MIAMI -

The latest development in the Takata airbag story arrived on Thursday and included four automakers, nearly 16 million vehicles and more than $500 million in settlements.

According to a news release, plaintiffs in the Takata Airbag Product Liability Litigation filed class action settlement agreements resolving claims against Toyota, Subaru, Mazda and BMW that will accelerate the removal of dangerous airbag inflators from 15.8 million affected vehicles while also compensating consumers for their economic losses.

The agreement was filed in the U.S. District Court for the Southern District of Florida, Miami Division as part of the multidistrict litigation currently being overseen by Judge Federico Moreno.

Officials explained the proposed settlements totaling $553 million will provide numerous benefits to current and former owners and lessees of the affected vehicles. A portion of the settlement fund is devoted to address the low number of vehicles that have received the recall remedy since the National Highway Traffic Safety Administration (NHTSA) first announced recalls of defective Takata airbags.

As of April 28, according to NHTSA, recall completion rates of total affected airbags were:

— Toyota: 31.89 percent
— Subaru: 31.37 percent
— Mazda: 18.16 percent
— BMW: 16.48 percent

According to the settlement, the lawsuit alleged that these airbag inflators could, upon deployment, rupture and expel debris or shrapnel into the occupant compartment and/or otherwise affect the airbag’s deployment. This settlement does not involve claims of personal injury or property damage, but did show a breakdown of how much each automaker is paying:

— BMW: $131,000,000
— Subaru: $68,262,257
— Mazda: $75,805,050
— Toyota: $278,500,000

Among the benefits provided for in the settlements is a new independent outreach program that seeks to dramatically increase recall remedy completion rates. The program will regularly contact class members through direct mail, phone calls, email, internet ads and social media to educate them about the settlement and incentivize them to receive the recall remedy and exercise their rights under this agreement.

 The settlements also provide several other elements, including:

— Compensation to class members for their economic losses resulting from the recall in the form of reimbursement for reasonable out-of-pocket expenses.

— A possible residual distribution payment of up to $500.

— Requirements to provide rental cars to the most at-risk class members while they wait for their recall remedies

— The provision of a customer support program for repairs and adjustments on the replacement inflators, including an extended warranty.

“This agreement achieves our goals of educating consumers about the urgent need to have their recall remedies completed while providing them compensation for their economic losses,” said Peter Prieto, court-appointed chair lead counsel, who along with other members of the plaintiffs’ leadership, negotiated the settlement on behalf of consumers.

“The low number of recalls to-date demonstrates the need for a settlement of this type, and we look forward to accelerating the removal of defective Takata airbags from the roads,” Prieto continued. “We appreciate the efforts of Toyota, BMW, Mazda and Subaru to do right by their customers in reaching these agreements, and we look forward to the court’s approval so implementation can begin soon.”

Officials pointed out that economic loss claims pending against Ford, Honda and Nissan will continue to be prosecuted.

Vehicles subject to this agreement include 9.2 million Toyota vehicles, 2.6 million Subaru vehicles, 2.3 million BMW vehicles and 1.7 million Mazda vehicles. The breakdown of specific models is as follows:

Toyota

2002-2004 Toyota Sequoia
2002-2005 Lexus SC430
2003-2004 Toyota Tundra
2003-2007 GM-Pontiac Vibe
2003-2007 Toyota Corolla (JPN) 
2003-2008 Toyota Corolla (NAP)
2003-2008 Toyota Matrix
2004-2005 Toyota RAV4
2005-2006 Toyota Tundra
2005-2007 Toyota Sequoia
2006-2010 Lexus SC430
2006-2011 Toyota Yaris (HB)
2006-2013 Lexus IS         
2007-2012 Lexus ES350
2007-2012 Toyota Yaris (SDN)
2008-2014 Lexus IS-F
2008-2015 Scion xB
2009-2013 Toyota Corolla (JPN)
2009-2013 Toyota Corolla (NAP)
2009-2013 Toyota Matrix
2010-2015 Lexus IS250C/350C
2010-2016 Toyota 4Runner
2010-2017 Lexus GX460
2011-2014 Toyota Sienna
2012 Lexus LF-A               
2014-2015 Lexus IS250/350
2014-2017 Toyota Corolla (NAP)
2015-2017 Lexus RC350/300/200T
2015-2017 Lexus RC-F
2016 Scion iM
2016-2017 Lexus IS350/300/200T
2017 Lexus GX460
2017 Toyota 4Runner
2017 Toyota iM

Subaru

2003-2006 Subaru Baja
2009-2013 Subaru Forester
2004-2011 Subaru Impreza  (including WRX/STI)
2003-2017 Subaru Legacy
2003-2017 Subaru Outback
2006-2014 Subaru Tribeca
2012-2014 Subaru WRX/STI
2005-2006 Saab 9-2X

Mazda

2011-2014 Mazda2
2010-2013 Mazda3
2003-2013 Mazda6
2006-2007 MazdaSpeed6
2007-2012 Mazda CX-7
2007-2015 Mazda CX-9
2004-2006 Mazda MPV
2004-2011 Mazda RX-8
2004-2009 Mazda B-Series

BMW

2006 and 2008-2013 BMW 1 Series
2014-2017 BMW 2 Series
2000-2017 BMW 3 Series
2014-2017 BMW 4 Series
2001-2003 and 2009-2017 BMW 5 Series
2012-2017 BMW 6 Series
2011-2017 BMW X1
2007-2017 BMW X3
2014-2017 BMW X4
2000-2004 and 2006-2017 BMW X5
2007-2017 BMW X6
2014-2017 BMW I8 EV