Ford CEO Jim Farley joined "Barron's Roundtable" to discuss the debate on electric vs. gas cars, the auto company's growth and approach to the auto industry, and he reacts to Warren Buffett's comments on investing in the industry.
Ford is expanding and issuing a new recall for 125,000 sport utility vehicles and trucks because engine failures may cause a fire, the automaker announced Tuesday.
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The recall is an expansion from a July 2022 recall of 100,000 Escape, Corsair and Maverick trucks in the U.S., following 23 reported incidents of fire or smoke that stem from a suspected block or oil pan breach.
Also on Tuesday, Ford confirmed reports of at least three vehicles that suffered fires after getting the 2022 recall repairs.
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Ford said the new recall fix is under development and will include various Escape and Lincoln Corsair SUVs and Maverick compact pickup trucks from the 2020 to 2023 model years with 2.5L hybrid or plug-in hybrid engines, according to a filing with the National Highway Traffic Safety Administration (NHTSA).
Certain Ford Escape models will be affected by the automaker's latest U.S. recall. (Ford / Fox News)
Isolated engine manufacturing issues can cause the engine to fail prematurely and subsequently release engine oil or fuel vapor, increasing the risk of fire and injury, according to Ford.
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Meanwhile, both Ford and the NHTSA are advising owners to park and shut off the engine if they hear unexpected engine noises, notice a reduction in vehicle power or see smoke.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 12.93 | +0.34 | +2.70% |
Last week, Ford said it was recalling 142,000 Lincoln MKC SUVs in the U.S. due to fire risks and advised owners to park outside and away from structures until the recall repair is complete.
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Reuters contributed to this report.
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Ford recalling 125K vehicles due to engine issues that could cause fires - Fox Business
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