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Ford (F) to Recall 3M Vehicles Over Takata Airbag Issue
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Per media sources, Ford (F - Free Report) is set to recall around 3 million vehicles to replace defective Takata airbag inflators as the National Highway Traffic Safety Administration (“NHTSA”) denied the firm’s petition to avoid the callback. Affected vehicles are at a potential risk to explode after prolonged exposure to heat and humidity, same as the other recalled Takata inflators by various automakers. The Takata inflator saga has triggered massive recalls by various auto biggies including Toyota (TM - Free Report) , Honda (HMC - Free Report) and GeneralMotors (GM - Free Report) . More than 25 people have been killed worldwide by injuries inflicted by the defective Takata airbag inflators.
While Ford has been contending that the airbag inflators in question do not pose a safety risk, the company is still likely to abide by NHTSA’s ruling and start taking necessary measures. Reportedly, the agency has given the automaker a 30-day time period to come up with a plan on how it would work toward fixing the recall. Affected vehicles include Ford Ranger, Fusion, Lincoln Zephyr/MKZ, MKX and the Mercury Milan, built between 2006 and 2012.
Meanwhile, the U.S. giant made an official statement that it is about to issue a safety recall over contaminated windshield washer fluid, which does not comply with the Federal Motor Vehicle Safety Standards. The recall affects 286 vehicles, including 283 in the United States and three in Canada. Reference number for this recall is 21C01.
Apart from the frequent recall issues, Ford is also facing major production hurdles amid supply shortage of semiconductors.The company recently announced that it has decided to extend the scheduled shutdown of its Chennai plant in India by another week on account of this shortage of semiconductors. The plant, which was closed on Jan 14 for a three-day Pongal holiday, has extended the shutdown till Jan 24. It expects the global semiconductor shortage issue to prevail through first-half 2021. This will, hence, continue to impact vehicle production at its Chennai and Sanand plants in the coming months. Ford — which currently carries a Zacks Rank #3 (Hold) — has already shut down the Louisville plant in Kentucky because of this obstacle. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Ford (F) to Recall 3M Vehicles Over Takata Airbag Issue
Per media sources, Ford (F - Free Report) is set to recall around 3 million vehicles to replace defective Takata airbag inflators as the National Highway Traffic Safety Administration (“NHTSA”) denied the firm’s petition to avoid the callback. Affected vehicles are at a potential risk to explode after prolonged exposure to heat and humidity, same as the other recalled Takata inflators by various automakers. The Takata inflator saga has triggered massive recalls by various auto biggies including Toyota (TM - Free Report) , Honda (HMC - Free Report) and General Motors (GM - Free Report) . More than 25 people have been killed worldwide by injuries inflicted by the defective Takata airbag inflators.
While Ford has been contending that the airbag inflators in question do not pose a safety risk, the company is still likely to abide by NHTSA’s ruling and start taking necessary measures. Reportedly, the agency has given the automaker a 30-day time period to come up with a plan on how it would work toward fixing the recall. Affected vehicles include Ford Ranger, Fusion, Lincoln Zephyr/MKZ, MKX and the Mercury Milan, built between 2006 and 2012.
Meanwhile, the U.S. giant made an official statement that it is about to issue a safety recall over contaminated windshield washer fluid, which does not comply with the Federal Motor Vehicle Safety Standards. The recall affects 286 vehicles, including 283 in the United States and three in Canada. Reference number for this recall is 21C01.
Apart from the frequent recall issues, Ford is also facing major production hurdles amid supply shortage of semiconductors.The company recently announced that it has decided to extend the scheduled shutdown of its Chennai plant in India by another week on account of this shortage of semiconductors. The plant, which was closed on Jan 14 for a three-day Pongal holiday, has extended the shutdown till Jan 24. It expects the global semiconductor shortage issue to prevail through first-half 2021. This will, hence, continue to impact vehicle production at its Chennai and Sanand plants in the coming months. Ford — which currently carries a Zacks Rank #3 (Hold) — has already shut down the Louisville plant in Kentucky because of this obstacle. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>