Ford Recalls 870,000 F-150 Trucks On Parking Brake Issues: Report
Portfolio Pulse from Nabaparna Bhattacharya
Ford Motor Company has recalled 870,000 F-150 trucks in the US due to a potential wiring issue that could activate the electric parking brake. The recall covers F-150 trucks from 2021 through 2023 equipped with a single exhaust system. Ford has received 918 warranty claims and three field reports for the wire chafing condition in North America. The company's shares are trading lower by 4.5% to $13.12.
July 28, 2023 | 5:14 pm
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NEGATIVE IMPACT
Ford's recall of 870,000 F-150 trucks due to a potential wiring issue could negatively impact the company's reputation and financials. The company's shares are already trading lower.
Recalls often lead to negative investor sentiment as they indicate potential quality control issues and can lead to significant financial costs. The fact that Ford's shares are already trading lower suggests that the market is reacting negatively to this news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100