Vehicle recalls top 13m in 2020
Safety flaws have led to the recall of more than 13 million vehicles globally in 2020, according to a new report from Finbold.com.
The company says 13,362,759 units have been the subject of recalls by carmakers between January 1 and July 13 this year, with Toyota leading the way.
The Japan-based manufacturer had about 3.95m recalls, claims Finbold.com, with Ford next on 2.9m. Completing the top five marques for recalls is Volvo with 2.8m, Fiat Chrysler Automobiles on 1.74m and Honda with 1.4m.
Kia was sixth on the recalls chart after issuing alerts for 244,000 vehicles, followed by Hyundai with 207,000. Nissan only had 49,225 recalls, while Mazda and Volkswagen had 24,00 and 16,098, respectively.
Electric-car company Tesla was next with 15,000 units, Bentley has recalled 6,000 cars, BMW 3,800 and McLaren has made recalls for 2,763 vehicles so far this year.
The UK-based Finbold.com says the data for its findings was sourced from publicly available sources after manufacturers have issued recalls because a vehicle poses an “unreasonable safety risk or fails to meet minimum safety standards”.
Carmakers are required to fix such problems or in some cases repurchase the vehicle at no charge to the owner.
Fuel pump woes
One of the main reasons for Toyota’s recalls was complaints regarding issues with a fuel pump that had the potential to cause engine stalls.
“The issue was mainly reported in the warmer regions of the United States where the vehicles stalled especially at low speeds,” Finbold.com says.
“In general, most recalls were due to grave safety issues that can lead to fatal accidents. In this case, authorities in various countries are keenly monitoring new vehicles for safety flaws.”
Toyota heads revenue charts
The Finbold.com research also looked at the leading vehicle manufacturers based on sales revenue in 2019.
Toyota took top spot, raking in US$280.5 billion, followed by Volkswagen Group at US$275.2b. Daimler had net revenue of US$189.2b, Ford made US$149.9b, and Honda was fifth in the rankings on US$142.4b.
According to the study, General Motors was sixth after recording revenue of US$137.2b, followed by China-based SAIC Motor at US$121.1b.
UK-based Fiat Chrysler Automobiles took US$121.1b from sales in 2019, BMW Group had returns of US$116.6b. Nissan completes the top 10 with US$96.3b.
