Ford Motor Co. (NYSE: F) stated that it is going to recall 125,000 sport utility vehicles and trucks due to the risk of engine failures causing a fire. According to a filing with the National Highway Traffic Safety Administration, “the recall will cover different Escape and Lincoln Corsair SUVs and Maverick compact pickup trucks from the 2020-2023 model years with 2.5L hybrid or plug-in hybrid engines.”
The company stated that there were issues with the engine manufacturing which would cause the engine to fail prematurely resulting in the release of engine oil or fuel vapor. Back in July last year, Ford recalled 100,000 Escape, Corsair, and Maverick models in the U.S. due to this reason.
Last week, Ford recalled 142,000 Lincoln MKC SUVs due to fire risks and “advised owners to park outside and away from structures until the recall repair is complete.”
Analysts are cautiously optimistic about F stock with a Moderate Buy consensus rating based on seven Buys, four Holds, and one Sell.
