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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

The 2016 BMW M2 is a steroid-addled M235i [UPDATE]

UPDATE: As it turns out, BMW mixed up the weight specs in the official press materials. We spoke to BMW for confirmation, and the manual M2 weighs 3,450 pounds, the DCT car weighs 3,505. We've updated the text to reflect this. If you're looking for a featherweight M235i, you'll be disappointed. The extra power and goodies are offset by negligible weight savings. When we first got behind the wheel of the M235i early last year, BMW was quick to point out the spiritual link between the small quasi-M car and its ancestors, the 2002 Turbo and the E30 M3, but we couldn't help but think fondly of the more potent 1M Coupe. And while the M235i got a lot of things right, its weight and price took some of the shine off it. But more importantly, the intangibles that those older BMWs nailed was somewhat lacking in the M235i – while fun, it was somewhat distant, unlike the visceral 1M. Until we drive the 2016 BMW M2, those intangibles will remain intangible. But on paper, the M2 looks to be a super-M235i, buffed up with M goodies like an active rear differential and lightened suspension components. But if you're looking for a featherweight M235i, you'll be disappointed. The extra power and goodies are offset by negligible weight savings. With the manual it weighs 3,450 pounds, an 85-pound reduction. With the DCT, it's a wash at 3,505 pounds. At least the M2 looks like a proper M car. The side bodywork swells 2.1 inches up front and 3.1 inches in the rear to accommodate wide 19-inch forged wheels wrapped in Michelin Pilot Super Sport tires. The front end takes the M235i theme (itself an adrenaline-injected version of lesser 2 Series cars) and adds steroidal menace, with the expected larger intakes to feed the extra engine radiator. Out back, there's a diffuser in the rear tray that the M235i lacks, and the scallops that incorporate the taillights plainly telegraph the extra rear width. It's the M4's handsome younger sibling. Like the M235i to which its clearly related, the heart of the M2 is a 3.0-liter inline-six that inhales through a TwinScroll exhaust manifold-integrated turbocharger. High-precision direct injection, Double-VANOS, and Valvetronic are all present and accounted for, with some M goodies like pistons and crank bearings trickling down from the M3 and M4. The result is 365 horsepower at 6,500 rpm and 343 pound-feet of torque available from as low as 1,400 rpm.

BMW will be featured marque at 2016 Goodwood Festival of Speed

As part of BMW's centenary celebration, it has been named the featured marque at the 2016 Goodwood Festival of Speed. That means we'll see plenty of Bimmers on track, but it also means a few will be hoisted in the air on this year's version of the famous Gerry Judah sculpture. That sculpture takes center stage on the Goodwood House's front lawn, blending metal with actual automotive machinery for a striking display that serves as the centerpiece for the entire Festival of Speed. This year, it will feature three race-ready BMWs – the 328 Mille Miglia Roadster, a Brabham-BMW BT52 Formula 1 car, and a Le Mans-winning V12 LMR. Consider the racing bases covered. And since this is England, it's only fitting that Rolls-Royce and Mini will stand alongside their parent company during this year's event – Rolls-Royce is headquartered down the road. BMW Motorrad will feature prominently, as well, and the M Brand will have its own "M Avenue," which will feature M cars sold over the past 40 years, including more than a few of the M cars our editors chose in their list of the greatest BMWs. You can also expect BMW's birthday present to itself, the futuristic Vision Next 100 concept, to receive a prominent placement at Goodwood. And of course historical and modern BMW models will be taking to the Goodwood Hill Climb course alongside the usual slate of performance vehicles, racecars, and concept vehicles from other brands. The 2016 Goodwood Festival of Speed runs from June 23 to 26. Related Video: