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4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota

Flyin' Miata's 525-hp V8-powered ND finally hits the streets

Flyin' Miata, in its valiant quest to turn Mazda's roadsters into small, Japanese Corvettes, has finally finished its first V8-powered ND Miata. The company has been slowly teasing us with images and videos for months, but it wasn't until this week that the car finally made it to the streets. As soon as the current ND generation Miata was released, Flyin' Miata started the work to shoehorn a GM LS3 under the hood. The company has a history of building brutish, V8-powered Miatas. It sells everything from minor parts to full V8 conversion kits. For those with the cash that prefer to avoid the hassle, Flyin' Miata will sell you a complete, turn-key car. The price hasn't been finalized, but customers should expect to pay about $50,000 plus the cost of the MX-5. The new car has a worked-over LS3 that sends 525 horsepower to the rear wheels through a Tremec T56 transmission. Flyin' Miata says the rear differential comes from a V8 Camaro. Other new bits include exhaust, suspension, brakes, and a roll cage. Flyin' Miata tells us that the V8-swapped ND will weigh 2,592 lbs, a little more than 200 lbs more than the porkiest stock Miata. Despite twice as many cylinders and more than three times the displacement of the stock four banger, the LS3 V8 is a relatively small and lightweight engine. The finished car has a 53:47 front to rear weight distribution. Final touches are being finished, but cars and kits should be available soon. This article has been updated with some info straight from Flyin' Miata. Thanks, Keith! Related Video: News Source: Road & Track, Flyin' Miata Mazda Convertible Performance flyin miata

Autoblog editors choose their favorite racecars of all time

If you like cars, there is a good chance that you like racecars. There's something about the science and the art of going faster, of competition, of achievement, that accelerates the hearts of enthusiasts. It doesn't matter the series, the team or the manufacturer – there's something about racing that stirs emotions and lifts spirits. It's that way with many of you, and it's that way with our editors. With that in mind, we offer a list of our favorite racecars of all time. Of course, we'd like to hear some of yours in the comment section below. 1970 Porsche 917 Compared to some of the obscure choices by my colleagues, I feel like the Porsche 917 is almost so obvious a pick as to not be worth mentioning. Still, when coming up with my answer, my mind invariably went back to this classic racer – specifically in its blue-and-orange Gulf livery – while watching Le Mans on DVD and later Blu Ray with my dad. Long, low and curvaceous, few vehicles have ever looked sexier lapping a track than the 917. More than just a pretty face, this beauty had speed, too, thanks to several tunes of flat-12 engines over the course of its racing life. In the early '70s, Porsche was a dominant force throughout sports-car competition, and the 917 (shown above at the 1970 24 Hours of Daytona) was the tip of that spear, including back-to-back victories in the 24 Hours of Le Mans. Largely without dialogue or really much of a traditional plot, Le Mans is like a tone poem of racing goodness. While the 917's importance to motorsports history is undoubtedly fascinating, it's still this cinematic depiction of the Porsche racer that draws me in most, especially with the volume cranked. – Chris Bruce Associate Editor 1964 Mini Cooper S How could everyone not be selecting the 1964 Mini Cooper S piloted by Paddy Hopkirk and Henry Liddon? That car, 33 EJB, took the first of British Motor Corporation's four Monte Carlo Rally wins (it should have been five, but French judges got the British Minis [and Fords] disqualified on a technicality regarding headlights... which its own car, the winning DS, was also in violation of). The tiny red car and its white roof beat out Ford Falcons, Mercedes-Benz 300SEs and scores of Volvos, Volkswagens and Saabs. This, along with the several years of dominance that followed, cemented the idea that not only could the tiny, two-tone Mini be a real performance vehicle, but that family-friendly city cars in general could be fun.