Honda sets aside $605 million to settle Takata airbag claims

The Takata airbag scandal affected several companies, but Honda felt its impact the most. Now, the Japanese automaker has agreed to a $605 million settlement to pay for buyers’ claims related to the deadly airbags in the US. The money Honda set aside will go towards paying for all the out-of-pocket costs and lost wages customers might have incurred from having to get their Takata airbag-equipped cars repaired. According to Financial Times, part of that amount will also be used to create an outreach program designed to speed up the pace of the recall as well as the replacement of recalled parts.

Source: Honda sets aside $605 million to settle Takata airbag claims

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