Ford to Pay $299.1 Million to Settle Takata Consumer Lawsuit
- Consumers claim economic losses caused by exploding air bags
- Deal follows earlier pacts with Toyota, Honda, other companies
Photographer: Daniel Acker/Bloomberg
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Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls.
The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners or lessees of Ford vehicles who are waiting for their air bags to be fixed, according to the pact. The settlement will also increase outreach efforts to find consumers whose vehicles still have defective air bags.