Yahoo Finance Ford (F) to Recall 1.5M Vehicles Over Brake and Wiper Issues
According to a NHTSA document, Ford F is recalling around 1.3 million vehicles across the United States to address leaky brake hoses that increase the possibility of a crash. Ford Fusions and Lincoln MKZs sedans with model years 2013-2018 are part of the recall. Moreover, the automaker is also recalling nearly 220,000 F-150 pickups to fix defective windshield wiper arms.
NHTSA says the fluid-carrying rubber hoses could rupture prematurely, causing the fluid to leak. In the given case, the driver may experience an increase in pedal travel and a reduction in the rate of deceleration, increasing the possibility of a crash.
According to Ford’s estimates, out of all the vehicles that are part of the faulty brake hose recall, only 2% are detected with the defect. So far, Ford has registered only one case of a crash related to the issue with no mention of injuries.
Warning signs include ‘a change in the feel and travel of the brake pedal’ and the brake fluid indicator turning on. The auto manufacturer plans to notify the concerned owners via mail between Apr 17 and 28. The concerned owners must take their cars to a Lincoln or Ford dealership to get the faulty hoses replaced free of charge. NHTSA claims that the new hoses are made of a different material braid and are more robust.
Concurrently, Ford is also recalling its F-150 pickup trucks, launched in 2021, to inspect and, if necessary, replace faulty windshield wiper arms. A defective spline could result in failure of the windshield wiper motors, because of which the wipers could stop working during adverse weather conditions or even break off. Before failing, one or both wipers start moving slowly or erratically.
Ford has observed 576 cases of inoperative or detached windshield wiper arms and 9 complaints to NHTSA, but no crashes have resulted in any injuries.
The manufacturer plans to inform the concerned truck owners via mail starting Mar 31. Owners can take their trucks to authorized dealers to have their wiper arms inspected. If necessary, the arms would be replaced free of cost. In case, the owner has already paid to replace the arms, the amount will be reimbursed.
Last November, Ford recalled nearly 450,000 F-150 Lightning trucks to fix a windshield wiper issue.
Zacks Rank & Key Picks
F currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few top-ranked players in the auto space are Volvo VLVLY, Michelin MGDDY and Wabash National WNC, all of which sport a Zacks Rank #1.
The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines and marine and industrial engines. The Zacks Consensus Estimate for VLVLY’s 2023 earnings imply year-over-year growth of 6.25%.
Michelin manufactures and sells tires for all kinds of vehicles, publishes maps and guides and operates several digital services. The Zacks Consensus Estimate for MGDDY’s 2023 sales and earnings implies year-over-year growth of 9.15% and 21.57%, respectively.
Wabash is one of the leading manufacturers of semi-trailers in North America. The Zacks Consensus Estimate for WNC’s 2023 sales and earnings implies year-over-year growth of 13.06% and 28.89%, respectively.
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Ford Motor Company (F) : Free Stock Analysis Report
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