Multiple auto manufactures issued recalls related to faulty airbags this week.

Automakers like Honda, Mazda and Nissan are recalling millions of vehicles related to faulty airbags manufactured by the Japanese firm, Takata Corp. The company also makes airbags for other car manufacturers like BMW, Ford and Mazda, who have not yet issued recalls. 

The recall stems from airbags that can explode and potentially send metal shrapnel flying at occupants during a crash. So far, 2014 hasn't been a good one for car companies, with more than 31 million recalls already issued. That number breaks the record set in 2004.

So what's the reason for the recalls? We talk to Jeff Green, the Detroit bureau chief for Bloomberg News about the recalls, and what it means for the car industry.