Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

South Korea to widen Takata air bag recall by 110,000 vehicles

Published 09/28/2016, 02:45 AM
Updated 09/28/2016, 02:50 AM
© Reuters.  South Korea to widen Takata air bag recall by 110,000 vehicles

SEOUL (Reuters) - South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's (T:7312) defective air bags, the latest development in a long-running safety crisis involving the Japanese company.

The United States in May announced a new round of recall of Takata's air bag inflators which have been linked to at least 14 deaths and more than 100 injuries and triggered the largest-ever auto recall. Since then, other countries have been announcing their own national recalls.

South Korea's transport ministry said a total of 221,870 vehicles made by 17 automakers have faulty Takata air bags. While 13 companies including Honda Motor (T:7267), Toyota Motor (T:7203), BMW (DE:BMWG) and Audi plan to recall some 110,000 of them, four others including General Motors (N:GM) and Mercedes-Benz have not decided on their global recall plans.

The ministry said those companies could face a fine or a 10-year prison sentence should they delay recalls.

In 2013, South Korea started recalls of some 50,000 vehicles with defective Takata airbags, with nearly 45 percent of the models having replacement airbags by June this year.

A number of global automakers are working to replace as many as 100 million defective air bag inflators worldwide. Takata airbag inflators can explode with too much force and spray metal shrapnel into vehicle passenger compartments.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.