News Update: Honda Slips On Recall Of 384220 Accords, Civics and Elements
Shares of Honda (NYSE:HMC) are trading 1% lower on news that the company is recalling 384220 vehicles due to faulty ignition system that could allow the cars to turn off without being in park. According to a report from the National Highway Traffic Safety Administration, the problem increases likelihood of the car rolling. According to Honda, the recall affects 2003 models of the Accord and Civic as well as 2003-2004 models of the Element. Honda also said it expects the recall to begin in late September.