Takata 'Prepares to Declare Bankruptcy'

[Scout]

Takata, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems, sources said on Thursday.

 

 

 

 

https://www.google.com/amp/amp.timeinc.net/fortune/2017/06/16/takata-bankruptcy-air-bag/%3Fsource%3Ddam

I'm really surprised it took this long. So what does this mean for all the people who have active recalls?

[G. David Felt]

Yea, I agree, I am also very surprised it took this long, course according to the last reports, they still have millions and millions of airbags to replace under recall. My gut tells me they dragged this out as long as possible to finish stealing every cent the company had before declaring bankruptcy and dumping the company.

The brand name is dead, no one wants a product from them. Gotta wonder who is building the replacements as the auto companies are struggling to get them built and replaced last time this subject was discussed.

[cp-the-nerd]

Not only do they have more yet to recall, but I read they were still installing *new* Takata airbags with defect knowing they'd be a future recall after 5-10 years when they degrade.

I'm not even sure where this situation is headed for automakers with affected cars.

[A Horse With No Name]

13 minutes ago, cp-the-nerd said:

Not only do they have more yet to recall, but I read they were still installing *new* Takata airbags with defect knowing they'd be a future recall after 5-10 years when they degrade.

I'm not even sure where this situation is headed for automakers with affected cars.

A mess.  One local dealer who sold a wide product range was telling me of how they ahve a whole bunch of cars with Takata Airbags that were not able to be sold...at the time they also had a bunch of VW diesel that had been sitting for a couple of years.

I see a real parallel between table saws and cars, oddly enough.  Liability is so high with table saw accidents that there are companies that have not manufactured table saws since the 1950's or 1960's that will not even admit they (or the parent company that has since been bought out and re sold multiple times) even made table saws.

Emerson, the parent company responsible for the Sears Craftsman radial arm saws, is buying back and destroying saws as old as 1958 (so yeah almost 60 years ago) because of liability concerns.

Link below;

http://www.radialarmsawrecall.com/

I could almost see a lease situation for modern car where they have say a ten year engineered life and then they are bought back and destroyed.  See the thread I posed up about the Rusty NB Miata frame in the lounge....the Nb series (second generation) of Mazda Miata was built from 1999 to 2005.  if a car that new can rust like that, and Toyota Trucks had frame issues, and GM had key/ignition issues...and....  and... and.... and.....on and on...with all of the technology and sensors...

Cars may become very disposable appliances, like it or not.