Mercedes-Benz, Toyota, Mazda Issue Massive Recalls Over Software Defects: NHTSA Warns Of Fire, Brake And Airbag Risks (UPDATED)
Portfolio Pulse from Benzinga Neuro
Mercedes-Benz, Toyota, and Mazda have issued recalls for vehicles due to software defects that pose risks such as fire, brake failure, and airbag issues. The recalls involve significant numbers of vehicles and will begin with notifications in late 2024.
September 27, 2024 | 12:13 pm
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NEGATIVE IMPACT
Mercedes-Benz is recalling 27,190 vehicles due to a software defect in the Engine Control Unit, which may lead to increased exhaust temperatures and fire risk.
The recall of 27,190 vehicles due to a software defect that could lead to fire risk is likely to negatively impact Mercedes-Benz's stock in the short term due to potential costs and reputational damage.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mazda is recalling 77,670 MX-5 Miata vehicles due to a software issue that may cause excessive airbag deployment force, increasing injury risk.
The recall of a significant number of vehicles due to an airbag software issue could negatively affect Mazda's stock due to safety concerns and potential costs.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Toyota is recalling 42,199 units of the 2023-2024 Corolla Cross Hybrid due to a brake actuator software defect, increasing crash risk.
The recall of a large number of vehicles due to a brake software defect could negatively impact Toyota's stock due to safety concerns and potential financial implications.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80