Car Brands With the Worst Recalls This Year

The average transaction price for new cars in the U.S. hit an all-time high of $48,043 in June 2022, according to a recent report from Kelley Blue Book. Along with a home and a college education, a vehicle is one of the biggest long-term investments many Americans make – and as such, quality is one of the most important factors consumers consider when going to a dealership lot to buy a car. (Here is a look at the longest lasting cars on the road.) 

Yet each year, carmakers issue hundreds of recalls to remedy defects or safety issues. Some recalls are for relatively minor issues that are easily resolved. In other cases, recalls – especially on new vehicles – can be an indication of deeper problems related to a vehicle’s engineering or manufacturing process. 

Automakers have issued over 500 recalls so far this year, impacting millions of vehicles – and the bulk of those recalls have come from a handful of companies. Using data from the U.S. Department of Transportation, 24/7 Wall St. identified the car companies with the most recalls this year. 

Car companies are ranked by the total number of vehicles potentially affected by recalls announced between Jan. 1 2022 and Aug. 8, 2022. It is important to note that a single vehicle can be impacted by more than one recall and that each vehicle affected by a single recall is counted towards the total number of potentially impacted vehicles. 

Each company on this list has at least 100,000 vehicles potentially affected by recalls issued this year, and several have well over 1 million. This includes Ford, which has more than double the number of potentially affected vehicles than any other company. (Here is a look at America’s worst car brands.) 

The reasons these recalls have been issued range in severity, from a missing warning label on the brake fluid reservoir cap in some Cadillac XT6 SUVs to a fractured drive shaft in some Ford F-250 and F-350 Superduty trucks. 

Recalls are not only inconvenient and potentially dangerous for motorists, but they are also costly to car companies. When a recall is issued, all related repair costs are covered entirely by the manufacturer. Ford, for example, set aside $4 billion to cover warranty costs in 2021. The National Highway Traffic Safety Administration offers an online tool to check if your vehicle is impacted by a recall.

Click here to see car brands with the worst recalls this year.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Source: Read Full Article