blazerdude20 Posted June 26, 2017 Share Posted June 26, 2017 http://www.autoblog.com/2017/06/25/takata-files-chapter-11-bankruptcy-japan/?hcid=hp-tile-large Takata files for bankruptcy and in filings has stated it will sell most assets to Key Safety Systems in Detroit. Should be interesting to see how this affects the air bag recalls. Quote Link to comment Share on other sites More sharing options...
snooter Posted June 26, 2017 Share Posted June 26, 2017 Why, why would anybody want to take on that liability... Quote Link to comment Share on other sites More sharing options...
twintornados Posted June 26, 2017 Share Posted June 26, 2017 (edited) Why, why would anybody want to take on that liability... . Bankruptcy court absolves the liability for the new owner. And since the Japanese government subsidizes their home companies, they should be on the hook for the recall expenditures as well. Add On: Of course, KSS is a subsidiary of Chinese firm Ningbo Joyson Electronic Corp. Edited June 26, 2017 by twintornados Quote Link to comment Share on other sites More sharing options...
PREMiERdrum Posted June 26, 2017 Share Posted June 26, 2017 Meanwhile... I'm still waiting for the fix in my Fusion. 1 Quote Link to comment Share on other sites More sharing options...
rmc523 Posted June 26, 2017 Share Posted June 26, 2017 Meanwhile... I'm still waiting for the fix in my Fusion. My mom's BMW is part of the recall, and it still hasn't been fixed either. Quote Link to comment Share on other sites More sharing options...
fuzzymoomoo Posted June 26, 2017 Share Posted June 26, 2017 My mom's challenger hasn't been fixed either Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted June 26, 2017 Share Posted June 26, 2017 I got mine done on my Mustang back in May before I sold it. Doesn't even look like they did anything to the dash when I got it back! Quote Link to comment Share on other sites More sharing options...
rmc523 Posted June 26, 2017 Share Posted June 26, 2017 I got mine done on my Mustang back in May before I sold it. Doesn't even look like they did anything to the dash when I got it back! Would you rather them screw up your dash? I get your point though. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 26, 2017 Share Posted June 26, 2017 The concern is that even if all of Takata's assets were sold, there's not enough money to complete the recalls, around 73% complete in Japan but less than 40% in North America and ROW. If that's true then I think the responsibility for completing the recall will fall back on manufacturers. Quote Link to comment Share on other sites More sharing options...
tbone Posted June 26, 2017 Share Posted June 26, 2017 I got mine done on my Mustang back in May before I sold it. Doesn't even look like they did anything to the dash when I got it back! That's a hats off to the tech. Quote Link to comment Share on other sites More sharing options...
tbone Posted June 26, 2017 Share Posted June 26, 2017 Add On: Of course, KSS is a subsidiary of Chinese firm Ningbo Joyson Electronic Corp. Interesting point. The Chinese always seem to be lingering behind the scenes. Quote Link to comment Share on other sites More sharing options...
SoonerLS Posted June 26, 2017 Share Posted June 26, 2017 If that's true then I think the responsibility for completing the recall will fall back on manufacturers. Which, in turn, means that a lot of it will fall on whichever company ends up with their business supplying airbags. Unless they go full liquidation, the company that ends up with that part of the business will have to finish out the recall; if they don't, what auto manufacturer is going to buy airbags (or anything else) from them in the future? Bankruptcy law would protect them legally, but if I'm Ford and I'm looking at an airbag supplier who made a mess and left me holding the bag (so to speak...), they're going to have to make good, one way or another, before I'm going to buy from them again. Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted June 27, 2017 Share Posted June 27, 2017 Would you rather them screw up your dash? I get your point though. Well the car was 11 years old and I'd expected to see something slightly misaligned...the main point was I was making it doesn't even look like they did anything.. Quote Link to comment Share on other sites More sharing options...
PREMiERdrum Posted June 27, 2017 Share Posted June 27, 2017 Well the car was 11 years old and I'd expected to see something slightly misaligned...the main point was I was making it doesn't even look like they did anything.. If the fix for the Mustang is like the others I've seen, they go in up thru the glove box opening... no muss, no fuss. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 28, 2017 Share Posted June 28, 2017 Which, in turn, means that a lot of it will fall on whichever company ends up with their business supplying airbags. Unless they go full liquidation, the company that ends up with that part of the business will have to finish out the recall; if they don't, what auto manufacturer is going to buy airbags (or anything else) from them in the future? Bankruptcy law would protect them legally, but if I'm Ford and I'm looking at an airbag supplier who made a mess and left me holding the bag (so to speak...), they're going to have to make good, one way or another, before I'm going to buy from them again. But here's the deal, Takata owes tens of Billions but most of that is to Auto companies as part of in progress recalls, so Takata needs operating capital to continue with making replacement airbags, if they cease trading then that just hurts auto companies more than now. So the lesser of two evils may be for auto companies to keep Takata afloat and work through the recalls Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.