2014 Was Record Year for Car Recalls
The auto industry struggled with millions of recalls in 2014. The National Highway Traffic Safety Administration (NHTSA) has issued a summary report tallying the number of vehicles recalled in 2014.
According to the report, an astonishing 64 million cars and trucks were recalled for various safety defects. More than four times the number of vehicles that were sold were recalled. From defective brakes and airbags to stalling vehicles, the industry was plagued by recall after recall.
The total cost of the recalls will not be determined until the litigation surrounding the injuries caused by the defects is fully resolved. Tens of thousands of lawsuits are pending against the auto giants in state and federal courts across America.
While experts hope that the more than 60 million vehicles that were recalled in 2014 are an aberration, more stringent legislation is being considered that may increase the fines for delaying recalls. These increased fines may increase the number of recalls as companies seek to avoid being penalized with massive fines.
Cars were recalled for a number of safety defects, including those that involved:
- Ignition switches
- Electrical systems
In addition to the massive General Motors and Takata recalls, companies such as Chrysler, Toyota, Ford, Nissan, Hyundai, Volkswagen, and BMW.
Despite the number of recalls, financial experts report that sales of vehicles were not affected. In fact, automotive dealers recorded record profits in 2014, after selling more than 16.5 million cars and trucks. The National Automobile Dealers Association, which represents more than 16,000 dealers across the nation reported that the average dealership made more than $1 million in profit in 2014.
Local Auto Accident Lawyers
Experienced auto accident attorneys at Peterson & Associates, P.C.™ are currently worried that so many recalled vehicles are still on the road without being fixed.
If 90 percent of 60 million vehicles have yet to be fixed, this means that millions of Americans are driving in death traps. This is unacceptable.
If you or someone you love has been injured in an auto accident involving a recalled vehicle, contact our law firm to protect your legal rights.