Auto Recalls on the Rise in 2014

This year has already seen the recall of about 11 million vehicles so far, compared with 22 million in all of 2013. General Motors is responsible for the largest number of those recalls – 6 million so far.

Other considerable 2014 recalls include 650,000 Jeep Grand Cherokees and Dodge Durangos, 1 million cars from Nissan, nearly 900,000 Honda Odyssey minivans, and around 700,000 Toyota Prius hybrid cars.

Jerry Hirsch of the Los Angeles Times reports that analysts urge consumers not to be alarmed by the high recall rate:

“This is the new normal for recall numbers,” said Karl Brauer, an analyst at auto information company Kelley Blue Book. Automakers are more willing to do recalls today than they were five years ago because they fear incurring the wrath of federal regulators after seeing how delayed recalls caused big problems for Toyota Motor Corp., Brauer said.

Earlier this year, Toyota was ordered to pay a $1.2 billion dollar fine following a criminal investigation into whether it adequately informed regulators about safety complaints regarding sudden acceleration of certain vehicle models. The burdensome fine has alerted other manufacturers to the high cost of recalls: “Toyota changed the thinking on recalls,” Brauer said. “The cost of a recall is a drop in the bucket compared to the cost of what happens if you don’t do it.”

So what’s the takeaway for consumers? Stay informed about recalls, and if there’s one that affects you, get your vehicle fixed.

Click here for a comprehensive list of Recalls & Defects from the National Highway Traffic Safety Administration.

 

 

Source: “Automobile recalls are on pace to break recent highs,” from Los Angeles Times

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