Honda Motor Co., Ltd. HMC has announced that it will recall around 900,000 Odyssey minivans, per Associated Press news. The Japanese vehicle maker took this decision as it feels that at the time of reasonable to heavy braking, the seats in the second row may tilt forward if not properly fastened.
Honda has revealed that 46 cases of minor injuries have been reported pertaining to this recall issue. The recall includes Odyssey minivans from 2011-2017.
In fact, vehicle makers across the globe, including Honda, are being plagued with recalls problems. Earlier in September, Honda Motor agreed to a $605 million legal settlement over faulty Takata air bag inflators, which led to several deaths and injuries. The loss settlement covers up to 16.5 million Honda and Acura vehicles. This time, Honda is preparing a plan to rectify the problem and will notify the vehicle owners about the recall.
Over the past six months, shares of Honda have outperformed the industry it belongs to. The company’s shares have gained 17.6% compared with the industry’s growth of 16%.
Currently, Honda has a Zacks Rank #3 (Hold).
A few better-ranked companies in the auto space are AB Volvo VLVLY, PACCAR Inc. PCAR and Wabco Holdings Inc. WBC.While AB Volvo sports a Zacks Rank #1 (Strong Buy), both PACCAR and Wabco Holdings carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Volvo has a long-term growth rate of 15%. Its shares have been up 11% in the last three months.
PACCAR has a long-term growth rate of 10%. Its shares have been up 5.4% in the last three months.
Wabco has a long-term growth rate of 15%. Shares of the company have increased 21.7% in the last six months.
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