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F Ford Motor Company

12.4203
-0.0697 (-0.56%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Ford Motor Company NYSE:F NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -0.0697 -0.56% 12.4203 12.76 12.39 12.64 47,509,383 00:59:25

Ford Door-Latch Issues Expand to Trucks

18/10/2017 4:03pm

Dow Jones News


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By Cara Lombardo 

Ford Motor Co. continues to be plagued by faulty vehicle-door latches as the auto maker on Wednesday expanded the lineup of affected models for the second time this year.

Ford said it would recall roughly 1.3 million F-150 trucks from the 2015 through 2017 model years and F-250 Super Duty trucks from 2017. The company expects the fixes to cost $267 million and will record the charge in its fourth quarter.

Earlier this year, the company recorded a $295 million charge to repair latches in 211,000 vehicles that included Fiesta, Fusion and Lincoln MKZ cars and fix a problem with engines that could result in them catching fire.

Last year, a campaign recalling 830,000 vehicles for similar issues cost $640 million in third-quarter operating profit. Those vehicles included some Focus, Escape SUVs and Mustang models.

Ford said latches used in the recalled trucks can freeze and the springs can bend, causing a door to appear closed when it isn't fully latched. Dealers will install water shields to prevent freezing and repair cables if needed in the affected cars at no cost, the company said.

Ford said it isn't aware of any accidents or injuries related to the recalled cars.

While the Detroit company doesn't expect the latest recall to affect its full-year per-share earnings guidance of $1.65 to $1.85, it is the latest in a series of costly quality problems in recent years. Faulty door latches have caused problems for Ford since 2015, when it recalled 692,000 small and midsize cars for similar issues.

This week the Center for Auto Safety, a nonprofit group founded by Ralph Nader, called on Ford to recall more than a million Explorer SUVs to address an alleged risk of carbon-monoxide poisoning after the auto maker offered to repair vehicles to give "peace of mind" to customers. But Ford hasn't resorted to recalls and re-emphasized that its offer wasn't due to safety concerns.

Ford shares were flat in morning trading.

Write to Cara Lombardo at cara.lombardo@wsj.com

 

(END) Dow Jones Newswires

October 18, 2017 10:48 ET (14:48 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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