Shares of Ford Motor Co. F inched down 0.8% to $14.87 on Jul 2 after the company announced a safety compliance recall due to a problem in the body control module of some Focus, C-MAX and Escape vehicles of model year 2015. The automaker is recalling around 433,000 vehicles in North America due to this problem. Of these, 374,781 vehicles are in the U.S. and federalized territories, 52,180 are in Canada, and 5,135 are in Mexico.
According to Ford, the engine of these vehicles may sometimes stay on even after taking out the key or pressing the Engine Start/Stop button. Although the company has not received reports of any crashes or injuries related to this problem, it is a compliance issue with FMVSS 114 regarding theft protection and rollaway prevention. Thus, Ford declared the safety compliance recall to update the software of the body control module.
The 2015 Focus vehicles being recalled were manufactured at Ford’s Michigan Assembly Plant from Jun 17, 2014, through Jun 12, 2015. The 2015 C-MAX vehicles were also built at the Michigan Assembly Plant from Apr 22, 2014, through Jun 12, 2015. The 2015 Escape vehicles were produced at Ford’s Louisville Assembly Plant from Apr 1, 2014, to Jun 12, 2015.
Ford currently carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include The Goodyear Tire & Rubber Company GT, Fox Factory Holding Corp FOXF and U.S. Auto Parts Network, Inc. PRTS. Fox Factory Holding currently sports a Zacks Rank #1 (Strong Buy), while both Goodyear and U.S. Auto Parts carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment