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Honda cuts profit target as Takata air bag recalls bite
2015-01-30 09:34:43| Automakers - Topix.net
Japan's Honda Motor Co sliced 6.5 percent off its core annual profit forecast as it set aside hundreds of millions of dollars in extra cash to cover an extended car recall to replace potentially faulty air bags made by Takata Corp. Reporting its third-quarter earnings fell by nearly a quarter as it soaked up recall costs, Japan's third-largest automaker said it now expects an operating profit of 720 billion yen for the year to March 31. It previously forecast 770 billion yen, but has set aside an extra 50 billion yen to cover what it said were quality-related costs including the Takata air bag recalls.
Exclusive: Honda opts for Takata rival to supply Accord air bags - sources
2015-01-24 00:56:01| Automakers - Topix.net
Honda Motor Co has chosen a competitor of embattled Takata Corp to supply air bags for the next North American version of its Accord sedan, the automaker's best-selling vehicle, two people with knowledge of the decision said. In the first major defection by a carmaker since Takata's safety crisis began, Honda, Takata's largest customer, will use air bags made by Toyoda Gosei for the all-new Accord, scheduled to go on sale in August 2017, the people told Reuters.
Tags: air
supply
sources
exclusive
Takata airbag victim's husband held dying baby for 10 mins
2015-01-21 13:15:16| Automakers - Topix.net
The widower of a pregnant Malaysian woman who died in a freak car accident in Borneo last year after her neck was pierced by a metal shard from a faulty Takata airbag held their dying daughter in his arms for 10 minutes as the prematurely delivered infant's life sapped away. According to 41-year-old Welhelmo Rodriguez Caido, doctors performed an emergency operation to save their unborn baby girl after the Honda City car driven by his wife crashed head-on with another car in Malaysia last July, fatally injuring her, but the infant was in critical condition and died two days later.
Your Tax Dollars At Work: Independent Panel Formed To Babysit Takata...
2015-01-21 10:52:35| Railroads - Topix.net
Former Transportation Secretary Samuel Skinner today released a list of six experts -- including Cerberus Chairman John Snow -- to serve on an independent panel that will oversee Takata Corp. Snow, the former head of railroad giant CSX Corp. who later served as secretary of the U.S. Treasury Department from 2003 to 2006, has been with the Cerberus private equity firm since 2006 and has served numerous roles in the U.S. business community over the years.
Tags: work
independent
tax
panel
No quick fix for Takata air bag issue as blame game continues
2014-12-28 13:11:09| Automakers - Topix.net
After months of international controversy over possibly defective Takata Corp. air bags, one thing lawmakers, regulators, the media, carmakers and the parts supplier probably agree on is this: It won't be easy to resolve the crisis. While Takata Chief Executive Officer Shigehisa Takada has avoided public appearances since June, a person close to the company's thinking said it will continue to "thoroughly" conduct tests to determine the cause of the trouble with its inflators, which in some cases can deploy with too much force and spray shrapnel at those onboard.
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