Takata airbag could cost the Tokyo-based company $24 billion

The Takata airbag scandal could cost the Tokyo-based company $24 billion



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The total cost of its exploding airbag crisis could cost the Takata Corporation as much as $24 billion, according to analysis from the Tokyo-based company.



Takata has been executing recalls for the past several years to replace airbag inflators that have propensity for exploding and propelling shrapnel at drivers. The recall effort began in 2004, but injuries and deaths from the exploding inflators continue to be reported.



While safety regulators, like the National Highway Traffic Safety Administration have allowed Takata time to remedy the situation but patience is wearing thin, according to a report from Bloomberg, and a total recall could be in order.



The $24 billion is just a worst-case scenario project, but if Takata is forced to execute anything even close to a total recall, it could be crippling for the company. Takata has sold roughly 287.5 million airbag inflators to automakers around the world since 2001, including Honda, Ford, Mercedes-Benz, Saab, Volkswagen and Audi, according to a report from Reuters.





Some of the total recall costs could be absorbed by the automakers involved, but that would have to be negotiated between all the parties. Either way, the future looks grim for Takata.



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