for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Autoliv confirms involved in Toyota Prius recall, shares fall

STOCKHOLM, June 29 (Reuters) - * Auto safety gear maker Autoliv confirms Toyota is recalling 1.4 million Prius cars equipped with its airbag inflators.

* Shares in Autoliv fell as much as 16 pct to 765 SEK/shr, lowest since Dec 2014, hit by news of Toyota safety recall. Shares were down 5.2 percent by 1003 GMT.

* “We see no issues or incidents in any other vehicles. This points to a specific issue and we see no reason to take this any further,” said Autoliv spokesman Thomas Jonsson.

* Jonsson said the company has insurance to cover this type of case, and adds: “Our best estimate today is that our cost will be at the lower end of previously communicated $10 million to $40 million dollars.”

* He said Autoliv has equipped other vehicles with the same type of airbag inflator, but that it has not seen any indications of similar problems.

* “Our best estimate is that this is specific,” he said.

* Toyota said in a statement the problem had been observed when the vehicle is parked and unoccupied for a period of time.

* Autoliv has been growing sales as car makers are replacing faulty airbag inflators made by Japan’s Takata in history’s biggest auto industry safety recall, of over 100 million cars. (Reporting by Mia Shanley and Sven Nordenstam; editing by Niklas Pollard)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up