Takata Bankruptcy: Airbag Scandal Finally Brings Company Down

Robbie Clark June 26, 2017

Embattled airbag maker Takata has filed for Chapter 11 bankruptcy protection in Japan and the U.S. The Takata bankruptcy announcement comes as the Tokyo-based company was trying to survive amid an ongoing scandal involving faulty airbag components.

The defective car safety parts, which can explode and blast shrapnel onto car drivers and passengers, are the alleged cause of at least 17 deaths worldwide, 11 in the United States. The Takata airbags were allegedly also the cause of at least 180 of other motorist injuries and the subject of the largest automotive recall in history.

Sold to Rival Parts Supplier

Under the bankruptcy agreement, Takata will begin to dismantle itself in phases. The first stage will see the company’s assets, such as factories, sold to rival auto parts supplier Key Safety Systems. The transaction is valued at $1.6 billion.

As a part of the agreement with Key, a small portion of Takata’s facilities will continue to operate to produce replacement pieces for the recalls. The parts recall affects 19 automakers.

Takata’s president Shigehisa Takada told reporters at a conference on Monday that he would step down once the transaction with Key Safety Systems was complete.

At least $1 billion from the transaction from the sale to Key will help satisfy a settlement of criminal charges in the U.S. The U.S. Justice Department brought suit against Takata, claiming the company intentionally concealed knowledge of the defective airbag pieces. Most of settlement money, $850 million, will be used to reimburse automakers for covering the cost of the recalls.

The Largest Automotive Recall in History

Currently more than 100 million airbags have been recalled globally. That’s the largest automotive-related recall in history. Around 69 million of the recalls are in the U.S., and they affect about 42 million vehicles.

In Japan, more than 70 percent of the recalled airbags have been replaced. However, in the U.S. only 36 percent have been replaced. With that number so low, it means it could be a long time before car owners in the U.S. can get their replacement parts, which unfortunately could result in more vehicular deaths or injuries.

List of Affected Vehicles with Takata Airbags

USA Today published a current list of the vehicles involved in the Takata airbag recall:

Acura

2003 Acura 3.2CL
2002-2003 Acura 3.2TL
2013-2016 Acura ILX
2013-2014 Acura ILX Hybrid
2003-2006 Acura MDX
2007-2016 Acura RDX
2005-2012 Acura RL
2009-2014 Acura TL
2009-2014 Acura TSX
2010-2013 Acura ZDX

Audi

2006-2013 Audi A3
2005-2008 Audi A4 Avant
2006-2009 Audi A4 Cabriolet
2005-2008 Audi A4 Sedan
2010-2011 Audi A5 Cabriolet
2003-2011 Audi A6 Avant
2005-2011 Audi A6 Sedan
2009-2012 Audi Q5
2017 Audi R8
2008 Audi RS 4 Cabriolet
2007-2008 Audi RS 4 Sedan
2005-2008 Audi S4 Avant
2007-2009 Audi S4 Cabriolet
2005-2008 Audi S4 Sedan
2010-2012 Audi S5 Cabriolet
2007-2011 Audi S6 Sedan
2016-2017 Audi TT

BMW

2008-2013 BMW 1 Series
2000-2013 BMW 3 Series
2002-2003 BMW 5 Series
2011-2015 BMW X1
2007-2010 BMW X3
2003-2013 BMW X5
2008-2014 BMW X6
2010-2011 BMW X6 Hybrid

Cadillac

2007-2014 Cadillac Escalade
2007-2014 Cadillac Escalade ESV
2007-2013 Cadillac Escalade EXT

Chevrolet

2007-2013 Chevrolet Avalanche
2007-2014 Chevrolet Silverado HD
2007-2013 Chevrolet Silverado LD
2007-2014 Chevrolet Suburban
2007-2014 Chevrolet Tahoe

Chrysler

2005-2015 Chrysler 300
2007-2009 Chrysler Aspen
2007-2008 Chrysler Crossfire

Daimler trucks and vans

2008-2009 Sterling Bullet
2007-2009 Dodge Sprinter
2007-2017 Freightliner Sprinter
2010-2017 Mercedes-Benz Sprinter

Dodge/Ram

2008-2014 Dodge Challenger
2006-2015 Dodge Charger
2005-2011 Dodge Dakota
2004-2009 Dodge Durango
2005-2008 Dodge Magnum
2003-2008 Dodge Ram 1500/2500/3500 Pickup
2005-2009 Dodge Ram 2500 Pickup
2007-2010 Dodge Ram 3500 Cab Chassis
2006-2009 Dodge Ram 3500 Pickup
2008-2010 Dodge Ram 4500/5500 Cab Chassis

