Ford Motor Co. (F) announced that it is increasing the number of recalled 2014 Ford F-150 trucks to 5,675 vehicles from the initial recall of 372 vehicles. The automaker is recalling the vehicles due to a problem in the electronic power assist steering gears.
Ford has recalled the vehicles as the motor position sensor magnet of the electronic power assist steering gears may be improperly installed by the supplier. This may damage the steering, leading to loss of steering control, thus increasing the risk of a crash. The Suppliers of Ford informed the automaker about the defect in an additional number of vehicles on Jun 17.
Of the total vehicles recalled, only 260 had been supplied to customers globally as of Jun 24. The remaining are either at Ford dealerships or in transport to the dealers. However, there is no report of any causality related to this defect.
Ford has requested the owners of the recalled vehicles not to use their vehicles and to report to the dealers as soon as possible for repair. Ford also ordered the dealers not to sell any of the affected vehicles and not even offer test drives in these vehicles. The dealers will be replacing the steering gear of the affected units to fix the problem.
Ford focuses on delivering its customers with the best quality vehicles. F-150 is Ford’s top-selling light vehicle in the U.S. The automaker is taking adequate steps and responding well to matters concerning the safety of its customers.
Last month, Ford announced 4 separate recalls for a total of 1.4 million SUVs and sedans in North America, of which 1.186 million vehicles are in the U.S.
Ford currently carries a Zacks Rank #3 (Hold). Fox Factory Holding Corp (FOXF), Gentherm Incorporated (THRM) and Tower International, Inc. (TOWR) are some better-ranked automobile stocks. All these stocks carry a Zacks Rank #1 (Strong Buy).
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