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Ford Motor Company (F) - free report >>
Allison Transmission Holdings, Inc. (ALSN) - free report >>
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Ford (F) Recalls Fusion & Lincoln MKZ Models, Shares Fall
Ford Motor Company (F - Free Report) announced two safety recalls in North America covering nearly 650,000 vehicles.
The first recall covered Ford Fusion vehicles of model year 2013-16 and Lincoln MKZ vehicles of model year 2013-15. In these vehicles, the seat belt anchor pretensioner cables could separate due to high temperatures generated during deployment. This increased the risk of injury to the occupant.
Ford is recalling 602,739 vehicles in the United States, 35,614 in Canada, 8,665 in Mexico and 653 in federalized territories to fix this problem by insulating the front driver and passenger seat belt anchor pretensioners. Globally, 680,872 vehicles are affected by this issue. There have been reports of two injuries caused by this problem.
The second recall covers 27 Ford Fusion vehicles of model year 2017. These vehicles may have improperly welded pivot pins in the second-row left-rear seat back frame. This increases the risk of injury in case of an accident.
Ford’s shares fell 1.5% to close at $12.24 on Dec 2, following the announcement. On the previous day, the company’s shares had hit a 2-month high on strong November sales data.
FORD MOTOR CO Price
FORD MOTOR CO Price | FORD MOTOR CO Quote
So far this year, Ford has underperformed the Zacks-categorized Auto Manufacturers-Domestic industry due to weak operating results in most regions and poor forecast for the full year.
Zacks Rank
Ford carries a Zacks Rank #3 (Hold). Some better-ranked auto stocks include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
Allison Transmission, sporting a Zacks Rank #1 (Strong Buy), has a long-term growth rate projection of 11%.
America's Car-Mart has a long-term expected growth rate of 45.5%. The company sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Rush Enterprises, carrying a Zacks Rank #2 (Buy), has a long-term expected growth rate of 15%.
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