Proposed $42M Settlement Includes Removal of Takata Airbag Inflators in 1.35M Volkswagen and Audi Vehicles Plaintiffs in the Takata Airbag Product Liability Multidistrict Litigation on Sept. 1 filed a class action settlement agreement resolving claims against Volkswagen Group of America, Inc. and Audi of America, LLC, and its affiliates that will accelerate the removal of dangerous airbag inflators from approximately 1.35 million affected vehicles while also compensating consumers for their economic losses. The proposed $42 million settlement will provide numerous benefits to current and former owners and lessees of the affected vehicles, similar to agreements previously announced with Toyota, BMW, Mazda, Subaru, Nissan, Honda and Ford. The agreement was filed in the U.S. District Court for the Southern District of Florida, Miami Division, as part of the multidistrict litigation being overseen by Judge Federico A. Moreno. “We are pleased that after three years of hard-fought litigation we have reached a settlement with Volkswagen that will bring significant monetary and other relief to more than a million class members,” said Peter Prieto, court-appointed plain-
tiffs’ chair lead counsel, who, along with other members of the plaintiffs’ leadership, negotiated the settlement on behalf of consumers. “This agreement will not only expand awareness of the Takata recalls and improve driver safety by accelerating the removal of defective airbags from our roads, but will provide compensation to affected VW and Audi consumers,” Prieto said. “We will continue to vigorously prosecute our claims against Mercedes Benz, General Motors and FCA to ensure that our clients obtain the relief they deserve.” Among the benefits provided for in the settlement is an outreach program overseen by an independent settlement special administrator that enhances and expands upon VW’s and Audi’s outreach efforts to significantly 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 the settlement agreement.
The settlement also provides 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 class members while they wait for their recall remedies and the provision of a customer support program for repairs and adjustments on the replacement inflators, including an extended warranty. This settlement is subject to court approval. If preliminary approval is granted, class members will receive more information about the terms of the settlement. The benefits of the Enhanced Rental Car Loaner Program will be provided no later than the date of preliminary approval. When and if the court grants final approval, the claims process will open to eligible class members pending any appeals that are filed. Personal injury claims related to the Takata Airbag Litigation are not covered by this settlement. Source: Schwartz Media Strategies
Continued from Page 42
Consultant Says Association’s Foothill chapter. Tell us about the importance of the organization and its role in the industry in California.
A:
The shops that join CAA are always the top shops who see the value in the organization and what they do. The CAA provides its members with a lot of valuable information through people like Jack Molodanof, their lobbyist in Sacramento, and speakers we’ve had such as Michael Anderson, BAR representatives and industry leaders. I think the MSOs would benefit from joining CAA too. We plan on meeting again soon as opposed to Zoom calls, and we have some big plans for 2022, so now is the perfect time to join.
FREE
4x Monthly E-Newsletter.
www.autobodynews.com
PPG Provides Sales Update, Reports Worsening Supply Disruptions and Customer Parts Shortages
Genuine NISSAN & INFINITI OEM Wholesale Parts are Superbly Crafted to Strict Quality Standards. THE FOLLOWING DEALERS PROUDLY STOCK GENUINE PARTS FOR YOUR NISSAN OR INFINITI REPAIRS.
NISSAN MINNESOTA
WISCONSIN
Eden Prairie Nissan
Gandrud Nissan
952-567-2150
800-242-2844
Eden Prairie
(952) 567-2197 Fax M-F 6:30-7 parts@edenprairienissan.com www.edenprairienissan.com
Green Bay
(920) 785-5868 (920) 884-0882 Fax M-F 7-7, Sat. 7-2 nissanparts@gandrud.com
PPG on Sept. 7 announced it expects sales volumes in the third quarter 2021 will be lower by $225 million to $275 million, compared to what the company anticipated at the start of the third quarter. PPG’s sales volumes are being impacted by the increasing disruptions in commodity supplies; further reductions in customer production due to certain parts shortages such as semi-conductor chips; and continuing logistics and transportation challenges in many regions, including the U.S., Europe and China. In addition, raw material inflation for the third quarter is trending higher than previously communicated by about $60 million to $70 million. The coatings commodity supply disruptions have further deteriorated since the company’s earnings announcement July 19, due to several additional force majeure declarations and lower material allocations from certain suppliers. The company also continues to assess the full impact of Hurricane Ida, which could include additional
supply chain effects. The company reported aggregate global economic demand remains robust, and inventories in many of the company’s end-use channels are at very low levels. When supply conditions normalize, the company continues to expect strong sales growth into 2022. In addition, the company reported it continues to make measurable progress implementing selling price increases to help offset the elevated raw material costs, and is seeking further increases. Overall price increases for the third quarter are estimated to be about 5% with similar contributions from both operating segments. Based on the uncertainty created by these continuing and evolving disruptions, the company has elected to withdraw previously communicated financial guidance for the third quarter and full-year 2021. Source: PPG
www.autobodynews.com
autobodynews.com / OCTOBER 2021 AUTOBODY NEWS 53
