Honda Motor Co., Ltd. (NYSE:HMC) announced the recall of 190,578 vehicles in India due to defective Takata passenger front airbag inflators. The recall, to be conducted by Honda’s Indian unit, Honda Cars India Ltd, will cover Honda Accord, Civic and City sedans, the CR-V sport-utility vehicle and Jazz hatchback produced between 2003 and 2011.
Honda will commence the recall and repair of the CR-V and Civic models right away. However, the recall of the other three models will begin from September.
The defective Takata airbags have resulted in multiple recalls by automakers. When these inflators explode, they send metal fragments shooting into the car that may injure or kill occupants. This has resulted in 11 confirmed deaths and more than 100 injuries. Another 3 deaths in Malaysia are still under investigation for possible links to these airbags.
Recently, the National Highway Traffic Safety Administration (NHTSA) declared nearly 313,000 Honda vehicles to be risky to drive due to unrepaired defective Takata airbags. New tests had revealed that the airbag inflators of some Honda and Acura vehicles manufactured over the period 2001−2003 have up to 50% chance of exploding while inflating. Hence, the NHTSA has advised owners to stop driving these vehicles and bring them in for repairs as soon as possible.
Honda currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks include O'Reilly Automotive Inc. (NASDAQ:ORLY) , Spartan Motors Inc. (NASDAQ:SPAR) and U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) , all carrying a Zacks Rank #2 (Buy).
HONDA MOTOR (HMC): Free Stock Analysis Report
O REILLY AUTO (ORLY): Free Stock Analysis Report
US AUTO PARTS (PRTS): Free Stock Analysis Report
SPARTAN MOTORS (SPAR): Free Stock Analysis Report
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