Honda Motors says recent recalls of airbags is having a major impact on the carmaker.
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A Honda executive said the company has cut its sales forecasts because of the impact of recalls.
He also said competition in Japan and China has affected sales as well.
Today’s announcement comes as U.S. consumers filed suit against Honda and other carmakers and the airbag maker Takata yesterday.
Last week Honda apologized for its fifth recall of its fit hybrid.
An executive vice-president said because of the multiple recalls on the fit hybrid, the company has had to do a full inspection of all of its new models.
And that will delay Honda’s rollout of other new models.
The suit was filed in federal court in Florida and is believed to be the first in the U.S. to be filed seeking class-action status on behalf of consumers nationwide.
If that status is granted, it could subject Takata to a bigger payout in trial or settlement if car owners sued individually.
Honda said Takata will be asked to pay back the recall costs if it is found responsible.
Honda is Japan’s third largest automaker by revenue.
Its operating profit fell 4.1% last quarter.
Honda now expects to see more than 4% fewer vehicles this year.
Read the original recall below:
Safety regulators issued an urgent alert for millions of drivers on Monday.
Toyota, Honda, Mazda, BMW, Nissan, and General Motors are among automakers recalling vehicles with Takata airbags.
There are reports of the airbags exploding and spraying shrapnel and metal.