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Nissan (NSANY) Recalls 300K+ SUVs in US Over Hood Glitch

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Nissan Motor Co. NSANY has announced that it is recalling more than 300,000 SUVs in the United States. The recall is over an issue pertaining to the hood, which suddenly opens obstructing the driver’s view and increasing the risk of a crash.

The Japan-based automaker said that 322,671 Pathfinder vehicles for models between 2013 and 2016 are covered under the recall.

Per the National Highway Traffic Safety Administration and Nissan, the accumulation of dirt and dust on the secondary hood latch could cause the malfunction. The latch stays open, even if the hood is closed, potentially popping up without alert.

Nissan will shortly send out interim notifications for the remedial measure.

The automaker recently came up with its production, sales and exports figures for May 2022. Nissan’s global production in May increased 1.7% from a year earlier to 231,732 units. While domestic production increased 77.9% year over year to 26,799 units, overseas production declined 3.7% to 204,933 units. Global production for the first five months totaled 1,304,459, down 17% year over year.

Global sales witnessed a decline of 33.8% in May. Sales in Japan declined 9.5% from a year ago. The auto giant’s sales outside Japan fell 36%.

The exports from Japan also declined 55.2% year over year.

Shares of Nissan have lost 20.2% over the past year compared to its industry’s 31.2% decline.

Zacks Investment Research
Zacks Investment Research


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Zacks Rank & Key Picks

NSANY carries a Zacks Rank #5 (Strong Sell), currently.

Some better-ranked players in the auto space are Wabash National Corporation WNC, Genuine Parts GPC and Standard Motor Products SMP, each carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.

Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 12.5% over the past year.

Genuine Parts has an expected earnings growth rate of 13.6% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.

Genuine Parts’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. GPC pulled off a trailing four-quarter earnings surprise of 11.34%, on average. The stock has gained 4.1% in the past year.

Standard Motor has an expected earnings growth rate of 5.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 3.1% upward in the past 30 days.

Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has increased 1.1% over the past year.


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