The steady stream of automotive recalls that made 2014 the Year of the Recall is unlikely to occur again this year, but volumes are likely to be higher than normal, according to a recently released study.
Stout, Risius and Ross, a financial advisory firm, released its second annual automotive industry warranty and recall study suggesting that the federal government is getting better at determining when there is a problem and getting automakers to take action, which will mean more recalls than normal this year. The firm discussed its findings at the Society of Automotive Analysts second annual Automotive Warranty and Recall Symposium.
In short, another year with with 63.9 million vehicles recalled shouldn’t happen nor should a replay of last year’s type of recalls where two large events dominate the recalls. According to the firm, Takata’s faulty airbags accounted for 30% of last year’s recalls and General Motors was good for 20% with its action related to its ignition switches. GM, Toyota, Ford and Chrysler led the year in recalls. (more…)