Takata Share Prices Fall As Auto Makers Signal Avoidance of Takata Air Bags
Posted on Nov 5, 2015 in Industry News | Comments Off on Takata Share Prices Fall As Auto Makers Signal Avoidance of Takata Air Bags
After Mazda, Subaru, and Mitsubishi automakers indicated that they would no longer use Takata air bags, Takata Corp. experienced a drop in its share price of approximately 25%. The announcements all followed the determination by Honda that it would no longer use Takata air bags in new vehicles, as well as a settlement with the National Highway Traffic Safety Administration. The...
Honda to Stop Using Takata Air Bags
Posted on Nov 5, 2015 in Industry News | Comments Off on Honda to Stop Using Takata Air Bags
Honda decided that it will stop using Takata air bags in new vehicles after reviewing millions of pages of internal Takata documents and determining that test data for certain air bag inflators was misrepresented or manipulated. The decision by Honda follows a $200 million fine imposed on Takata by the National Highway Traffic Safety Administration (“NHTSA”). Takata agreed to pay $70...
Air Bag Defect Leads to Mercedes-Benz Recall of 126,000 Cars
Posted on Nov 4, 2015 in Industry News | Comments Off on Air Bag Defect Leads to Mercedes-Benz Recall of 126,000 Cars
According to the National Highway Traffic Safety Administration, a defect in the air bags of certain Mercedes vehicles—which can cause the bags to deploy without impact—has led to a recall of approximately 126,000 cars. Mercedes became aware of a potential defect through three customer complaints in early 2014, but did not discover the root cause until summer 2015. An investigation...
National Highway Traffic Safety Administration to Recommend Automatic Brakes in All Vehicles
Posted on Nov 4, 2015 in Industry News, Technology Impacting Auto Insurance | Comments Off on National Highway Traffic Safety Administration to Recommend Automatic Brakes in All Vehicles
The National Highway Traffic Safety Administration (“NHTSA”) stated that it plans to add automatic emergency breaking (AEB) to its 5-Star vehicle safety ratings as a way to encourage the spread of crash-avoidance technology. With this update to the NHTSA’s vehicle safety ratings, the AEB system would be recommended in all U.S. vehicles beginning with model year 2018. AEB reduces the...
U.S. House Committee Considers Strategies To Improve Vehicle Safety
Posted on Oct 22, 2015 in Insurance Regulation | Comments Off on U.S. House Committee Considers Strategies To Improve Vehicle Safety
At a hearing held by the U.S. House Committee on Energy and Commerce’s Subcommittee on Commerce, Manufacturing and Trade, Congressional members heard testimony on strategies to improve vehicle safety. The hearing, titled “Examining Ways to Improve Vehicle and Roadway Safety,” key issues included increased reporting requirements for the National Highway Traffic Safety Administration...
