Toyota (TM) - Get Toyota Motor Corporation Report, BMW (BMWYY) , Mazda (MZDAF) , and Subaru (FUJHY) - Get Subaru Corporation ADR Report today agreed to a $553 million settlement to address class-action economic loss claims covering owners of about 16 million vehicles with potentially defective Takata undefined airbag inflators, Reuters reports.
Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million.
Takata airbag inflators, which can explode with excessive force and project metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide.
The safety defect has prompted global recalls of about 100 million airbag inflators by more than a dozen major automakers.
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