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Beleaguered Takata unlikely to seek automaker assistance

Takata is continuing to deal with the massive airbag recall for millions of vehicles, but even if it doubles production, it could take years the company to build enough replacement parts to properly repair all of the affected models. If the supplier takes a hard enough financial hit whether through fines, lawsuits or just the cost of making the components, then the business might not be able to keep up production. Such a situation could put automakers in the very difficult predicament of deciding whether to provide Takata with financial assistance. Honda for one has little interest in lending further support to the beleaguered supplier, according to The Wall Street Journal. The Japanese automaker recently dropped its annual sales targets to put a larger emphasis on vehicle quality, partially in response to the inflator recall. It also struck a deal with another company for replacement parts and was rumored to abandon Takata for some future business. Honda CEO Takanobu Ito did leave the door barely cracked for possible aid. "Takata itself needs to figure out how to fulfill its duties, but if it makes any request to automakers, then we would think about that," he said, according to The Wall Street Journal. There isn't much likelihood of Takata needing a bailout, though. According to The Wall Street Journal, analysts aren't concerned about the company's short-term fortunes, and the supplier had about $728 million in cash as of last September. News Source: The Wall Street Journal - sub. req.Image Credit: Toru Yamanaka / AFP / Getty Images Earnings/Financials Recalls Honda Safety Takata airbag recall

Takata airbags linked to seventh death

A seventh fatality may be linked to Takata's faulty airbag inflators, based on a recently filed lawsuit in Louisiana. The case alleges that a 22-year-old woman there died in April following injuries from an accident while driving in a 2005 Honda Civic. She reportedly received the mailing about the airbag safety campaign two days after the crash, according to Bloomberg. The accident occurred on April 5 when the vehicle hit a utility pole. The driver's airbag deployed but allegedly sprayed metal shrapnel at the woman. "When she was in the hospital, they did exploratory surgery and found no other injuries," said Kenneth D. St. Pe, the lawyer for the driver's mother who filed the lawsuit, according to Bloomberg. "Her sole injury was that her throat was cut open." In a portion of a statement from Honda to Autoblog, the automaker says: "Honda is now in communication with representatives of the family in an effort to gather further information in order to better understand the situation." The Takata airbag inflator recall was expanded in May to cover 34 million vehicles in this country from 11 automakers. Up until now, the faulty parts have been potentially linked to six deaths, including five in the US and one in Malaysia, plus many injuries. Honda and Takata are facing at least two dozen lawsuits in Florida for claims related to the bad components. So far, the evidence suggests that exposure to moisture causes the propellant to ignite too quickly and cause these ruptures. However, many people aren't getting the problem fixed. Honda Statement: Honda was recently notified of the crash of a 2005 Honda Civic in Louisiana on April 5, 2015 that later resulted in the death of the driver. The crash may have resulted in the rupture of the Takata driver front airbag inflator. Honda is now in communication with representatives of the family in an effort to gather further information in order to better understand the situation. Related Video:

Honda shifts CR-V production to Canada as UK focuses on Civic

Honda is reshuffling its global production in a somewhat bizarre way. Under the newly announced plans, the European version of the CR-V will no longer be assembled locally, but the region will become the hub for some Civic production. As part of this new strategy, Honda's Canadian manufacturing operations will become responsible for building the next-gen version of the European CR-V. Once assembled, the popular crossovers will then be exported back across the Atlantic. The investment to make these changes comes from 875 million Canadian dollars ($690 million) already allocated by Honda for expansion there. The current European CR-V (pictured above) is made in Swindon, England, and with that model moving to Canada, the site fulfills the second part of this production shuffle. Honda will invest 200 million pounds ($300 million) there to make the location a global production hub specifically for the next-gen Civic five-door hatchback. The examples made in the UK will be not just for Europe but also will be "exported to key global markets," according to the automaker. Honda now confirms one of those markets to be the US, and a recent rumor suggests the company sending over around 40,000 of them a year. Related Video: HONDA OF CANADA MFG. EXPANDS EXPORT DESTINATIONS WITH EUROPEAN SPEC CR-V ALLISTON, ON (March 30, 2015) – Honda of Canada Mfg. (HCM), a division of Honda Canada Inc., announced today that it will produce the next generation CR-V model for the European market. This will be the first time that HCM will export vehicles to Europe. Today's news follows Honda's recent announcement that it will invest $857M in its Canadian facilities, as it prepares for production as the global lead plant for the next generation Honda Civic, Canada's best-selling passenger car for the past 17 years. "Honda is thrilled to once again have good news for automotive manufacturing in Canada by broadening our production portfolio to include exports to the European market," said Jerry Chenkin, President and CEO of Honda Canada Inc. "This expansion decision was made possible due to our deep, mature, and rich talent pool with nearly 30 years of automotive manufacturing experience. We are so proud that our Canadian associates have the reputation of producing high quality vehicles that will meet the needs of the discerning European customer." The announcement further solidifies Honda's already deep roots and commitment to Canada.