Ford Motor Company is the fifth largest automaker in the world behind Toyota, VW, Hyundai, and General Motors. As of recently, the organization had to organize two product recalls in two continents. Both in Europe and in North America the automaker received complaints that some of its lines of products have engine malfunctions. Thus, the company recalled 440,000 vehicles as they are in danger of getting their engines on fire or having their doors fly open in the middle of a ride.
The Recall Covers a Large Range of Ford Models
On Wednesday, Ford Motor Company stated in one of its filings with securities regulators that the recent recalls of hundreds of thousands of assets are going to affect pretax earnings by $295 million. The large revenue cut will impact the first financial quarter of the company for the year of 2017.
The engine malfunctions urged the company to return over 360,000 in both Europe and North America. In North America, the recalled lines include Escape SUVs model 2014, together with 2014 and 2015 compact Fiesta ST. The technical issue is also concerning for the 2013 and 2014 Fusion, and 2013, 2014, and 2015 Transit Connect, the version of a small van. As far as Europe is concerned, the recall concerns the C-Max hybrid models 2010 through 2015, the 2013 through 2015 Transit Connect van, and the Small Focus.
The Engine Malfunctions Are Triggered by Coolant Leaks
All these assets have one thing in common. They all have engines that are turbocharged with four cylinders with the capacity of 1.6 Liters. According to the company, it seems that this type of engine had problems with coolant circulation. This issue puts drivers in danger of having the heads of cylinders cracked open because of an overheated engine. In this case, the crack can release pressurized oil. If this substance enters into contact with a hot surface, it can get the entire engine on fire. At the moment, the company disclosed that it received 29 cases of engine malfunctions across U.S. and Canada. However, there were no injuries.
A spokeswoman for the company, Elizabeth Weigandt, declared that drivers could use their cars safely. The organization is going to send instructions on how to fix any coolant issue to customers via mail. Dealers are also another solution to their car problems. However, the spokeswoman urged Ford customers to take their cars to a dealer as soon as they see signs of engine overheat or leaky coolant.
Image source: 1
The post Ford Announced Recall of 440K Products for Engine Malfunctions appeared first on Wall Street OTC.