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Honda Motor Co. said it will stop leasing cars and trucks in New York, following similar moves by General Motors Corp. and Ford Motor Co.,
because of state laws that allow leasing companies to be held liable in vehicle accidents, according to the Detroit Free Press.
The Japanese automaker's American Honda Finance Corp. unit will halt leasing in New York starting July 31, spokesman Mike Spencer said. The company will also suspend new leases in Connecticut and Rhode Island should legislatures of those states also fail to change
their liability laws, he said.
Automakers have objected to vicarious liability laws in the three states that allow financial institutions to be held liable in lawsuits against people who lease vehicles from them,
Honda said in a statement.
New York's Legislature adjourned for its summer break without altering the statute, created in the 1920s. Lawmakers in Connecticut and Rhode Island remain in session this week.
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