Ford recalls more than 2 million cars

By: Miguel A. Rodriguez

09:45, 14 September 2020

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Bad news come pouring down on Ford

Problems seem to follow Ford. After the beginning of May, the two factories closed after some employees tested positive for COVID-19; now, the carmaker recalls approximately 2.5 million cars in Canada and the U.S., with presumably faulty door latches.

The respective latches can fail and cause the door to open while the car is moving. But that’s not all – besides the latches, some F-150 pickups are being recalled for a fluid leak from the brake master cylinder. Due to it, several crashes with two injuries happened. 

The recall is for the vehicles made between 2011 and 2015. Ford believes that the door latches that have been replaced by the dealerships didn’t undergo the correct replacement. 

But this is not the first time when Ford recalls its trucks. In 2016, it recalled the versions made in 2013 and 2014 for the same problem. At that time, the National Highway Traffic Safety Administration opened an investigation which is still open.

On the other hand, Ford announced yesterday that it plans to create by mid-2022 a full-electric version of Ford-150 pickup and Ford Transit. The company steps up its game as more and more of its competitors announced such types of vehicles: Tesla, General Motors, Rivian, and Nikola.

During the after-hours trading, the Ford stock fell by more than 9%.

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Sources: cnbc.com, reuters.com


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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.