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Honda (HMC) Recalls 300K Plus Vehicles for Seatbelt Defects
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Honda (HMC - Free Report) is recalling more than 300,000 of its Accords manufactured from Oct 4, 2022, to Oct 14, 2023, and HR-Vs manufactured between Apr 26, 2022, and Oct 14, 2023, due to seatbelt-related safety issues. All the recalled vehicles are gas-powered.
Per Honda, it skipped the installation of a rivet that secures the quick connector and wire plate. Due to the missing rivet, the seatbelt will not be able to restrain the occupant in the event of a crash, increasing the possibility of injury.
Per the company’s estimate, 1% of the total vehicles being recalled are defective and will require a replacement. Honda has seven warranty claims related to the issue. As of Nov 16, the automaker has not received any reports of deaths or injuries related to the case.
Per the National Highway Traffic Safety Administration, the owners of all the affected vehicles will be notified by mail on Jan 8, 2024.
When owners take their vehicles to an authorized Honda dealership, mechanics will inspect their vehicles and replace the seat belt pre-tensioner assemblies, if necessary, free of charge. The customers who have already borne the expenses of the repair will be eligible for a refund.
Per Honda’s filing, it received its first complaint concerned with the issue on May 23, 2024. The company received the affected part on Sep 20 and began an investigation. On Nov 16, it figured out the defect that necessitates a recall.
This is Honda’s 15th recall this year. A few days ago, it recalled over 250,000 vehicles due to a manufacturing defect that could harm the engine. The recalled vehicles included the Acura TLX from model years 2015-2020; MDX models from model years 2016-2020; Honda Odysseys from model years 2018-2019; 2016, 2018 and 2019 Pilots; and Ridgelines from model years 2017-2019.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 65.6%, respectively. The EPS estimate for 2024 has increased by 24 cents in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales indicates year-over-year growth of 160.2%. The EPS estimate for 2023 has increased by 62 cents in the past 60 days. The EPS estimate for 2024 has increased by a penny in the past 30 days.
The Zacks Consensus Estimate for MOD’s 2023 sales and earnings indicates year-over-year growth of 6.7% and 55.9%, respectively. The EPS estimates for 2023 and 2024 have increased by 16 cents and 9 cents, respectively, in the past 30 days.
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Honda (HMC) Recalls 300K Plus Vehicles for Seatbelt Defects
Honda (HMC - Free Report) is recalling more than 300,000 of its Accords manufactured from Oct 4, 2022, to Oct 14, 2023, and HR-Vs manufactured between Apr 26, 2022, and Oct 14, 2023, due to seatbelt-related safety issues. All the recalled vehicles are gas-powered.
Per Honda, it skipped the installation of a rivet that secures the quick connector and wire plate. Due to the missing rivet, the seatbelt will not be able to restrain the occupant in the event of a crash, increasing the possibility of injury.
Per the company’s estimate, 1% of the total vehicles being recalled are defective and will require a replacement. Honda has seven warranty claims related to the issue. As of Nov 16, the automaker has not received any reports of deaths or injuries related to the case.
Per the National Highway Traffic Safety Administration, the owners of all the affected vehicles will be notified by mail on Jan 8, 2024.
When owners take their vehicles to an authorized Honda dealership, mechanics will inspect their vehicles and replace the seat belt pre-tensioner assemblies, if necessary, free of charge. The customers who have already borne the expenses of the repair will be eligible for a refund.
Per Honda’s filing, it received its first complaint concerned with the issue on May 23, 2024. The company received the affected part on Sep 20 and began an investigation. On Nov 16, it figured out the defect that necessitates a recall.
This is Honda’s 15th recall this year. A few days ago, it recalled over 250,000 vehicles due to a manufacturing defect that could harm the engine. The recalled vehicles included the Acura TLX from model years 2015-2020; MDX models from model years 2016-2020; Honda Odysseys from model years 2018-2019; 2016, 2018 and 2019 Pilots; and Ridgelines from model years 2017-2019.
Zacks Rank & Key Picks
HMC currently carries Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Volvo (VLVLY - Free Report) , BYD Company Limited (BYDDY - Free Report) and Modine Manufacturing Company (MOD - Free Report) , currently sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 65.6%, respectively. The EPS estimate for 2024 has increased by 24 cents in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales indicates year-over-year growth of 160.2%. The EPS estimate for 2023 has increased by 62 cents in the past 60 days. The EPS estimate for 2024 has increased by a penny in the past 30 days.
The Zacks Consensus Estimate for MOD’s 2023 sales and earnings indicates year-over-year growth of 6.7% and 55.9%, respectively. The EPS estimates for 2023 and 2024 have increased by 16 cents and 9 cents, respectively, in the past 30 days.