Hyundai And Kia Initiate Massive US Recalls Amid Engine Fire Concerns
Portfolio Pulse from Nabaparna Bhattacharya
Hyundai Motor Co., Ltd.(OTC:HYMTF) and Kia Corp have issued recalls for over 3.3 million vehicles in the US due to fire risk. The vehicles' anti-lock brake system module could leak brake fluid internally and cause an electrical short, increasing the risk of an engine compartment fire. Hyundai plans to notify owners to bring their vehicles to the nearest dealership to replace the ABS module fuse, while Kia is still working on a remedy.
September 27, 2023 | 3:04 pm
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Hyundai has issued a recall for 1.64 million vehicles due to a fire risk, which could potentially impact the company's reputation and sales.
The recall of such a large number of vehicles due to a fire risk could negatively impact Hyundai's reputation and sales in the short term. This could potentially lead to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100