Honda’s Recall Rounds Out a Treacherous Year for Automakers

Shares of Honda Motor Co., Ltd. (NYSE:HMC) closed over 1 percent higher on Wednesday, despite the Japanese automaker issuing a recall of over 800,000 minivans and SUVs because of concerns that the vehicles could roll after the keys have been removed from the ignition.

The ProblemHonda Odyssey

The statement released by Honda reads: “The ignition interlock mechanism can be damaged or worn during use. If this happens, it may become possible to remove the ignition key when the automatic transmission shift lever is not in Park. If the transmission is not in Park and the parking brake is not set, the vehicle could roll away, and a crash could occur.”

Are you worried about the Fiscal Cliff? Click here to get our Gold & Silver Premium Newsletter OVER 50% OFF now!

The recall affects Honda Odyssey and Honda Pilot vehicles from the 2003-2004 model years, and Acura MDX vehicles from the 2003-2006 model years in the U.S.

Any Cause for Concern?

“Honda has received several complaints about such malfunctions in these vehicles and is aware of a small number of related incidents, including two that allegedly resulted in minor injuries,” the company points out in its release. Owners have issued 43 complaints and reported 16 crashes so far.

Not included in the release are the nearly 2.3 million other vehicles (namely Accords, Civics, and Elements) recalled since 2003 because of a similar, or identical, issue…

More Articles About:   , , , , ,