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CARFAX: Urgent 'Do Not Drive' Recalls Spike 65% Since Summer 2024

1. Do Not Drive recalls have surged 65%, reaching 725,000 vehicles. 2. Critical recalls involve severe safety risks like brake failures and exploding airbags. 3. Total unrepaired recalls decreased to 54.6 million, down by four million since last year. 4. CARFAX's initiatives improve recall awareness and vehicle safety across states. 5. S&P Global Mobility, linked to SPGI, provides vital automotive data solutions.

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Why Neutral?

The rise in recalls may increase demand for CARFAX services, but broader market impacts appear limited, similar to past recalls that didn't significantly affect SPGI's stock.

How important is it?

The article signals increased reliance on CARFAX, a subsidiary of SPGI, which may enhance SPGI's overall market position amidst rising safety concerns.

Why Short Term?

Increased recalls could influence CARFAX's immediate revenue, but sustained stock impact depends on longer-term consumer behavior and auto industry dynamics.

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Automakers Warn Owners With 'Do Not Drive' Recalls To Not Operate Those Vehicles , /PRNewswire/ -- In a concerning spike affecting hundreds of thousands of drivers nationwide, the number of critical "Do Not Drive" recalls has jumped more than 65% since the summer of 2024, to 725,000, according to CARFAX data. Automakers working with the National Highway Traffic Safety Administration issue "Do Not Drive" recalls when a vehicle's defect is so dangerous that it should not be operated under any circumstances — not even for a short trip. The risk of a crash, fire, or serious injury is so severe that both manufacturers and federal safety regulators advise owners to park the vehicle immediately and have it towed to a dealership for repairs. These recalls often involve critical safety systems, including brake failures or defective airbags that can explode. "When it comes to safety recalls, overlooking or ignoring them can put lives at risk," said Patrick Olsen, Editor-in-Chief at CARFAX. "The good news is that checking for open recalls is fast and simple with our free online tools, like at Carfax.com/recall, and repairs are always free for consumers. Every driver should know their vehicle's status and act without delay." Here are the Top 15 states with vehicles that have a "Do Not Drive" recall: 1 CA        118,400 2 TX        61,200 3 FL          40,600 4 AZ        28,000 5 OH        25,400 6 PA        23,500 7 NC        22,400 8 GA        21,900 9 TN        21,300 10 IL          18,800 11 SC        18,100 12 VA        18,100 13 NY        18,000 14 MI        17,500 15 WA      17,400 CARFAX data also found that the total number of vehicles in the country with at least one recall has dropped by about four million since last year, to 54.6 million vehicles with unrepaired recalls nationwide. This decline underscores the impact of CARFAX, the Automakers, and NHTSA's efforts in creating greater awareness of open recalls and having them fixed.    "Programs like the Vehicle Recall Search Service, launched in 2018 by CARFAX and the Alliance for Automotive Innovation, help state motor vehicle, public safety, and inspection departments identify vehicles with unresolved recalls," said Faisal Hasan, Vice President of Data at CARFAX. "To date, this initiative has pinpointed millions of vehicles that need attention, making roads safer for everyone." Eight state DMVs use the Vehicle Recall Search Service: California, New York, Ohio, Arizona, Texas, Connecticut, and Maryland; Washington and Puerto Rico joined most recently. The Service is free for states and other qualified users. Consumers can check for free online at CARFAX whether their vehicle has an open recall. The CARFAX Car Care app also sends free maintenance reminders, from recalls to oil changes, to help drivers keep themselves and their vehicles safe. Editor's note: Localized numbers per state and DMA for the number of Do Not Drive recalls can be made available upon request. Interviews with a Carfax expert are available anytime. Please contact Em Nguyen at [email protected]. About CARFAX CARFAX, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX® vehicle history information. The expert in vehicle history since 1984, CARFAX provides CARFAX Car Listings, CARFAX Car Care, CARFAX History-Based Value and the flagship CARFAX Vehicle History Report to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post. Shop, Buy, Service, Sell – Show me the CARFAX®. S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. SOURCE CARFAX WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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