AutoNation Halts Sales of Used Cars Under Takata RecallsMark Clothier
AutoNation Inc., the largest U.S. new-car retailer, stopped selling used vehicles that are subject to the Takata Corp. air-bag recalls and warnings.
The action affects fewer than 400 cars, AutoNation spokesman Marc Cannon said in an e-mail. The Fort Lauderdale, Florida-based company’s decision was first reported by the Wall Street Journal.
Air bags made by Takata are linked to at least four deaths and more than 30 injuries in the U.S. after the safety devices deployed with too much force, spraying metal shrapnel. U.S. authorities have started investigating and almost 8 million cars, made by 10 automakers, have been recalled to fix the hazard.
AutoNation rose 6.9 percent to $55.58 at the close in New York time. The shares have gained 12 percent this year, compared with a 7.4 percent increase in the Standard & Poor’s 500 Index.