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honda recall

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Shares in Japanese airbag maker Takata fell as much as 3.5% in morning trade before recovering, as media reports suggested more recalls over faulty airbags supplied by the company.

An additional 20 million Takata airbags would be recalled by car maker Honda, Nikkei newspaper reported on May 8.

Honda shares rose 1.6% in Tokyo, while Takata shares closed 0.3% down.Takata airbag recall 2015

Meanwhile Nikkei 225 index rose by 0.7% to close at 16,216.03, following last week’s gains in the US.

In China, shares fell in response to the disappointing trade data released on May 8, which showed that both exports and imports fell more than expected in April.

The mainland benchmark Shanghai Composite fell 2.8% to close at 2,832.11 points while Hong Kong’s Hang Seng fared better. That market index closed up 0.2% at 20,156.81.

In South Korea, the Kospi index fell 0.5% to close at a one-month low, at 1,967.81 points.

Australia’s benchmark ASX/200 rose 0.5%, closing at 5,320.70.

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A bid by Takata and Honda to end a class action lawsuit representing millions of owners of cars with potentially faulty air bags has been rejected by a Miami court.

Air bag maker Takata along with other carmakers will continue to face the lawsuit that alleges that they violated anti-racketeering laws, district judge Federico Mareno ruled.

The companies have been moving quickly to settle US death claims.

Over 19 million US cars have been recalled since 2008 due to the air bags.Honda Takata air bag

The two compaies have agreed to undisclosed settlements for six of the eight deaths linked to ruptured Takata airbag inflators in Honda vehicles.

Takata’s air bag inflators use ammonium nitrate and can deploy with too much force, spraying metal shrapnel.

A Honda spokesman told Reuters that the Japanese auto giant had been working quickly to settle the claims and had worked in good faith to resolve the concerns of the families affected.

However, the judge ruled on December 2 that the lawsuit still stands.

The lawsuit claims that owners overpaid for the cars with the faulty air bags and that the value of those vehicles has been reduced by the recalls.

Globally, tens of millions of cars with Takata airbags have been recalled since 2008.

Honda – Japan’s third biggest automaker – has been the hardest hit with 24.5 million cars recalled – more than half the global total.

Last month, Honda announced that it would no longer use front air bag inflators made by Takata, after the equipment maker was fined $70 million by the US auto safety regulator.

Honda was Takata’s biggest air bag customer and made up about 10% of Takata’s global sales.

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Honda and Daihatsu have decided to recall some 5 million cars globally to replace potentially deadly airbag inflators made by Takata.

The move comes just a day after rivals Toyota and Nissan said they would be recalling 6.5 million vehicles over the same issue.

So far, the six deaths linked to Takata airbags have all been in Honda cars.

In April, Honda cut its profit growth forecast after missing the mark last year on recalls and other issues.Honda recall Takata airbag

Honda said that the models affected included the Fit subcompact and would not affect its cars sold in the US, where most of the deaths occurred.

It plans to use replacement parts supplied by Sweden’s Autolive, Japan’s Daicel and Takata in the recalled cars.

Daihatsu, meanwhile, said it would recall the Mira minicar.

Other than Honda, all other carmakers said the recalls were precautionary and no accidents or injuries had been reported.

Investigations did show that Takata airbag inflators were not properly sealed and could be damaged by moisture. It is alleged that the airbags can burst under pressure, spraying shrapnel inside the car.

The latest announcements bring the total number of cars recalled because of Takata’s airbags to about 36 million since 2008.

The car equipment maker faces multiple class action lawsuits and criminal and regulatory investigations in North America.

Following the latest recall, Takata’s shares were down 5.6% in Tokyo.

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Honda Motor Co has widened its recall for the defective airbags by another 170,000 vehicles globally, taking its total recalls to nearly 10 million vehicles fitted with potentially defective Takata airbag inflators since 2008, including US region-specific recalls.

The Japanese carmaker said on November 13 that a driver in Malaysia died in July after being hit by shrapnel from an airbag supplied by Takata Corp – the fifth such fatality and the first outside the United States.

Honda recalled nearly 10 million vehicles with potentially defective Takata airbag inflators since 2008

Honda recalled nearly 10 million vehicles with potentially defective Takata airbag inflators since 2008

Before Thursday’s disclosure, Takata airbags had been linked to four deaths in Honda vehicles in the US. All the victims were hit by shrapnel ejected by the airbag.

Defective Takata airbags are the target of a US safety investigation over the risk they could explode with dangerous force in an accident and shoot metal shards into the vehicle. More than 17 million vehicles made by nearly a dozen different automakers have been recalled globally for flawed Takata airbags since 2008.

In the Malaysia accident on July 27, involving a 2003 Honda City model, the air bag inflator ruptured and sent shrapnel into the vehicle, some of which struck the female driver, Honda said.

Honda learned of the incident on August 27 and notified Japan’s transport ministry on September 10.

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