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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

BMW reveals full details on M235i Racing

We were suitably excited when BMW first announced the imminent arrival of the M235i Racing. After all, what's not to like about a factory-prepared racecar with 333 horsepower you can pick up for just eighty grand? Now BMW has released the full details on the latest addition to its racing portfolio, where it joins the M3 DTM, M3 GT4, Z4 GTE/GT3 and 320 TC in a growing family of competition machinery prepared by BMW Motorsport.
Based on the new 2 Series coupe, the M235i Racing is the first M Performance model for the track, and boasts the line's most powerful engine: the 3.0-liter twin-turbo straight six has been optimized to 333 horsepower and 332 pound-feet of torque. A mechanical limited-slip differential helps transfer the power to the track surface, along with race-tuned ABS, DSC and traction control.
Four-pot calipers up front and two-pot calipers in the rear shave off speed for the corner and are packed inside the 18-inch alloys, with KW dampers and H&R suspension components. Inside there's a six-point racing harness and Recaro bucket surrounded by an FIA-certified roll cage, and customers can even have an extra seat installed to take passengers for ride-alongs. All of which can be yours for €59,500.00 - equivalent to $82k at today's rates, before taxes.

2015 Morgan Aero 8 shows a host of upgrades to the Swiss crowds [w/video]

With over 1,250 units made, the Morgan Aero model line has been in production for 15 years – just a blink of an eye for the Morgan Motor Company. The automaker has been in business for over a century and has had a tendency to keep its vehicles in production for decades with frequent upgrades keeping them modern. At the Geneva Motor Show, the company is shaking up the range with a thorough revision for the 2015 Aero 8. Hidden beneath the vintage styling is an improved aluminum chassis with better torsional rigidity and an improved suspension setup. Power comes exclusively from a 4.8-liter V8 from BMW making 367 horsepower, and the Bavarian brand also supplies a new limited-slip differential to get power down at the rear. Buyers can choose between a six-speed manual and a six-speed automatic gearbox. At first glance, the latest Aero 8 bares all the hallmarks of Morgan's classic style with a long hood, prominent shoulders and short rear. The new version is exclusively available as a convertible, although, as these photos show, an optional hardtop is available. The aluminum body is also slightly altered with better aerodynamics up front, and the most obvious change comes at the rear where there's now a clamshell design. The interior also received a new, though still retro-looking dashboard design, and Morgan is touting its improved air conditioning system that reportedly works better in hot weather. Buyers wanting to eschew some of the supple leather inside can opt for a set of carbon seats, instead. With the introduction of the latest Aero 8, Morgan is ending production of both the Aero SuperSports and Coupe in April. Production of the new model then commences in the fourth quarter. Check it out on the Swiss show floor in the gallery above, and see the convertible in motion on some snowy British roads below. Introducing the new Morgan Aero 8 Over 1250 Aero platform cars delivered since 1st generation launch in 2000. New Aero 8 signifies return to soft top motoring within the current Aero range. Significant changes to the aluminium chassis, suspension and vehicle aerodynamics. Powered by a 4.8 litre V8 BMW engine producing 367bhp. Available with 6 speed manual or automatic transmission (with paddle shift). New Hand sculpted aluminium body and revised interior styling. Largest options list of any Morgan sports car to date. The Aero SuperSports and Coupe cease production in April 2015. Production begins during quarter 4 of this year.