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Four car makers settle claims over Takata inflators for $553 million

Staff Writer |
Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million recalled vehicles with potentially defective Takata airbag inflators, court documents showed.

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Toyota Motor Corp's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda Motor at $76 million and Subaru Corp at $68 million.

While the settlement does not mean an end to legal headaches faced by Takata or its car maker clients, the resolution could help the embattled Japanese air bag maker's efforts to search for a financial sponsor by removing one litigation uncertainty.

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