Vehicle Recalls Fell Last Year
Second consecutive decline, though, actually affected more vehicles.
Electrical systems were the most common culprit in recalls over the year, representing 193 recalls, or 21%.
IMAGE: Pexels/Andrea Piacquadio
Automotive recalls fell in the U.S. for the second year in a row last year, though the number of effected units rose sharply.
An annual report released by Sedgwick shows recall events declined by 4% to 916, but effected units jumped 23% to 38.4 million, a three-year high.
The third quarter led the recall events decline with 197, said Sedgwick, pointing out that only two other quarters in the past decade have seen fewer.
Electrical systems were the most common culprit in recalls over the year, representing 193 events, or 21%, the highest level for electrical in more than five years. The trend continued in January to start 2024 and Sedgwick expects it will persist with growing industry emphasis on electrified models.
Originally posted on Auto Dealer Today
More F&I
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →
Not Just Any Tire Will Do
More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
Read More →