Ford Draws Retail Investor Concerns After It Recalls Nearly 1.5M Vehicles In US Over Rear View Camera Display Issues
Synopsis
The NHTSA noted that the rearview camera may display a distorted, inverted, or blank image when the vehicle is in reverse, which increases the risk of a crash by reducing the driver’s view behind the vehicle.
Ford Motor Company (F) is recalling nearly 1.46 million vehicles in the U.S. over concerns regarding the rearview camera, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday.
The recall includes certain model year 2015-2019 Lincoln MKC, Mustang, F-350 SD, F-250 SD, F-450 SD, 2015-2017 Lincoln Navigator, Expedition, 2015-2018 Edge, Transit Connect, 2016-2019 F-550 SD, Transit, 2017-2019 Econoline, and 2019 Ranger vehicles.
The U.S. auto safety regulator stated that the rearview camera may display a distorted, inverted, or blank image when the vehicle is in reverse, which increases the risk of a crash by reducing the driver’s view behind the vehicle.
Dealers will inspect and replace the rearview camera as necessary, free of charge, the regulator noted. While letters notifying vehicle owners of the safety risk will be sent before the end of the month, additional letters will be mailed once the remedy is available, the regulator said, without specifying a timeline.
On Stocktwits, retail sentiment around F stock stayed within ‘neutral’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.
A Stocktwits user expressed concerns about the recalls.
The NHTSA said that rear-view cameras in the vehicles affected by the recent recall were supplied by Magna International. Ford identified the issue as being caused by Magna’s sub-supplier making an unauthorized change to their printed circuit board header tooling.
The regulator also noted that Ford is aware of 44,123 global warranty claims related to these concerns as of August 13, the first of which was received on May 6, 2014. It said that the company is also aware of 18 related accidents through mid-August, though no injuries were reported.
F stock is up 18% this year and approximately 10% over the past 12 months.
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