- The NHTSA has given Takata (TKTDY) until Tuesday to declare that its air bag inflators are defective and issue a recall. If it does not comply, the NHTSA could begin steps to fine the Japanese air bag supplier up to $7K per vehicle and could force a recall.
- Takata has so far resisted the U.S. regulator's call to broaden its recall, which is currently limited to a few high-humidity states and territories where initial reports of air-bag ruptures have occurred.
- Stepping up its recalls today, Toyota (NYSE:TM) has announced that it would replace Takata air bags in 57,000 vehicles, and its subsidiary, Daihatsu (OTCPK:DHTMY), would recall 27,571 Mira minivehicles for the same reason.
- Yesterday, the NHTSA demanded that Chrysler (NYSE:FCAU) expand its Takata recall nationwide and begin notifying customers of the new campaign by Monday.
- Previously: Takata air bag crisis continues
- Previously: U.S. calls for national recall of defective Takata air bags
- Previously: Takata gets hit with U.S. criminal probe