Nissan recalls 2 million cars worldwide

Nissan said Thursday it is recalling 2.14 million vehicles in the U.S., Japan, Europe and Asia for an ignition problem that may stall engines.

No accidents have been reported that are suspected of being related to the defect, according to Yokohama-based Nissan Motor Co.

A problem was found in an ignition-system part called the relay for vehicles produced from 2003 through 2006, including small cars like the March, Micra, Cube and Note, and about a dozen other models, such as the Tiida sedan, Titan pickup and Infiniti QX56 luxury model.

Nissan said problems in the ignition relay could cause the engine to stall or fail to restart. The recalls are mostly in Japan, with 835,000 units, and the United States and Canada with a combined 762,000 units.

The faulty vehicles were built in Japan, the United States, Britain, Spain, China and Taiwan between August 2003 and July 2006.

Nissan does not disclose cost estimates on vehicle recalls or any impact on its earnings. But the fix is likely to be relatively cheap, with Nissan estimating less than 25 minutes for the repair.

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Recalls exceeding 1 million vehicles have become more common at big automakers as they use common components across multiple models to save design and production costs.

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Last week, Toyota Motor Corp announced a recall of for defects involving the brake master cylinder and fuel pump wiring. That brought the total number of vehicles recalled worldwide at Toyota in the past year to about 14 million.

Shares of Nissan, held 43 percent by Renault SA, temporarily erased small gains after the news but later recovered to end up 0.3 percent. Most other auto stocks and the broader Tokyo market fell.