Honda ( HMC Quick Quote HMC - Free Report) recently issued a recall for more than 724,000 cars over a safety issue with the vehicles’ hoods. The affected vehicles include certain 2016-2019 Pilot and 2019 Passport SUVs along with a few 2017-2020 Ridgeline pickup trucks. Reportedly, the recalled vehicles had gaps in the front seal between the hood and grill, allowing air entry, resulting in hood vibration at highway speeds. Over time, the hood vibration could damage the hood latch striker, resulting in the separation of the hood latch striker from the hood, making the hood pop open. Per the Japan automaker, there are no reported crashes or injuries due to the issue. Honda will notify owners of the affected vehicles via letters starting Jan 17, 2022. Dealers will replace either the hood or the hood latch striker, free of cost, to resolve the issue. Meanwhile, Ford ( F Quick Quote F - Free Report) recently announced the decision to recall 114,996 2021-2022 Bronco Sport and Escape SUVs in the United States over faulty rear-brake linings that could result in a potential reduction in the vehicles' power brake performance. The cause of the defect is a friction coefficient in the rear-brake linings that is beyond the specified tolerance. This might result in drivers experiencing varied braking performance, increasing stopping distances beyond regulated standards, thereby raising the risk of a crash. Per the Detroit automaker, it is not aware of any injuries or crashes related to this recall issue. Ford is still confirming the total number of affected vehicles which is subject to change as the auto biggie continues to investigate the defect. Currently, the recall includes 65,429 of the 2021 Bronco Sport and 12 2022 models as well as 49,553 2021 Escapes and two from 2022. There is no fix for the problem yet, so the automaker will start intimating customers from Jan 10, 2022, to bring in their vehicles for a repair. Ford currently carries a Zacks Rank of 3 (Hold), while Honda holds a Zacks Rank of 5 (Strong Sell). Auto Companies to Focus On
A few better-ranked stocks in the auto space include
Tesla ( TSLA Quick Quote TSLA - Free Report) and Harley-Davidson ( HOG Quick Quote HOG - Free Report) , both which flaunt a Zacks Rank of 1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here. Tesla has an expected earnings growth rate of 166.96% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 6 cents over the last 30 days. Tesla beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. TSLA has a trailing four-quarter earnings surprise of 25.38%, on average. Its shares have rallied 58.2% over the past year. Harley-Davidson has an expected earnings growth rate of 34.92% for the current quarter. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 2 cents over the last 30 days. Harley-Davidson beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. HOG has a trailing four-quarter negative earnings surprise of 138.45%, on average. Its shares have dropped around 7.2% over the past year.