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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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Jamie Dimon says his stockbroker father taught him to invest with a 'brutally hard' childhood game
Hyundai

Hyundai recalls 419,000 vehicles for three defects

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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August 1, 2014, 4:01 PM ET
Inside a Hyundai Motor Dealership As 2Q Earnings Are Announced
The Hyundai Motor Co. badge is displayed on the front grille of a Santa Fe DM sport-utility vehicle (SUV) at one of the company's dealerships in Seoul, South Korea, on Wednesday, July 24, 2013. Hyundai Motor, South Korea's largest automaker, is scheduled to announce second-quarter earnings today. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBloomberg Bloomberg via Getty Images
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Earlier this week, Hyundai announced a recall of 883,000 vehicles. That number just got a lot higher.

On Friday, the automaker announced that it’s recalling 419,000 additional vehicles in three separate actions. The issues include brake, electrical and suspension malfunctions, according to documents posted to the National Highway Traffic Safety Administration’s website.

The largest action announces the recall of 225,000 Santa Fe vehicles from 2001-2006. In this case, the front coil spring may fracture as a result of corrosion causing it to “make contact with the tire,” possibly puncturing it and “increasing the risk of a vehicle crash,” according to the online document.

The regional recall includes the District of Columbia and 20 “salt belt” states, including Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, and Wisconsin.

The second largest action accounts for 133,000 2011 Hyundai Sonatas that were manufactured between 2009 and 2010. The vehicles may suffer from “an insufficient seal” that causes brake lines to start leaking hydraulic fluid.

The third covers 61,000 Veracruz crossovers from model years 2007 to 2012 due to potential oil leakage from the cylinder head. As a result, the engine could stall, increasing the likelihood of a crash.

In each case, the recall is expected to start in September of this year.

GM, meanwhile, recalled 2.6 million cars earlier this year due to a defective ignition switch. The issue has been linked to the deaths of 13 individuals.

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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