Honda Reportedly Reaches $605M Settlement Over Takata Airbag Recall

The fallout from the Takata airbag recall has hit Honda pretty hard as Reuters is reporting the company has agreed to a $605 million settlement.

According to the publication, the settlement covers a variety of claims including everything from allegations the company “inaccurately represented” vehicles as safe. Owners will also be compensated for out-of-pocket costs, such as lost wages, they incurred while waiting for their vehicles to be equipped with replacement airbags.

While other automakers have reached similar settlements, Honda’s agreement is noteworthy due to its cost. As the report notes, the five other automakers settled for a combined cost of around $650 million.

Honda’s settlement covers approximately 16.5 million vehicles in the United States. Of these, 11.4 million are currently under recall and 5.1 million of the vehicles may be recalled at a later date.

The settlement also calls on Honda to attempt to speed up the replacement of the faulty airbags which have been blamed for the deaths of at least 18 people. The recall contintues to be a global problem and it pushed Takata into bankruptcy earlier this year.

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