Purpose

I will try my best to provide detailed info on various cars and what is like to live with them, I have already produced a few for Jaguar-car-forums, I will do my best to be unbiased, but it will be hard for some cars. I will re-produce press releases and copy from other motoring news.

Tuesday, 24 May 2016

Mercedes sets aside $560Bn dollars to pay for the Takata Airbag fixes that a large number of its models require.

Daimler said Thursday it would set aside around 500 million euros ($560 million) this year for the recall of some of its vehicles, which contain airbags made by Takata Corp.

The continued issues surrounding the airbag companies failure to get these faulty airbags replaced is becoming a major hindrance to many brands, and the costs associated with this problem is amounting to many billions of Dollars.

Earlier this month the U.S. National Highway Traffic Safety Administration disclosed an extension of the Takata airbag recall, which will take place in the period May 2016 to December 2019 in several stages. 
Daimler said that it was not aware of any cases of defect, but that it would make precautionary recalls in the U.S. and Canada.
"Daimler AG will recognize a provision in the mid hundreds of million euros in the financial year 2016 in connection with the extended recall," the company said, adding that it would not have an impact on its operating profit for the year, which is still seen slightly higher than last year.