Arizona residents may have heard that Toyota and three other car companies have reached a proposed settlement involving millions of owners impacted by the Takata airbag recall. Documents were filed in a Miami federal court that indicate the settlement will be worth $553 million. The money would be used to compensate owners of the recalled vehicles as well as increase efforts to repair those vehicles.
Specifically, the settlement would provide compensation for child care or lost wages incurred while a vehicle was taken in for repairs. Those involved in the settlement may also receive money for the cost of any rental car or vehicle storage costs incurred. Finally, payments of up to $500 may be made to vehicle owners affected by the recall. However, the terms of the settlement must still be approved by a judge.
According to the National Highway Transportation Safety Administration, only 32 percent of Toyota owners have completed the recall. The settlement would require automakers to do more in an effort to locate those who have yet to have their vehicles fixed as per the recall. Takata airbags have been linked to 16 deaths and 180 injures around the world because of a faulty inflator. All told, the recall involved 69 million air bag inflators and 42 million vehicles, which was the largest recall in United States history.
Those who are injured while using a faulty product may wish to file a personal injury lawsuit under the theory of products liability. An attorney may prove that a design defect led to the injuries, and if successful, an individual may be entitled to compensation for medical bills, lost wages and other applicable losses.