The automaker called back a number of its trucks recently because of faulty seat belts.
Ford Motors Company released a press release February 24, 2016 according to which the auto-maker has recalled Ford Transit Wagons and Ford F-150 trucks in North America. As per the press release over 51,500 Transit Wagons model 2015-2016 have been called back; these automobiles were manufactured at the company’s plant in Kansas City.
The auto-maker stated that no injury or incident has occurred or reported so far but they would rather be safe than sorry. The reason for calling backing so many vehicles was that there could be an issue with the seat belt buckle which could be dangerous as if a heavy object is placed on top of it, the seat belts don’t latch out properly which could poses a threat for the person driving or sitting in the trucks.
Over 49,000 Transit Wagons have been called back in the United States while over 1,781 and 699 automobiles have been called back from Canada and Mexico respectively. Additionally, this was not the only recall that the auto-maker issues. In the same press release it also called back over 3,700 of its Ford F-150 trucks of the 2016 model. The reason for calling back this vehicle was the multi-contour seats that were fitted in the trucks.
The problem with these trucks is that in case the truck feature is turned on and there is an adult sitting in the front passenger seat, it the device is going to think it’s a child and will automatically suppress the airbag which could lead to fatal injuries in case of an accident. These trucks were manufactured in 2015 during the months of April and November in the company’s Dearborn Truck Plant. In total over, 2,894 vehicles have been called back from the United States while 286 have been called back from Canada and 503 were recalled from Mexico.
Owners of these vehicles will be contacted by Ford dealers and then they will be either fix the vehicles or replace them free of cost. Ever since 2016 has started in total Ford Motors has recalled over 400,000 of its automobiles mostly because of safety issues. Recently there was another issue regarding the Takata Airbags due to which the company had to call back over 391,000 Ford Rangers pickups.
Additionally, Ford has been degraded by Credit Suisse from an initial rating of neutral to a new rating of underperform – but the financial services company left the target price at $13 per share. Presently, ford motors stock has been traded at a share price of $12.07 which a market capitalization of $49.73 billion. During the trading session, the auto-makers stock price hit a high share price of $12.11 and a low of $11.60 and commenced at $12.11.