CARFAX: 'Park Outside' Recalls Jump Nearly 50% Due to New Fire Risk to More than 3.2 Million Vehicles Nationwide
CARFAX (NYSE:SPGI) reports that Park Outside recalls jumped nearly 50% in one week, now affecting more than 3.2 million vehicles nationwide.
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Rhea-AI Summary
CARFAX (NYSE:SPGI) reports that Park Outside recalls jumped nearly 50% in one week, now affecting more than 3.2 million vehicles nationwide. The surge follows a Stellantis safety recall of over 1 million Jeep Wrangler and Gladiator vehicles for potential fire risk from an electrical connection issue.
Details
News Market Reaction – SPGI
On Jun 18, the day this news came out, SPGI closed 1.70% below the previous close.
Data tracked by StockTitan Argus for the Jun 18 session.
Key Figures
- Park Outside recalls
- nearly 50% increase
- Week-over-week jump in Park Outside recall volume
- Vehicles under Park Outside recalls
- more than 3.2 million vehicles
- Nationwide total affected vehicles
- Stellantis vehicles recalled
- more than 1 million vehicles
- Stellantis safety recall tied to fire risk
- Texas vehicles recalled
- 302,000
- Top state by Park Outside recall volume
- California vehicles recalled
- 300,000
- Second-highest state Park Outside recall volume
- Florida vehicles recalled
- 279,000
- Third-highest state Park Outside recall volume
- Model years affected
- 2021–2025
- Jeep Wrangler and Gladiator model years in recall
- Top 10 states listed
- 10 states
- Table of states with most Park Outside recalls
Historical Context
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24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
electric hydraulic power steering pump technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
More than 1 million Stellantis vehicles recalled for fire risk
Stellantis, the parent company of Chrysler and other brands, said the recalled vehicles, primarily model-year 2021-2025 Jeep Wrangler SUVs and Gladiator pickup trucks, face a potential fire risk. Stellantis tells CARFAX that the Jeeps "may have an electrical connection issue in the electric hydraulic power steering pump wiring. In rare circumstances, this may cause combustible materials to overheat, potentially leading to a vehicle fire."
"An unrepaired Park Outside recall doesn't just put a vehicle at risk, it can threaten garages, homes, and anything parked nearby," said Faisal Hasan, Vice President of Data Acquisition at CARFAX. "Although we never want to see a jump in these serious recalls, the good news is recall repairs are free. You can check whether your car has an unfixed recall, for free, at carfax.com/recall."
Here are the Top 10 states with the most vehicles under Park Outside recalls:
1. Texas | 302,000 |
2. California | 300,000 |
3. Florida | 279,000 |
4. Ohio | 138,000 |
5. Pennsylvania | 136,000 |
6. New York | 121,000 |
7. | 117,000 |
8. | 123,000 |
9. Illinois | 109,000 |
10. Arizona | 96,000 |
A "Park Outside" recall is issued when automakers and federal safety regulators determine a vehicle could catch fire even when it is turned off and unattended. Owners are advised to park those vehicles outdoors and away from homes, garages, and other structures until the recall repair is completed.
CARFAX recommends that vehicle owners check for open recalls regularly and schedule repairs as soon as possible. Recall repairs are performed at no cost to the owner. Drivers can visit carfax.com/recall to see whether their vehicles have an open recall. Drivers can also use the free CARFAX Car Care app to stay on top of routine services and critical maintenance with timely reminders, recall alerts, and other important vehicle updates.
Stellantis added in a statement to CARFAX that "affected customers will be notified" and that they anticipate "a solution no later than July."
Editor's note: State and DMA data is available upon request. Interviews are also available upon request. Please contact Em Nguyen at emnguyen@carfax.com.
About CARFAX
CARFAX, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service, and sell 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.
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SOURCE CARFAX
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