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4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

World Car of the Year finalists announced

To say the 2014 Geneva Motor Show was packed full of news is an understatement as big as the show's home at the Palexpo convention center. Despite everything that we were able to cover during this year's show, there's still more coming out of Switzerland, including the announcement of the finalists for the 2014 World Car of the Year Awards.
We reported on the original list of finalists over three weeks ago, and now, that initial list has been pared down to three finalists for each of the five awards. The finalists were announced at a press conference by frequent Autoblog contributor and co-chair of the awards, Matt Davis (above).
The finalists for the overall title of 2014 World Car of the Year are the Audi A3, the BMW 4 Series and the Mazda3. The World Luxury Car of the Year will be either the Bentley Flying Spur, the Mercedes-Benz S-Class or the Land Rover Range Rover Sport, while the Performance Car of the Year will be awarded to the Chevrolet Corvette Stingray, the Ferrari 458 Speciale or the Porsche 911 GT3 (which, um, yeah...).

Lexus tops Consumer Reports reliability rankings, unseating Mazda

Lexus is back on top of Consumer Reports' annual reliability rankings. Toyota Motor Corp's luxury division dethrones last year's winner, upstart Mazda, to second place, while the Toyota brand itself rounds out the podium in third place. In general, while Asian brands topped the list, Europeans ranked second, and domestics brought up the rear.  Lexus' high marks stem from the Land Cruiser Prado-based GX SUV, which got a perfect score of 100. Mazda's second place finish was the result of strong showings by the Miata, CX-9, CX-5, and CX-30, but dragged down by the Mazda 3's mid-pack score. Likewise, nearly all of Toyota's lineup, from Prius to Avalon, all had very high marks, but the RAV4 and Corolla Hatchback brought down the class average. Like last year, the only American brand to break into the top ten was Buick, which ranked 5th thanks to good scores for the Envision and Encore (though the Enclave ranked sub-par). Eight of the top 10 brands were Japanese, with Infiniti in 4th, and Honda, Subaru, Acura and Nissan following Buick in that order. Mini, in 10th place, was the only European brand in the top 10. The bottom spots went to Jeep, Tesla, and once again Lincoln in dead last. While all Lincolns received poor scores, the Aviator was notable for getting only 3 points out of 100. Similarly, last year's lowest-scoring vehicle was the Ford Explorer, with which the Aviator shares a platform. It wasn't all gloom from the domestics, however. The Chevrolet Trailblazer tied the Lexus GX with a perfect score, but overall Chevy brand ranked 14th, pulled down by the Corvette, Silverado 1500 and Tahoe. The Tahoe tied with the GMC Yukon with the lowest scores this year, just 2 points each. Both the Silverado 2500HD and the nearly identical GMC Sierra 2500HD were among to top scoring American vehicles, along with the Ford Bronco Sport, Mustang Mach E, Ranger and Chrysler 300. Consumer Reports also points out that the oft-said line that electric vehicles are less prone to problems due to fewer moving parts isn't necessarily true. The Audi E-Tron and Tesla Model X each got a score of 5, the lowest of their respective brands, due to more and more technology being crammed into these higher-priced EVs. For a complete list of rankings by company and of individual models, check out the full study at Consumer Reports. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.