How did the Honda recall for an air bag defect effect Takata stock?”
Takata Corp fell 7.7 percent to 1,570 yen after Honda Motor Co (Paris: JP3854600008 – news) expanded a recall that originated in the United States to fix defective airbags made by Takata. Honda is recalling more than 300,000 units of some U.S.-built Accord and Civic cars in the United States and Canada, and is recalling 1,500 cars exported to Japan. Sources: Takata Corp fell 7.7 percent to 1,570 yen after Honda Motor Co (Paris: JP3854600008 – news) expanded a recall that originated in the United States to fix defective airbags made by Takata.
Honda recalls 440,000 cars for airbag risk Reuters / July 31, 2009 DETROIT (Reuters) – Honda Motor Co said Friday that it is recalling another 440,000 vehicles — including some of its best-selling Accord and Civic models — for a potentially lethal airbag defect. Honda said that the airbag inflators in some of its top-selling sedans can rupture because of too much air pressure causing metal fragments to shoot through the airbag and strike vehicle occupants. One fatality and a number of injuries have been linked to the defect, Honda spokesman Sage Marie said. The recall covers certain 2001 and 2002 Accords, 2001 Civics and some 2002 and 2003 model Acura TL sedans. The driver’s side airbag is the defective component on the affected vehicles. Honda said owners of those models can check to see if their vehicle is covered by the recall by checking the automaker’s website at www.owners.honda.com/recalls. The Japanese automaker
July 30 (Bloomberg) — Takata Corp. shares fell the most in almost three weeks in Tokyo trading after Honda Motor Co. recalled cars because of defects in air bags made by the Japanese auto-parts maker. The shares fell 5.9 percent to close at 1,599 yen on the Tokyo Stock Exchange, the most since July 13. The stock fell as much as 8.5 percent following the recall announcement yesterday. Takata spokesman Kimio Kobori said the Tokyo-based company supplied the air bags for 2001 Honda Civics and Accords. About 285,000 units of the models have been recalled in the U.S., Honda spokeswoman Yasuko Matsuura said.
