Autoliv is cooperating with Toyota in a voluntary recall of certain Prius and Lexus CT vehicles

(Stockholm, Sweden, June 29, 2016) – – – Autoliv, Inc. (NYSE: ALV and SSE:
ALIVsdb), the worldwide leader in automotive safety systems, is cooperating with
Toyota in their voluntary recall of approximately 1.4 million vehicles of the
Toyota Prius and Lexus CT200h.
Seven incidents involving the Toyota Prius have been reported where a side
curtain airbag has partially inflated without a deployment signal being given by
the airbag controller. In each of those incidents, the vehicles were parked and
unoccupied, and there have been no reported injuries.
The root cause analysis of this issue is continuing. No incidents have been
reported in any vehicles produced by the four other OEMs who used the same
inflator, pointing to vehicle specific characteristics contributing to the issue
in addition to a manufacturing issue. The inflator manufacturing process
suspected of contributing to the issue was changed in January 2012 and the
vehicles now recalled by Toyota represent approximately half of all such
inflators manufactured until January 2012.
”For Autoliv, safety and quality are our priorities and we are fully committed
to support Toyota’s action in resolving this issue, and will support Toyota in
the implementation of solution to the issue”, said Jan Carlson, Chairman,
President and CEO, Autoliv.
Toyota, in conjunction with NHTSA and the MLIT in Japan, have concluded that an
additional retention bracket will address this issue.
It is too early to determine the final cost to Autoliv, but it is currently
expect it to be at the lower end of a range of 10 to 40 million USD, net of
expected insurance recoveries, as published in Autoliv’s 10Q statement on April
29.
Inquiries:
Thomas Jönsson, Group Vice President Communications.                       Tel
+46 (0)8 58 72 06 27
About Autoliv
Autoliv, Inc. is the worldwide leader in automotive safety systems, and through
its subsidiaries develops and manufactures automotive safety systems for all
major automotive manufacturers in the world. Together with its joint ventures,
Autoliv has more than 80 facilities with around 66,000 employees in 27
countries. In addition, the Company has 22 technical centers in nine countries
around the world, with 20 test tracks, more than any other automotive safety
supplier. Sales in 2015 amounted to about US $9.2 billion. The Company's shares
are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository
Receipts on the OMX Nordic Exchange in Stockholm (ALIV sdb). For more
information about Autoliv, please visit our company website at www.autoliv.com.
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