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The regulator received 138 consumer complaints alleging an unexpected transmission shift to a lower gear when driving at highway speeds.
U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA) said on Monday it had initiated a probe into over 1.27 million Ford Motor Co’s (F) F-150 trucks following consumer complaints of unexpected rapid vehicle deceleration.
The regulator said it had received 138 consumer complaints alleging an unexpected transmission shift to a lower gear when driving at highway speeds.
The consumers said this transmission downshift came without warning or request from the driver and caused rapid, unexpected deceleration of the vehicle.
Some consumers also told NHTSA that the vehicles experienced a loss of control as the downshift was accompanied by the rear wheels temporarily locking, seizing, or skidding.
The probe involves model-year 2015 to 2017 F-150 vehicles and aims to determine the severity of the safety risk posed by the alleged problem.
The F-series is among Ford’s best-selling models in the U.S. In 2024, the company sold 765,649 truck units in the U.S., accounting for 66% of its overall truck sales and 37% of its total vehicle sales.
On Stocktwits, retail sentiment about the stock remained unchanged in the ‘bullish’ territory (69/100), while message volume has remained ‘low’ over the past 24 hours.
Last week, brokerage Piper Sandler reduced Ford's price target from $13 to $9 while keeping a ‘Neutral’ rating. The analyst said the company employs profitable business segments to subsidize failed electric vehicle launches. The analyst added that Ford’s plan to address its challenges could take years.
In February, the automaker said it expects an overall full-year adjusted earnings before interest and tax (EBIT) of $7 billion to $8 billion for 2025, lower than the adjusted EBIT of $10.2 billion reported for 2024. It pinned the disappointing forecast on headwinds related to market factors.
Ford shares closed at $10 on Friday. The stock is up by about 4% this year but has lost nearly 22.5% over the past 12 months.
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