Massive Airbag Recall Campaign Makes Takata Bleed Money

Takata expects to be in the red this year too, as airbag inflator recalls may increase to nearly 120 million units worldwide.

The Japanese company expects a net loss of 13 billion yen ($121 million) for the year that ended on March 31, which is at the opposite pole of previous forecasts that indicated a 5 billion yen ($46 million) profit, according to Takata, quoted by Autonews.

The number adds to the previous year’s net loss of 29.6 billion yen ($276 million) and has made Takata seek financial sponsors to replenish its capital and allow it to resurrect as a new company.

Japan and automakers in other markets are believed to follow the United States in recalling all airbags that use ammonium nitrate and lack a moisture-absorbing desiccant, which is the main factor behind the ruptures and shrapnel spraying into the cabin, following impacts that trigger the airbags.

At least 13 motorists have lost their lives in the United States and Malaysia and more than 100 have been injured worldwide in accidents related to this particular defect. The last two deaths linked to Takata were announced by Honda Malaysia, after two City cars were found to have their airbag inflators ruptured. In the United States, the last person killed by the problematic airbags was a 17-year old girl driving a 2002 Honda Civic on March 31 in Texas.

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