🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Australia orders recall of further 1.1 million cars fitted with Takata air bags

Published 28/05/2018, 08:32 am
© Reuters.  Australia orders recall of further 1.1 million cars fitted with Takata air bags
VOWG_p
-
NSUG
-
7203
-

SYDNEY, May 28 (Reuters) - Australia on Monday increased the size of its biggest compulsory product recall as it said an additional 1.1 million cars fitted with Takata Corp TKTDQ.PK air bags would be recalled.

Australia earlier this year demanded that manufacturers of nearly 3 million vehicles that carried the air bags, linked to at least 18 deaths and 180 injuries globally because the inflators can rupture and shoot metal fragments into vehicles, pay for replacements. air bags must be replaced by Dec. 31, 2020, or the manufacturers will face fines of A$1.1 million ($857,000) per breach of the order.

Once complete, the Australian Consumer and Competition Commission said vehicles from manufactures including Audi NSUG.DE , Ford F.N , Volkswagen VOWG_p.DE and Toyota 7203.T would be recalled at a later, unspecified date.

Pressure is growing on manufacturers globally to meet recall timetables.

The U.S. auto safety agency said earlier this month it wanted to meet with 12 major automakers that failed to fulfil a December 2017 target deadline for completing repairs on the highest-priority vehicles with dangerous Takata air bag inflators. June 2017, Takata filed for bankruptcy as it sought court protection from creditors after almost a decade of recalls and lawsuits.

($1 = 1.3236 Australian dollars)

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.