Honda being investigated over engine failures

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Honda is in trouble with U.S. regulators.

Transcript

00:00On Monday, the Dow closed above 44,000

00:02for the first time in history and the

00:05S&P 500 made its first close above 6000.

00:08Earnings season rolled on on Tuesday.

00:10Home Depot topped quarterly sales and

00:13profit forecasts post hurricane repairs

00:15and unusually warm temperatures

00:16were good for business.

00:18In other news,

00:19the National Highway Traffic Safety

00:22Administration has opened a probe

00:24into 1.4 million Hondas and Acuras.

00:26The investigation covers model

00:28years 2016 through 2020 and involves

00:31the Honda Pilot, Honda Odyssey,

00:33Honda Ridgeline, Acura MDX and Acura TLX.

00:36The federal agency is looking into

00:39complaints of engines that completely fail.

00:42The probe specifically focuses on

00:44models with 3.5 liter V6 engines,

00:47where connecting rod bearings malfunction,

00:50thus impacting the engines ability

00:52to keep the car operating.

00:55This probe comes with a

00:57This probe comes one year after

01:00Honda supposedly fixed the problem

01:02after issuing a recall impacting

01:04roughly 250,000 vehicles,

01:06but new complaints received by

01:08NHTSA came from car owners whose

01:10vehicles were not included in that

01:13original recall. One of those

01:15complaints involved a non fatal crash.

01:17As a result, NHTSA is conducting

01:19the probe to determine if Honda

01:22and Acura have a wider problem

01:24with this faulty engine part.

01:26Honda says it will cooperate

01:28with the investigation.

01:29That'll do it for your daily briefing

01:31from the New York Stock Exchange.

01:32I'm Conway Gittens with the street.

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