Ferrari

2010-2015 Ferrari 458 Italia
2014-2015 Ferrari 458 Speciale
2015 Ferrari 458 Speciale A
2012-2015 Ferrari 458 Spider
2016-2017 Ferrari 488 GTB
2016-2017 Ferrari 488 Spider
2009-2014 Ferrari California
2015-2017 Ferrari California T
2013-2017 Ferrari F12
2016-2017 Ferrari F12 tdf
2016 Ferrari F60
2012-2016 Ferrari FF
2017 Ferrari GTC4Lusso

Fisker

2012 Fisker Karma

Ford

2007-2010 Ford Edge
2006-2012 Ford Fusion
2005-2006 Ford GT
2005-2014 Ford Mustang
2004-2011 Ford Ranger

GMC

2007-2014 GMC Sierra HD
2007-2013 GMC Sierra LD
2007-2014 GMC Yukon
2007-2014 GMC Yukon XL

Honda

2001-2012 Honda Accord
2001-2011 Honda Civic
2003-2011 Honda Civic Hybrid
2001-2011 Honda Civic NGV
2010-2015 Honda Crosstour
2002-2011 Honda CR-V
2011-2015 Honda CR-Z
2003-2011 Honda Element
2010-2014 Honda FCX Clarity
2007-2013 Honda Fit
2013-2014 Honda Fit EV
2010-2014 Honda Insight
2002-2004 Honda Odyssey
2003-2015 Honda Pilot
2006-2014 Honda Ridgeline

Infiniti

2003-2008 Infiniti FX
2001 Infiniti I30
2002-2004 Infiniti I35
2006-2010 Infiniti M
2002-2003 Infiniti QX4

Jaguar

2009-2015 Jaguar XF

Jeep

2007-2016 Jeep Wrangler

Land Rover

2007-2012 Land Rover Range Rover

Lexus

2007-2012 Lexus ES350
2010-2017 Lexus GX460
2006-2013 Lexus IS250/350
2010-2015 Lexus IS250C/350C
2008-2014 Lexus IS F
2012 Lexus LFA
2002-2010 Lexus SC430

Lincoln

2007-2010 Lincoln MKX
2006-2012 Lincoln Zephyr/MKZ

Mazda

2004-2009 Mazda B-Series
2007-2012 Mazda CX-7
2007-2015 Mazda CX-9
2003-2011 Mazda6
2006-2007 Mazda Mazdaspeed6
2004-2006 Mazda MPV
2004-2011 Mazda RX-8

McLaren

2016-2017 McLaren 570
2015-2016 McLaren 650S
2016 McLaren 675LT
2012-2014 McLaren MP4-12C
2011-2015 McLaren P1

Mercedes-Benz

2005-2014 Mercedes-Benz C-Class
2010-2011 Mercedes-Benz E-Class
2011-2017 Mercedes-Benz E-Class Cabrio
2010-2017 Mercedes-Benz E-Class Coupe
2009-2012 Mercedes-Benz GL-Class
2010-2015 Mercedes-Benz GLK-Class
2009-2010 Mercedes-Benz ML-Class
2009-2012 Mercedes-Benz R-Class
2007-2008 Mercedes-Benz SLK-Class
2011-2015 Mercedes-Benz SLS-Class

Mercury

2006-2011 Mercury Milan

Mitsubishi

2012-2017 Mitsubishi i-MiEV
2004-2007 Mitsubishi Lancer
2004-2006 Mitsubishi Lancer Evolution
2004 Mitsubishi Lancer Sportback
2006-2009 Mitsubishi Raider

Nissan

2001-2003 Nissan Maxima
2002-2004 Nissan Pathfinder
2002-2006 Nissan Sentra
2007-2012 Nissan Versa

Pontiac

2003-2010 Pontiac Vibe

Saab

2005-2006 Saab 9-2x
2006-2011 Saab 9-3
2006-2009 Saab 9-5

Saturn

2008-2009 Saturn Astra

Scion

2008-2015 Scion XB

Subaru

2003-2006 Subaru Baja
2009-2013 Subaru Forester
2004-2011 Subaru Impreza
2003-2014 Subaru Legacy
2003-2014 Subaru Outback
2006-2014 Subaru Tribeca
2012-2014 Subaru WRX/STI

Tesla

2012-2016 Tesla Model S

Toyota

2010-2016 Toyota 4Runner
2003-2013 Toyota Corolla
2003-2008 Toyota Corolla Matrix
2009-2013 Toyota Matrix
2004-2005 Toyota Rav4
2002-2006 Toyota Sequoia
2011-2014 Toyota Sienna
2003-2006 Toyota Tundra
2006-2011 Toyota Yaris (Hatch Back)
2007-2012 Toyota Yaris (Sedan)

Volkswagen

2009-2017 Volkswagen CC
2010-2014 Volkswagen Eos
2010-2014 Volkswagen Golf
2013 Volkswagen Golf R
2009-2013 Volkswagen GTI
2012-2014 Volkswagen Passat
2006-2010 Volkswagen Passat Sedan
2006-2010 Volkswagen Passat Wagon

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