Honda Motor Co, Ltd. (HMC) stock is under pressure on Thursday as the company expands their airbag recall to an additional 465,000 vehicles. The recall includes Honda and Acura models in the United States. The airbags, part of the Takata airbag issue, are at risk of exploding.
“Airbags have proven to reduce the likelihood of driver death in frontal car crashes by 29% and 32% for front-seat passengers who are 13 and older,” claims https://thechicago-injury-lawyer.com/.
Takata’s airbags, instead, have faulty inflators that can cause metal shrapnel to spray into the passenger compartment of vehicles. Fatal injuries have been caused by the airbags, with reports of 20 deaths and a minimum of 180 injuries related to the faulty airbags.
Toyota Motor Corporation (TM) also announced that the company has added 601,300 vehicles to the recall. Toyota and Lexus models are included in the expanded recall that covers the same Takata airbags in question.
The NHTSA recently reported that Takata will add 3.3 million additional inflators to the recall across several automakers.
Takata’s airbag recall is the largest in U.S. history. The recall now spans across over 40 million vehicles. The specific vehicles that will be added to the recall have not been listed by Takata as of yet.
Vehicles from 2009, 2010 and 2013 have all been added to the recall.
Recalls are being added based on several factors: age, heat and humidity in the area where the vehicle is registered. The vehicles in hot and humid areas are at a much higher risk of improper operation, according to the recall.
Replacement airbags will be put in vehicles that meet the requirement for the recall.
Honda, General Motors, Ford, Jaguar, Audi, Fiat Chrysler, Nissan, Subaru, Mercedes-Benz, Land Rover, Mazda, Daimler vans and Mitsubishi vehicles are being recalled. There are 1.5 million vehicles in these automaker lineups, all manufactured in 2010, which have the faulty airbags. Automakers will provide further details on the make and model of the vehicles added to the recall.
Airbags that were previously recalled and replaced may also need to be replaced again.
Toyota vehicles that are included in the latest phase of recalls are: Scion xB (2009, 2010 and 2013), Corolla and Corolla Matrix (2009, 2010 and 2013), Yaris (2009 and 2010), 4Runner (2010 and 2013), Sienna (2013). Lexus vehicles that have been added to the recall are IS250/350 (2009, 2010 and 2013), IS250C/350C (2010 and 2013), IS-F (2009, 2010 and 2013), ES350 (2009 and 2010) and GX460 (2010 and 2013).
Honda’s recalls include the following models under the latest phase: Accord (2009 – 2012), Crosstour (2010 – 2013), Civic (2009 – 2011), CR-V (2009 – 2011), Element (2009 – 2011), FCX Clarity (2013), Fit (2009 – 2013), Fit EV (2013), Insight (2010 – 2013), Pilot (2009 – 2013) and Ridgeline (2009 – 2013).
Acura vehicles that have been added in the latest phase of recalls include: RL (2009 – 2012), TSX (2009 – 2013), TSX Wagon (2011 – 2013) and ZDX (2010 – 2013).
Toyota and Honda will both be sending notifications to vehicle owners that are impacted in the latest round of recalls. Honda owners will be notified in late February if their vehicles are included in the recall.
With over 20 years’ experience in the heart of the investment industry, Ben Myers has become one of the most respected commentators in the financial world. Having worked for global institutions such as HSBC and Bank of Ireland, Ben ran his own successful investment company in the UK before becoming chief analyst at ECMarkets and now YesOption. Ben remains a keen forex and binary options trader and is a regular featured analyst for a number of online news portals including bbc.com, investing.com, and was responsible for YesOption winning the Best Technical Analysis Award 2014 from DailyForex.com.