Market Overview

Honda Announces Massive Recall Involving Over 320,000 Cars and SUVs


Honda (NYSE: HMC) is recalling 166,000 small SUVs and 6,200 luxury cars in the United States, along with thousands more throughout the rest of the world.

The Japanese automaker said there may be a problem with the doors of the 2012 CR-V and the 2013 Acura ILX. According to Reuters, no accidents or injuries have been reported as a result of the problem, which affects 321,453 vehicles worldwide.

Reuters quoted a statement from Honda, which said that the, "simultaneous operation of the driver's or passenger's inner door handle and either the manual or power door lock may result in the inner door handle release cable becoming partially disengaged." According to the Associated Press, the vehicle doors may not latch and if they do latch, the doors may open when the locks are used.

This is the second major recall announced today. The first came from Ford (NYSE: F), which announced that it is recalling more than 11,000 of its own SUVs. The recall, which affects the 2013 Escape, is so serious that Ford is telling customers to stop driving them.

Three days ago, Ford recalled 10,000 Escapes because the floor mats could prevent drivers from braking. This was eerily reminiscent of a large-scale Toyota (NYSE: TM) recall that has affected millions of vehicles over the last few years. In June, the company added the 2010 Lexus RX to its massive recall list.

Honda is no stranger to recalls either. In August 2011, the company told 1.5 million car owners to bring in their vehicles for a software repair. Last December, Honda recalled another 304,000 cars, vans, and SUVs to repair an airbag issue that ultimately affected more than two million vehicles.

In March 2010, Honda recalled more than 600,000 vehicles because of a window defect, and an additional 344,000 Odysseys and Elements because of a problem surrounding the vehicles' stability assist modulators. Later that year, the company recalled the Accord and the Pilot because of a front suspension issue.

This week's recalls come at a time when Ford and Honda continue to fight for the number-one spot among small SUV sales in America. In June, Ford took the lead with 28,500 Escapes sold, versus 23,282 CR-Vs. Year-to-date, however, Honda is still the leader of the market, selling 146,682 CR-Vs versus 127,167 Ford Escapes.

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