Takata Airbag Recall Effect on Used Pricing, from Auto Remarketing.
WOBURN, Mass. – The effects of a recall can do quite a bit more harm to a vehicle’s image than the immediate problems they typically cause – they can also dramatically accelerate their rate of value depreciation.
That’s according to the analysts at iSeeCars.com, who recently released the results of a study they conducted to see the effect of a specific situation, the Takata airbag recall, on the depreciation rate of the vehicles they were in.
Their findings are staggering – according to their results, based on an analysis of over 19 million used vehicles including vehicles recalled for potential issues with Takata airbags and comparable, unaffected models, the affected vehicles saw an average of 2.2 times higher price drops than vehicles not under the airbag recall.