group.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the California personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured by a defective product and want to discuss your legal options, contact us today for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, and Yucca Valley and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.

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