Toyota Motor Corporation (TM - Free Report) recently announced that it is recalling 834,000 Toyota Sienna Minivans in North America. The recall will address the problem of the involuntary opening of the sliding doors while the vehicle is moving.
The Sienna Minivans that are being recalled were manufactured between 2011 and 2016. Roughly 774,000 of these vehicles were sold in the U.S. Toyota stated that when the doors of the vehicle are prevented from opening, the motor circuit gets over loaded. In case the vehicle door is unlatched, it could open on its own even when the car is in motion.
Toyotais developing a solution for the problem. The company will repair the doors of affected vehicles for free. Customers will likely be notified of the fix by mid-Jan 2017.
Recently, Toyota recalled 340,000 gas-electric hybrid Prius cars globally, including 212,000 in Japan and 94,000 in North America. These vehicles faced a defect in the parking brake cable. This defect could result in a car starting to roll and crash if left in any gear except park. The affected cars had been manufactured at the company’s Tsutsumi plant in Toyota city, Japan from Aug 2015 through Oct 2016.
Toyota’s shares fell 0.6% to $113.78 on Nov 22.
Toyotacurrently carries a Zacks Rank #4 (Sell).
Stocks that Warrant a Look
Some better-ranked automobile stocks include Commercial Vehicle Group Inc. (CVGI - Free Report) , SORL Auto Parts, Inc. (SORL - Free Report) and Visteon Corporation (VC - Free Report) , all holding a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Visteon has a long-term expected growth rate of 23.60%.
SORL Auto Parts’ average positive surprise over the preceding 4 quarters is 20.28%.
Commercial Vehicle Group delivered an average positive earnings surprise of 164.81% over the last four quarters.
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