Japanese automaker Honda Motor Corporation will recall almost 400,000 vehicles sold throughout the United States due to ignition issues. The company’s shares were trading at a 1.2% decline from their previous rate after the company announced intentions of recalling the vehicles, which those involved in the automotive industry believe could cost the company tens of millions of dollars.

Honda is one of the world’s largest automotive and heavy industries companies, building millions of vehicles annually and competing in both the consumer cars and motorcycle markets. The Japanese corporation also manufacturers engines and equipment for boats and specialist engines for vehicles designed to provide public transportation or suited for specific industrial tasks.

The affected vehicles include the Accord, Civic, and Element – three cars popular throughout the United States. The problem in question affects the ignition system of the vehicle, causing random shutdowns of the engine without the car in locked gearing. Safety experts believe that the defect is unlikely to cause injury or pose a threat to drivers, although it may result in a small loss of control.

While this recall is likely to gain less negative press than Toyota’s large vehicle recall earlier this year, it’s the second of its type for Honda this year. Earlier in 2010, the company’s road motorcycle division was forced to recall thousands of VT1300 motorcycles which were sold throughout the country using the wrong axle weight stickers. Once again, the fault in question provided no major safety risk for users of the motor vehicles, although it may have affected reliability.

Honda also ran into trouble this year due to a failing battery issue. The company has since replaced the affected batteries free of charge, leading many owners and brand enthusiasts to believe that the Japanese automaker will complete the recall process fairly smoothly both for owners and company shareholders.