Popular Courses. Business Essentials Guide to Mergers and Acquisitions. Business Business Essentials. Key Takeaways A product recall is the process of retrieving and replacing defective goods. The company or manufacturer absorbs the cost of replacing and fixing defective products, or of reimbursing affected consumers. Recalls can tarnish a company's reputation and can lead to multi-billion dollars in losses. Small companies may not be able to recover from recalls because they operate without robust cash flow and brand recognition.
Larger corporations are better equipped to deal with the short-term impacts of recalls without suffering any long-term consequences. Recalls can affect a company's stock performance as well as its bottom line.
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This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Articles. Macroeconomics How can the problem of asymmetric information be overcome? Business Essentials The 5 Largest U. Product Liability Cases. Partner Links. Related Terms Product Recall A product recall involves removing harmful, defective, or poor quality consumer products from the market.
Product Recall Insurance Product recall insurance covers expenses associated with recalling a product from the market. Supply Chain Management SCM Supply chain management SCM is the management of the flow of goods and services as well as overseeing the processes of converting original materials into final products.
Class Action A class action is a legal course in which a plaintiff brings forward a lawsuit on behalf of a group of people who've suffered a similar loss. Why Reputational Risk Matters Reputational risk is a threat or danger to the good name or standing of a business or entity.
Understanding Quality Control Quality control is a process by which a business ensures that product quality is maintained or improved. Discover what quality control is and how it works. Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.
Commonly recalled products include: child safety seats cosmetics food medication toys vehicles Before you buy a product, especially for a child, find out if the manufacturer has recalled it. Visit these websites to find the latest on safety recalls: Recalls.
Sign up for free email notifications on recalls. Child Safety Seat Recalls. Motor Vehicle Equipment Recalls. Tire Recalls. BRP Can-Am. Genuine Scooters. Where's my VIN? If your vehicle has no unrepaired recalls, you will see the message: "0 Unrepaired recalls associated with this VIN" Manufacturer customer service or other nonsafety recall campaign International vehicles There may be a delay with very recently announced safety recalls for which not all VINs have been identified.
VINs are added continuously so please check regularly. Safety recalls that are more than 15 years old except where a manufacturer offers more coverage Safety recalls conducted by small vehicle manufacturers, including some ultra-luxury brands and specialty applications. What happens to my complaint?
From your complaints to recall campaigns NHTSA issues vehicle safety standards and requires manufacturers to recall vehicles and equipment that have safety-related defects. Report a safety problem. Monthly investigation reports D. Go to search by VIN. The latest updates on Takata recalls Recalls Spotlight monitors high-profile recalls and offers consumers resources to find and address vehicle recalls.
Takata recall spotlight.
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