Business

US Gov’t Says Nearly 64M Vehicles Were Recalled Last Year

Published

11 years ago

February 13, 2015

In this April 18, 2014 file photo, Wendi Kunkel points out the key in the ignition on her recalled 2010 Chevy Cobalt, in Rockwall, Texas. Government statistics released Thursday, Feb. 12, 2015 show that automakers issued 803 recalls totaling almost 64 million vehicles in the U.S. last year, more than double the old record set a decade earlier. (AP Photo/LM Otero, File)

TOM KRISHER, AP Auto Writers
DEE-ANN DURBIN, AP Auto Writers

DETROIT (AP) — For the U.S. auto industry, 2014 was the year of the recall.

Automakers issued 803 recalls totaling almost 64 million vehicles, more than double the old record from a decade ago, according to government figures.

The National Highway Traffic Safety Administration, which released numbers on Thursday, said its investigations influenced 15 percent of the recalls. Automakers did the rest on their own.

The total number of recalled vehicles shattered the old record of 30.8 million in 2004. The previous record for number of recalls was 684, in 2008.

General Motors led automakers with 84 recalls totaling nearly 27 million vehicles in the U.S., according to company figures. Recalls of 2.6 million small cars with faulty ignition switches triggered a companywide safety review that led to still more recalls.

The switches, which can slip out of the run position and cause cars to stall unexpectedly, have caused crashes that killed at least 52 people. GM acknowledged knowing about the defect for more than a decade before starting the recall.

Faulty air bags caused the most recalls of any auto part last year: 21.8 million, or 34 percent of the total, according to Stericycle, a firm that helps companies handle recalls.

At least 12 million vehicles in the U.S. from 10 automakers have been recalled for defective air bag inflators made by Japanese parts supplier Takata Corp. The inflators can explode with too much force, spewing shrapnel into the cabin. At least six people have died worldwide and 64 others have been injured due to the problem.

Electrical problems and issues with the engine and transmission were the second and third most common problems, Stericycle said.

Consumers should expect a higher than usual number of recalls this year as well, said John Holloran, Stericycle’s vice president of global automotive strategy. Increasing government pressure and big fines have made automakers sensitive about reporting recalls as quickly as possible.

“In that type of regulatory environment, it’s logical to assume that the trend is going to continue,” he said.

Holloran said this will also be a year of repairs, as automakers scramble to get parts to replace the faulty Takata air bags and track down affected consumers.

Recalls vary widely in size and seriousness. Among the largest in 2014 was General Motors’ recall in June of 5.9 million older sedans, including the Pontiac Grand Am, for ignition switch problems. But there are also small recalls, like Maserati’s October recall of 139 vehicles for improperly crimped fuel hoses that might cause a fire.

Recalls don’t always indicate a safety problem, either. In June, Ford recalled 368 Transit Connect vans shipped to Puerto Rico because their brake reservoir caps had European labels, with pictures instead of words. U.S. regulations require words.

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Related Topics:auto recalls car recalls general motors GM recalls NHTSA Takata Takata recall

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

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3 weeks ago

March 17, 2026

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As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC