Reported Earlier, "Honda Motor Issues Recall For ~2.5M Cars And SUVs Over Fuel Pump Issue"
Portfolio Pulse from Benzinga Newsdesk
Honda Motor's American unit is recalling 2.54 million vehicles in the U.S. due to fuel pump failures. This follows previous recalls in 2021 and 2020 for the same issue. The recall affects various models from 2017 to 2020, including Honda Accord, Civic, CR-V, and Acura models. Dealers will replace the fuel pump module. There have been no injury reports but 4,042 warranty claims since 2018. The recall was also issued in Japan and China, with improved replacement parts. This comes after a separate recall of 106,030 CR-V hybrids over fire risks.
December 21, 2023 | 4:00 pm
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NEGATIVE IMPACT
Honda Motor Co. is recalling 2.54 million vehicles in the U.S. for fuel pump issues, potentially affecting consumer confidence and future warranty costs.
The recall of such a large number of vehicles is likely to have a negative impact on Honda's stock in the short term due to the anticipated costs associated with the recall, potential impact on brand reputation, and the scale of the issue. The fact that this is a repeated recall for the same issue may further erode consumer trust and investor confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100