According to a February report by an independent panel, more than 10 automakers have recalled more than 20 million vehicles in the US since 2008 to replace Takata’s airbags.
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Honda had the biggest recall total on Friday with more than 4.5 million inflators, while Fiat Chrysler reported 4.3 million.
Japan’s Takata this month agreed to declare as many as 40 million additional airbag inflators defective by 2019 in a move that will involve recalls by 17 automakers.
Additional recall notices are expected in the coming days linked to the first phase of the new Takata recalls. Before Friday’s announcement, 28.8 million airbags had been recalled in 24 million vehicles.
“There’s a question mark over whether an overseas investment fund will really exert a lot of effort to restructure Takata, because they may just sell it to others”.
Takata inflators can explode with too much force and spray metal shrapnel into vehicle passenger compartments. At least 11 people have died worldwide and over 100 have been hurt. As a result, owners of affected vehicles for which there are no immediately available replacement parts will be informed of the recall in an initial notification letter in July 2016.
The U.S. has been particularly hard-hit by the recalls, but isn’t the only nation affected.
Takata and KKR spokeswomen declined to comment on the report, which drove up shares in the company by its daily limit to trade 21 percent higher. The recalls have been ordered because regulators feel the inflators are too unsafe to wait until that is pinpointed.
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Faced with huge costs of the recalls and penalties, Takata is seeking a solution that allow it to remain in business. The jury is still out on whether Takata will have to recall millions more inflators with the drying agent. The company is also certain to face class-action lawsuits.
