Ford Motor Company F shares are trading lower in the morning session on Wednesday.
The company will recall 42,652 Bronco Sport and Escape vehicles in the U.S. due to broken fuel injectors that may leak and induce a fire, Reuters reported.
National Highway Traffic Safety Administration stated that Ford plans to incorporate fuel injector leak detection into the engine control software and fit a drain tube, the report read.
Earlier in January, the auto behemoth made it to the headlines for recalling 2.24 million older Explorer sport utility vehicles worldwide because trim retention clips may not be correctly engaged.
Ford anticipated back then that around 5% of the vehicle population will be affected. Owners may have noticed gaps in the A-pillar trim or hear rattles and wind noise.
The company announced a series of upgrades for its 2024 Mustang Mach-E electric vehicle, including a new rear motor, improved charging times, and an updated GT model.
Ford has also reduced the charging times for the Mach-E lineup. Models with the extended-range battery will now reach 80% charge in just over 36 minutes, almost nine minutes quicker than before. For vehicles with the standard-range battery, the charge time is just over 32 minutes, a six-minute improvement.
According to Benzinga Pro, F stock has gained over 3% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF FTXR and Invesco Exchange-Traded Fund Trust II Invesco S&P Ultra Dividend Revenue ETF RDIV.
Price Action: F shares are trading lower by 3.21% to $13.10 on the last check Wednesday.
Photo via Wikimedia Commons
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