Over 13 million vehicles have been recalled around the world to so far this year, writes David Miles.
Data acquired by Finbold.com indicates that approximately 13,362,759 million vehicle units have been recalled globally by different manufacturers between January 1st and July 13, 2020. The recalls are mainly due to safety concerns.
Toyota is the world’s top car maker but it also leads in recalls and revenue. This year, Toyota has the highest number of recalls at about 3.95 million followed by Ford at 2.9 million. Volvo comes third with 2.8 million recalls while Fiat Chrysler Automobiles lies in the fourth slot with 1.74 million recalls. Honda Motors is fifth with about 1.4 million recalls.
KIA’s 244,000 recalls places it in the sixth spot followed by Hyundai at 207,000. Nissan had 49,225 recalls followed by another Japanese manufacture Mazda that has 24,000 recalls. Germany’s Volkswagen has recalled 16,098 vehicles followed by America’s electric vehicle manufacturer Tesla at 15,000. Bentley has recalled 6,000 vehicles. BMW and McLaren had one of the least recalls at 3,800 and 2,763 respectively.
The research acknowledges the impact of the current crisis on the vehicle recalls. According to the research report, “The over 13 million vehicle recalls were done mostly during the coronavirus pandemic, a period when social distancing was being advocated to contain the health crisis. At the same time, some manufacturers had scaled down their operations due to the economic impact of the pandemic. This factor might affect the time frame when these vehicles are returned to owners.”
The Finbold.com research also reviewed the leading auto and truck manufacturers worldwide in sales revenue. Toyota motor occupies the top spot at $280.5 billion followed by Volkswagen Group at $275.2 billion.
Daimler had net revenue of $189.2 billion some way ahead of Ford Motor at $149.9 billion. Honda Motor recorded the fifth highest sales revenue at $142.4 billion. In the sixth spot, General Motors recorded a revenue of $137.2 billion followed by China-based SAIC Motor at $121.1 billion.
United Kingdom-based Fiat Chrysler Automobiles registered a revenue of $121.1 billion while BMW Group had returns of $116.6 billion. From the list of overviewed vehicle manufacturers, Nissan Motor had the least revenue at $96.3 billion.