Ford slips after issuing (another) major recall, this time for nearly 700,000 vehicles
Ford shares were down over 2.5% on Wednesday after the company recalled 694,000 vehicles, according to the National Highway Traffic Safety Administration.
The recall affects Bronco Sport models made between 2021 and 2024 and Escape models from 2020 to 2022, due to a potential fuel leak that could spark a fire. Ford said in a separate regulatory filing that it expects the fix to cost about $570 million, but said the expense won’t impact adjusted earnings or free cash flow.
The callback comes less than a week after the automaker said it would recall 850,000 pickup trucks and SUVs over a separate fuel pump problem. It’s the latest in a string of safety issues for the automaker: through the end of June, Ford has issued 88 safety recalls. That’s the most in the automotive industry... by a lot.
Still, the setback hasn’t been enough to get investors out of the driver's seat. Ford shares are up nearly 17% year to date.
The callback comes less than a week after the automaker said it would recall 850,000 pickup trucks and SUVs over a separate fuel pump problem. It’s the latest in a string of safety issues for the automaker: through the end of June, Ford has issued 88 safety recalls. That’s the most in the automotive industry... by a lot.
Still, the setback hasn’t been enough to get investors out of the driver's seat. Ford shares are up nearly 17% year to date.
