NEW YORK (TheStreet) -- Toyota Motor (TM) announced that it was expanding its 2013 recall of nearly 2 million vehicles by 650,000 due to faulty airbags.
The world's leading automaker expanded its recall after revealing that the air bag supplier failed to furnish the company with the serial numbers of all the airbags that were affected.
Honda (HMC) and Nissan (NSANY), along with Toyota, recalled over 3 million vehicles last year due to the faulty airbags, all supplied by Tokyo based company Takata.
Toyota shares are up 0.3% in early market trading on Wednesday.
TheStreet Ratings team rates TOYOTA MOTOR CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TOYOTA MOTOR CORP (TM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, attractive valuation levels, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."