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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

AC Schnitzer packs 400-hp, tri-turbo diesel into 1 Series

At first blush, this might look like your run-of-the-mill BMW 1 Series, maybe with a few modifications. What you're actually looking at is a monster hot hatch with 400 horsepower and 590 lb-ft of torque. From a diesel. For this year's Essen Motor Show – Germany's equivalent to SEMA – the Bimmer specialists at AC Schnitzer prepared the ACS1 5.0d concept you see here. Its selling point (if only it were for sale) is the combination of BMW's most powerful diesel engine and its smallest model. It utilizes the 3.0-liter triple-turbocharged inline-six diesel engine from the M50d versions of the 5 Series, X5, and X6 sold in Europe. That engine is normally rated at 376 hp and 545 lb-ft, which is already a ton of muscle. But Schnitzer has bumped up the output on both counts, and slotted it into a 1 Series hatchback. The result is a 0-62 time of just 4.5 seconds, leaving the M135i and M235i in a cloud of diesel soot. Of course, Schnitzer has plenty more to showcase at Essen this year, including modifications for the 3 Series, X6 M, and Mini JCW. And you can bet all the other major European tuners will be on hand at the expo to show their wares, too. But as far as outlandish creations go, this monster diesel hot hatch is what's caught our attention. Compact and incredibly powerful The 1-series by AC Schnitzer with impressive motorsport quality At first sight, you do not expect brute force from the BMW 1-series. So the performance of the compact Bavarian after the AC Schnitzer tuning experts have equipped it with the M50d power plant and impressive performance upgrade, is even more incredible. Originally designed for the 5-series, the "Diesel M-Technik" pack propels the 1-series a long way forward. The smallest BMW series now has an impressive drive concept from AC Schnitzer. After the performance upgrade, the concept engine of the ACS1 5.0d delivers 294 kW/400 hp and 800 Nm torque for generous thrust. Equipped in this way, it takes just 4.5 seconds to sprint from 0-100 km/h. The acceleration from 80-180 km/h is even more impressive: the ACS1 5.0d takes just 7.9 second for this. The smallest of the compacts, the 114i, is already impressive thanks to a power increase by 52 hp to 154 hp. The four-cylinder petrol engine of the 116i, thanks to motorsport technology, now delivers 204 hp instead of 136 hp. The same figure is also achieved by the 118i, which previously had 170 horses under the bonnet.

E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video: