Subaru Recalls Vehicles Over Loss of Steering

by Christopher Freeburn | May 16, 2013 11:53 am

subaru logo Subaru Recalls Vehicles Over Loss of Steering [1]Japanese car-maker Subaru has issued a recall for 5,379 2013 Outback and Legacy vehicles.[2]

The affected cars have defective steering column shafts that can disconnect, potentially resulting in a loss of steering control during driving. The company says that no accidents or injuries have been linked to the problem, the Los Angeles Times noted.

Vehicles included under the recall were manufactured at the company’s factory in Indiana. Earlier this month, Subaru — also known as Fuji Heavy Industries (PINK:FUJHY[3]) — announced that it would spend $400 million to double the factory’s production[4] of Toyota (NYSE:TM[5]) Camrys. Toyota owns a 16.% stake in Subaru.

The company said it would contact owners of vehicles that are being recalled. Repairs will be made at Subaru’s expense.

In March, Subaru recalled 47,000 vehicles over key fobs that could inadvertently cause car engines to start if dropped[6].

Shares of Fuji Heavy Industries dipped slightly in Thursday morning over-the-counter trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/03/subaru-logo.jpg
  2. 2013 Outback and Legacy vehicles.: http://www.latimes.com/business/autos/la-fi-hy-autos-subaru-recall-steering-20130515,0,1534930.story
  3. FUJHY: http://studio-5.financialcontent.com/investplace/quote?Symbol=FUJHY
  4. it would spend $400 million to double the factory’s production: http://investorplace.com/2013/05/subaru-to-spend-400m-on-indiana-factory-hire-900/
  5. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  6. could inadvertently cause car engines to start if dropped: http://investorplace.com/2013/03/subaru-recalls-47k-cars-over-self-starting-risk/

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