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Honda (HMC) to Recall Over 641,000 Odyssey Minivans in US
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Honda Motor Co., Ltd. (HMC - Free Report) recently announced that it will be recalling more than 641,000 Odyssey minivans in the U.S. The recall follows the identification of a problem in the second-row seats of the vehicles which may not lock in the event of a crash.
Meanwhile, the company said that the second-row seat lever of the vehicles moves the outer seats forward in order to access the third row. In such cases, the released lever of the vehicles may remain in the unlocked position, resulting in an abrupt movement of the seats.
The recall vehicles were manufactured during Aug 1, 2010 to Oct 1, 2015. Honda will be conducting two separate recalls for this issue. In the first recall, 634,000 Odyssey minivans of model year 2011 to 2016 will be recalled. In the second recall, around 7,600 Odyssey minivans of model year 2016 will be recalled. Honda will also recall some minivans in Canada and Mexico.
Honda informed that the fault was identified through warranty claims. However, there is no report of any casualties related to this defect.
Honda will be informing the owners about the recall next month. The automaker also confirmed that the dealers will repair the seat levers free of cost. However, due to unavailability of parts, the repair will be delayed till spring. In the meantime, Honda has informed the car owners about the defect and the need to lock the seat manually.
Honda has underperformed the Zacks categorized Auto Manufacturers-Foreign industry so far this year. The company’s shares lost 8.3% compared to the industry’s decline of 5.5%. The decline can be attributed to frequent recalls, slashed fiscal 2017 revenue guidance, declining sales in Japan and high research and development expenses.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc .
Allison Transmission and GKN carry a Zacks Rank #2 (Buy). Allison Transmission has a long-term growth rate of 11% while GKN has a long-term growth of 6.2%.
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Honda (HMC) to Recall Over 641,000 Odyssey Minivans in US
Honda Motor Co., Ltd. (HMC - Free Report) recently announced that it will be recalling more than 641,000 Odyssey minivans in the U.S. The recall follows the identification of a problem in the second-row seats of the vehicles which may not lock in the event of a crash.
Meanwhile, the company said that the second-row seat lever of the vehicles moves the outer seats forward in order to access the third row. In such cases, the released lever of the vehicles may remain in the unlocked position, resulting in an abrupt movement of the seats.
The recall vehicles were manufactured during Aug 1, 2010 to Oct 1, 2015. Honda will be conducting two separate recalls for this issue. In the first recall, 634,000 Odyssey minivans of model year 2011 to 2016 will be recalled. In the second recall, around 7,600 Odyssey minivans of model year 2016 will be recalled. Honda will also recall some minivans in Canada and Mexico.
Honda informed that the fault was identified through warranty claims. However, there is no report of any casualties related to this defect.
Honda will be informing the owners about the recall next month. The automaker also confirmed that the dealers will repair the seat levers free of cost. However, due to unavailability of parts, the repair will be delayed till spring. In the meantime, Honda has informed the car owners about the defect and the need to lock the seat manually.
HONDA MOTOR Price
HONDA MOTOR Price | HONDA MOTOR Quote
Price Performance
Honda has underperformed the Zacks categorized Auto Manufacturers-Foreign industry so far this year. The company’s shares lost 8.3% compared to the industry’s decline of 5.5%. The decline can be attributed to frequent recalls, slashed fiscal 2017 revenue guidance, declining sales in Japan and high research and development expenses.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and GKN plc .
Fox Factory has a long-term growth rate of 15.8%. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission and GKN carry a Zacks Rank #2 (Buy). Allison Transmission has a long-term growth rate of 11% while GKN has a long-term growth of 6.2%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>