T = Trends for a Stock’s Movement
Ford is a producer of cars and trucks. The company also engages in other businesses, such as financing vehicles. Ford operates in two sectors: automotive and financial services. Through its sectors, Ford provides a wide range of vehicles, vehicle parts, and services to a multitude of consumers and companies worldwide. The company’s products saw declining demand in the past several years as gasoline prices took a major toll on pockets. Ford is now revolutionizing its vehicles in order to compete on the world stage. Look for Ford to fuel a recovery in the American automobile industry and provide highly demanded vehicles, parts, and services.
Ford Motor said on Thursday it is recalling 1.39 million SUVs and sedans in North America, most for the possible loss of power steering. About 1.186 million of the vehicles Ford said it is recalling are in the United States. That figure is only 2,200 shy of the total number of vehicles that Ford recalled in the United States during all of last year. Automakers are giving heightened scrutiny to safety issues in the wake of General Motors (NYSE:GM) ongoing safety crisis that began with an ignition-switch issue in older-model cars. So far this year, GM has recalled 15.8 million vehicles worldwide. Analyst Karl Brauer of Kelley Blue Book said Ford’s spate of recalls on Thursday may be “driven by the heightened sense of concern all automakers are feeling right now, though we’ll likely never know for sure.” Brauer added that there have been so many recalls since February when GM issued its first ignition-switch recall that the actions have become “sort of background white noise for consumers.”
Ford said it will recall 195,527 Explorer SUVs in North America from the 2011 to 2013 model years and 915,216 Ford Escape and Mercury Mariner SUVs from model years 2008 to 2011 on power steering issues. In addition, it will recall nearly 200,000 Taurus sedans in North America from the 2010 to 2014 model years on a corrosion issue. Finally, Ford is also recalling 82,576 sedans with floor mats that may interfere with the operation of accelerator pedals. The floor mats were put in 2006 to 2011 model year Ford Fusion and Mercury Milan and Lincoln Zephyr and MKZ sedans.