The recent automotive recall affecting about 17 million cars with air bags made by Takata is among the largest in history. Ten different automakers have been affected, including models from Ford, Honda and General Motors.
Vehicles affected by the recall have experienced a significant drop in pricing, according to a new study that analyzed pricing data since the Takata recall was announced. The analysts at iSeeCars.com — an automotive industry research firm — looked at about 19 million used vehicles, some of which were affected by the Takata recall and others that weren’t.
The study looked at pricing data for those vehicles from the pre-recall period of October 2013 through February 2014 and compared it with pricing for the same used models from October 2014 through February 2015. For one model affected by the recall (2004 to 2008 Mazda RX-8), pricing dropped up to 3.5 times more than similar models not affected.
Below are the five affected cars that have experienced the biggest price drops since the Takata recall was announced, according to iSeeCars’ data:
#1 - Mazda RX-8 (2004 to 2008 model years)
The average price of a Mazda RX-8 dipped 3.5 times greater than similar non-recalled cars, according to iSeeCars’ study — equaling about a $763 drop. The average price of a used RX-8 dropped 12 percent year over year.
#2 - Infiniti FX35/45 (2003 to 2005)
A 2005 Infiniti FX series vehicle.
The price of a used Infiniti FX series vehicle had a 2.6 times larger drop than similar non-recalled cars for the time periods examined, equating a price differential of $1,131.
#3 - BMW 3 Series - coupe/convertible (2000 to 2006)
A 2006 BMW 3 Series convertible.
The popular BMW 3 Series saw the most drastic change in terms of average price year over year in the Top 5 of iSeeCars’ results. Comparing the two time periods, the price of BMW 3 Series cars dipped 13.4 percent.
#4 - Dodge Dakota (2005 to 2008)
A 2008 Dodge Dakota.
A pair of pickup trucks rounded out the top five, with the price of a 2005 to 2008 model year used Dodge Dakota dropping 1.8 times greater than similar trucks not affected by the Takata recall.
#5 - Toyota Tundra (2003 to 2005)
A 2005 Toyota Tundra.
More good news for pickup enthusiasts, as used Tundras saw a price drop that was 1.5 times greater than similar vehicles not affected by the air bag recall.
Below is a look at the full study, with the top 10 vehicles listed:
Clint Davis is a writer for the E.W. Scripps National Desk. Follow him on Twitter @MrClintDavis.
