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Ford (F) Recalls 32,000 Vehicles to Replace Faulty Airbags
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Ford Motor Company (F - Free Report) is recalling roughly 32,000 vehicles in North America, due to a safety compliance issue associated with the vehicles’ airbag. The recalled vehicles include 2016–17 Ford Edge and 2016–17 Lincoln MKX built at the Oakville Assembly Plant as well as the 2017 Lincoln Continental built at the Flat Rock Assembly Plant.
Ford will be replacing the driver frontal airbag module in the vehicles free of cost. The company was informed by Takata that the vehicle airbags could either inflate partially or the cushions might get detached due to misalignment. The problem may result in non-compliance with F/CMVSS 208 and poses the threat of injury to the driver incase of an accident.
Ford is unaware of any accidents of injuries related to this issue. Of the roughly 31,867 affected vehicles in North America, 27,531 units are in the U.S. while 4,336 units are in Canada.
The problem in these airbags is not related to Takata’s airbag inflators which can rupture in case of a crash for which massive recalls are being made by a number of auto makers. However, Takata, has recently pleaded guilty to criminal charges associated with a filing related to the airbag rupture issue and has agreed to pay $1 billion.
Ford has underperformed the Zacks categorized Auto Manufacturers-Domestic industry over the last three months. The company’s shares increased 2.1% over this period, while the industry saw a 10.7% gain. Increasing recalls, concerns in certain end markets and lower than expected earnings are adversely affecting share performance.
Honda has an expected long-term growth rate of 26%.
Fiat has an expected long-term growth rate of 21.7%.
Renault has an expected long-term growth rate of 4.6%.
Zacks' Top Investment Ideas for Long-Term Profit
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Ford (F) Recalls 32,000 Vehicles to Replace Faulty Airbags
Ford Motor Company (F - Free Report) is recalling roughly 32,000 vehicles in North America, due to a safety compliance issue associated with the vehicles’ airbag. The recalled vehicles include 2016–17 Ford Edge and 2016–17 Lincoln MKX built at the Oakville Assembly Plant as well as the 2017 Lincoln Continental built at the Flat Rock Assembly Plant.
Ford will be replacing the driver frontal airbag module in the vehicles free of cost. The company was informed by Takata that the vehicle airbags could either inflate partially or the cushions might get detached due to misalignment. The problem may result in non-compliance with F/CMVSS 208 and poses the threat of injury to the driver incase of an accident.
Ford is unaware of any accidents of injuries related to this issue. Of the roughly 31,867 affected vehicles in North America, 27,531 units are in the U.S. while 4,336 units are in Canada.
The problem in these airbags is not related to Takata’s airbag inflators which can rupture in case of a crash for which massive recalls are being made by a number of auto makers. However, Takata, has recently pleaded guilty to criminal charges associated with a filing related to the airbag rupture issue and has agreed to pay $1 billion.
Ford has underperformed the Zacks categorized Auto Manufacturers-Domestic industry over the last three months. The company’s shares increased 2.1% over this period, while the industry saw a 10.7% gain. Increasing recalls, concerns in certain end markets and lower than expected earnings are adversely affecting share performance.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the auto space include Honda Motor Co., Ltd. (HMC - Free Report) , Fiat Chrysler Automobiles N.V. and Renault SA (RNLSY - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Honda has an expected long-term growth rate of 26%.
Fiat has an expected long-term growth rate of 21.7%.
Renault has an expected long-term growth rate of 4.6%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>