Takata air bag recall could cost VW up to $445 million: Welt am Sonntag

[February 22, 2016]    FRANKFURT (Reuters) - Volkswagen AG <VOWG_p.DE> may have to set aside up to 400 million euros ($445 million) in provisions to cover a recall of vehicles in the United States equipped with Takata <7312.T> air bags, German weekly Welt am Sonntag reported, citing an insider.

Germany's three largest automakers said earlier this month they would recall 2.5 million vehicles in the United States equipped with the air bags, the latest in a long-running safety crisis involving the Japanese automotive supplier.

Volkswagen said it would recall 850,000 vehicles and BMW <BMWG.DE> said it would recall 840,000 vehicles. Daimler AG <DAIGn.DE> said it was recalling 840,000 vehicles and that it would take a charge of 340 million euros as a result.

A spokesman for Volkswagen declined to comment.

(Reporting by Christoph Steitz and Andreas Cremer; editing by Susan Thomas)

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