Honda Motor Co Ltd (ADR) (NYSE:HMC) has issued another recall over the Takata airbag flaw. This time the company has recalled 4.5 million vehicles.
The recall was issued on a global scale as a result of increasing injuries and deaths related to the faulty airbags. Roughly 1.63 million of the vehicles recalled are in Japan. It involves various vehicle models including the Honda Fitand the CRV crossover. A spokesperson from the company by the name Teruhiko Tatebe made the reveal over the phone on Thursday. He also said that the company is still collecting information on the different models that have been affected by the flaw.
This recall marks the automotive firm’s third biggest recall in 2015. It is also the first recall since Takahiro Hachigo became the company’s president after his predecessor, Takanobu Ito whose tenure ended on a negative tone. This is because it had been plagued by numerous other recalls. Nissan Motor Co Ltd (ADR) (OTCMKTS:NSANY) and Toyota Motor Corp (ADR) (NYSE:TM) have also suffered the same fate but Honda has suffered the most from the Takata airbag flaw.
During a press briefing, Mr. Hachigo said that he believes the current airbags that Takata is making are safe. He, however, withheld any statements regarding continued use of the airbags. He pointed out that the main aim is to find the cause of the flaw. According to another spokesperson called Atsushi Ohara, Honda Motor Co Ltd (ADR) (NYSE:HMC) expects the costs that will arise from the latest recalls to be included in the company’s provisions from the previous recalls.
The latest recall mostly affects vehicles manufactured between 2007 and 2011.surprisingly the same types of inflators used in the flawed models were used in vehicles made in 2012. However, the company found no evidence of flaws in the newer models. The flaw is the same as the one reported in May where the airbags might rupture during deployment and throw metal or plastic shrapnel at the passengers. Nissan’s first injury regarding the Takata airbags was reported in Japan.
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