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Ford Motor Company (NYSE:F) is reportedly recalling approximately 85,000 Explorer SUVs with the Police Interceptor Utility package due to concerns about engine fires.
The National Highway Traffic Safety Administration stated that in the event of an engine failure, engine oil and fuel could leak into the engine compartment and collect near ignition sources, such as hot engine or exhaust components, potentially causing a fire, reported Reuters.
The recall includes SUVs from model years 2020-2022 that are equipped with 3.3L hybrid and gas engines.
According to Benzinga Pro, F stock has lost over 12% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:FTXR).
Earlier this week, the company recalled 37,371 vehicles, including its all-electric Mustang Mach-E SUV, due to concerns that its front windshield wipers may fail.
The entire recall population includes several 2023-2024 Ford Maverick vehicles, 2023 Ford Bronco Sport, and 2023 Mustang Mach-E SUVs. The front windshield wiper motors in some of these vehicles may become inoperative, causing the wipers to fail, reducing visibility in certain conditions, and increasing the crash risks.
Ford’s dealers will inspect and replace the windshield wiper motors as required, free of cost to the customer, the U.S. auto safety regulator added. The company, however, is not aware of any reports of accidents or injuries related to the condition.
Price Action: F shares are trading lower by 0.68% to $10.39 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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