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Home > Auto Defect > Honda to reimburse dealerships for financial losses

Honda to reimburse dealerships for financial losses

This month, Honda Motor Co. intends to initiate a reimbursement plan that will help both Honda and Acura dealerships recoup some of the financial losses they have experienced due to the widespread Takata airbag recall. The compensation plan aims to help dealerships regain some of the money that they have lost because of vehicles that cannot be sold due to this recall.

In January of this year, American Honda issued a halt on the sale of more than 1.5 million new and used Honda vehicles with model years 2007-2015. As such, Honda’s compensation program also plans to help dealerships offset floorplanning costs resulting from this temporary stop in sales. The company has not yet released any estimates of what this compensation plan could total.

As many as 29 million vehicles from various automakers have been recalled because of concerns related to potentially faulty airbag inflators manufactured by Takata. These airbags have the potential to inflate with excessive force, explode, and propel metal shards into the passenger cabin.

 

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