NEW YORK (TheStreet) -- Shares of Honda Motor Co. (HMC) are down 4.1% to $31.07 in pre-market trading after it was reported that the National Highway Traffic Safety Administration will examine whether Honda failed to report deaths or injuries involving air bags that are now part of a sweeping federal review, according to Reuters.
Regulators gave Honda three weeks to answer detailed questions about how it sought and logged accident reports for more than a decade. Yesterday's order, which includes 34 points, must be answered under oath.
"Honda and the other automakers are legally obligated to report this information to us and failure to do so will not be tolerated," NHTSA Deputy Administrator David Friedman said in a statement.
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U.S. law requires that automakers submit to the NHTSA on a quarterly basis so-called Early Warning Reporting data on every incident where they have received information about a death or injury involving their vehicles that might have been caused by a defect, Reuters said.
Honda said that it had contracted a third-party audit of potential inaccuracies "and will soon share our findings" with NHTSA.
TheStreet Ratings team rates HONDA MOTOR CO LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation: