What's Going On With Honda Motor Stock Friday

Honda Motor Company, Ltd HMC shares are trading lower Friday amid reports of the automaker recalling 1.2 million vehicles in the U.S., the National Highway Traffic Safety Administration (NHTSA) said.

The recall covers some 2018-2023 Odyssey, 2019-2022 Pilot and 2019-2023 Passport vehicles, Reuters reports. 

A defective communication coaxial cable connector hindered the appearance of the rearview camera image on display.

Also Read: Honda Motor Clocks 16% Sales Growth In FY23, Expects Stronger Motorcycle Sales In FY24

Dealers will install an improved cable harness between the existing display audio and vehicle terminal connections and a straightening cover over the vehicle cable connector to properly connect the audio display unit.

Honda previously extended the warranty to vehicles affected by the issue in 2021. The automaker received 273,870 warranty claims for the problem between May 2017 and June 2023, with no reports of injuries or deaths.

In March, Honda recalled a half-million vehicles in the U.S. and Canada due to a defect in the front seat belts.

The recall covered some of the automaker’s top-selling models, including the 2017 through 2020 CR-V, the 2018 and 2019 Accord, the 2018 through 2020 Odyssey, the 2019 Insight, and Acura RDX from the 2019 and 2020 model years, the New York Post reported.

Price Action: HMC shares traded lower by 2.94% at $30.05 premarket on the last check Friday.

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