Categories: BusinessFinanceNews

Hyundai, Kia recall 91,000 US vehicles over fire risks, urge owners to park outside

Hyundai Motor and Kia said on Thursday they are recalling more than 91,000 newer vehicles in the United States because of fire risks and urged owners to park outside and away from structures pending repairs.

The recall covers Hyundai 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles and 2023-2024 Seltos and 2023 Kia Soul, Sportage vehicles.

The Korean automakers said electronic controllers for the Idle Stop & Go oil pump assembly may contain damaged electrical components that can cause the pump to overheat. Owners will be notified in late September and dealers will inspect and replace the electric oil pump controller as needed.

Kia said it has six reports of potentially related thermal events but no accidents or injuries while Hyundai has four similar reports. The automakers told the National Highway Traffic Safety Administration a suspect part was eliminated from production in March.

In addition to the fire risk, heat damage could trigger a short circuit impacting other onboard vehicle controllers, Hyundai said.

Source : Reuters

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

The future is under the glass

Digital design increasingly confers a competitive edge in global tech markets. This column examines how…

1 day ago

Generative AI in German firms: Diffusion, costs, and expected economic effects

The novelty and speed of diffusion of generative AI means that evidence on its impact…

1 day ago

Immigration restrictions and natives’ intergenerational mobility: Evidence from the 1920s US quota acts

Much of the debate over the consequences of immigration restrictions for labour market outcomes of…

1 day ago

Why inflation may respond faster to big shocks: The rise of state-dependent pricing

Macroeconomic models distinguish time-dependent pricing, where firms change prices at fixed intervals, from state-dependent pricing,…

1 day ago

Showing up in the Alps: The economic value of Davos

Attending the World Economic Forum in Davos is costly, with estimates ranging between $20,000 and…

1 day ago

Productivity, firm size, and why distortions hurt developing economies

In many developing countries, productive firms remain too small, while less productive firms are too…

1 day ago