Hyundai & Kia Recall Over 91,000 Vehicles In US: Report
Portfolio Pulse from Lekha Gupta
Hyundai Motor Co (OTC:HYMTF) and Kia Motors Corp (OTC:KIMTF) have announced the recall of over 91,000 vehicles in the U.S. due to the risk of oil pumps catching fire. The companies have urged owners to park their vehicles outside and away from structures until repairs are made. The recall affects several models from both companies. The companies plan to notify owners in late September, and dealers are expected to inspect and replace the electric oil pump controller as needed.
August 04, 2023 | 2:10 pm
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NEGATIVE IMPACT
Hyundai's recall of over 91,000 vehicles in the U.S. due to fire risk could negatively impact the company's reputation and stock price.
The recall of such a large number of vehicles due to a fire risk is a significant event that could harm Hyundai's reputation and lead to a decrease in consumer trust, potentially impacting sales and the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Kia's recall of over 91,000 vehicles in the U.S. due to fire risk could negatively impact the company's reputation and stock price.
The recall of such a large number of vehicles due to a fire risk is a significant event that could harm Kia's reputation and lead to a decrease in consumer trust, potentially impacting sales and the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100