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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

Subaru sells 2 millionth Outback in U.S.

Subaru just sold its 2 millionth Outback in the U.S. The Outback is Subaru's most popular vehicle, and the brand's sales growth in recent years means it took far less time to reach the 2 million mark as it did to sell the first million (from 1995 to 2011). Currently in its fifth generation, the Outback is built in Lafayette, Ind., and the 2 millionth example was sold at Subaru Pacific in Hawthorne, Calif. Andrew Simpson is the new owner (that's him in the center in the photo below), and a host of Subaru's top executives were there to close the deal and to give Simpson a few gifts the buyer of Outback No. 1,999,999 apparently didn't get. Best of all, there was a charitable donation to the Grades of Green program on his behalf from the automaker's environmental philanthropy arm, Subaru Loves the Earth. The second millionth Outback is worth a look back 24 years down the long rutted trail it has traveled, with bragging rights over SUVs strewn along the way. It all started in 1995, with "Crocodile Dundee" Paul Hogan offering "a ripper deal": This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Hogan did Outback commercials for years. But this may be the first instance of dogs as Subaru pitchmen: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Here's a pretty great extended commercial with Daniel Tosh, "proud Subaru owner." For once he's not kidding. He even held a contest on "Tosh 2.0" to give his 2011 Outback away to a viewer: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This one is wrapped in a Snuggie: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In recent years, in the "Love, it's what makes a Subaru a Subaru" era, there has been a focus on the Outback's reputation for safety. This ad pulls a heartstring: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. And finally, a toast from the Barkleys (in "two completely different voices"), to you, Subaru Outback, and your many loyal customers, including the 2 millionth: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

This or That: 2005 Dodge Ram SRT-10 vs. 2005 Subaru WRX STI [w/poll]

Some cars, due to ultimate desirability, particular rareness, or spectacular performance/prestige eventually become collectible. It's darn near impossible to know which ones will make it into the rarefied stratosphere of collectibility – why is a late 1960s AMC AMX so affordable these days, whereas prices for late '70s Pontiac Trans Ams are soaring? – but there are some useful indicators to keep tabs on. We're not exactly experts on investing, but we do know cars. As such, we've decided to take our non-expertise on one hand, combine it in the other with our knowledge of all things automotive, wad it up, throw it out and ask for your forgiveness. Or something like that. I've challenged Senior Editor Seyth Miersma to choose a car he thinks will become a future collector's item that's not more than 10 years old, and for no more than $25,000. I've done the same, and we vigorously argued for and against each other's picks. I feel good about my choice, but I don't have the best track record in these contests (I've lost three times, won twice, but they've all been pretty close), so, while I'm not going to beg (please vote for me!), I do hope you find my argument convincing. But first, let's hear from Seyth: Miersma: Ten-years old or newer makes this challenging. At that age most vehicles feel like a plain old used car to me, few hit the "classic" button. But the Subaru WRX STI has always been a special car, and the 2005 cutoff year proves to be very attractive for the parameters of our contest. It's rare; with fewer than 5,000 STI models sold that model year. It's probably the best looking WRX STI ever sold in America; narrowly avoiding the dreadful "horse collar" front fascia. And it's got one of the more die-hard car-geek followings out there. For $25,000, you can also still find examples that have reasonable miles, are in good condition, and haven't all been molested by grown-up Initial D wannabes. With the street racers hacking up collectable examples every day, I like my odds for steep appreciation by way of conservation. I couldn't agree more. It really is difficult to predict what cars will catch the eye of collectors, and the WRX STI seems like a pretty good choice. But I think mine is even better, and I can't let him know that I'd love to park just such an STI in my very own garage. And so goes my argument: Korzeniewski: I like your choice as a driver, Seyth. I'm less convinced of its status as a sure-fire collectible.