In 2014, vehicle recalls hit a record high of almost 64 million vehicles. This number alone doubled the 2004 record of 30.8 million. Unfortunately, vehicle recalls are more prevalent than one might think. Since March 2008, there have been 8,759 satefy related recalls (which equates to more than 200 every year).
In recent years major original equipment manufacturers (OEMs) have announced huge costs due to vehicle recalls, even some vehicle satefy hazards resulting in driver deaths. Last year a prominent manufacturer lost at least $4.1 Billion in repair costs and victim compensations. Another vehicle recall in 2010 costed a manufacturer upwards to $5 billion in repairs and compensations, making it the costliest recall ever. Again, this monetary cost doesn't due justice to the hundreds of lives lost due to faulty vehicles either.
Unfortunately, still according to the National Highway Traffic Safety Administration, at least a third of vehicles recalled every year do not get repaired. This provides a huge liability to OEMs and can cost them even later down the road. The infographic below explains how big data can be used to identify these vehicles so manufacturers can properly follow-up with these drivers and remove dangerous vehicles from the road.