Ford (F) Makes Announcement of 3 Recalls in North America
On Friday, Ford Motor Co. (F) announced three separate recalls in North America. The automaker recalled 66,000 Escape hybrids of model years 2005 to 2008 and 7,800 Mercury Mariner crossover vehicles of model years 2006 to 2008 to fix a malfunctioning coolant pump. Ford revealed in a regulatory filing that the malfunction in the coolant pump can lead to overheating of the hybrid electronics systems. This may ultimately stop the powertrain from functioning, which can result in stalling of the vehicle.
Most of the recalled vehicles are in the U.S., while around 3,500 are in Canada. Ford does not have any report of crashes or injuries related to the problem.
Additionally, Ford announced the recall of around 1,700 F-650 and F-750 pickup trucks of model year 2014 with diesel engines in the U.S. and Canada. The company believes that the fuel filter seals in these trucks have a problem which can cause the engine to stop. Ford does not have any reports of crashes or injuries related to this problem.
The third recall was for 2014 model year Ford Focus sedans and 2015 model year Lincoln MKC crossovers. According to the company, about 400 of these vehicles may have a problem in the fuel delivery module filter, which can also cause the vehicle to stall. No crashes or injuries were reported for this problem.
Ford currently carries a Zacks Rank #3 (Hold). Some stocks worth considering in the auto sector include Tesla Motors, Inc. (TSLA), Nissan Motor Co. Ltd. (NSANY) and Tata Motors Ltd. (TTM). All these sport a Zacks Rank #1 (Strong Buy).
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