Ford Motor agreed to a so-called economic loss settlement of $299.1 million concerning at least 6 million U.S. vehicles with potentially defective Takata air bag inflators, court documents filed in a federal court in Miami on Monday revealed.
The settlement covers several types of economic damages connected to the inflators, consisting of claims that vehicles were inaccurately represented to be safe, purchasers had overpaid for vehicles with defective or substandard air bags and faced out of pocket expenses to deal with recalls.
Six automakers have earlier agreed to comparable settlements worth more than $1.2 billion combined, including: Honda Motor; Toyota Motor; Nissan Motor; Mazda Motor; Subaru and BMW AG.
At least 23 deaths across the world are linked to the rupturing of defective Takata air bag inflators. The issue has sparked the largest vehicle industry safety recall in history, associating about 100 million inflators among 19 significant automakers.
Over 290 injuries worldwide are also connected to Takata inflators that can explode, unleashing metal shrapnel in the cars and trucks.
To this day, 21 deaths have been reported in Honda vehicles and two in Ford automobiles.
Ford stated it remains “focused on working with our customers to get their vehicles repaired.”