[ad_1]
Fox Business Briefs: Takata Recalls 10 Million More Airbags Fearing They Explode Due To Faulty Inflators; Virgin Galactic reports that all major structural elements of its second rocket plane have been assembled.
WASHINGTON – Ford Motor Co. said Thursday it would recall 3 million vehicles for airbag inflators that could rupture, at a cost of $ 610 million.
The National Highway Traffic Safety Administration on Tuesday ordered Ford to issue a recall for driver-side airbag inflators, rejecting the automaker’s 2017 petition to avoid it.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| F | FORD MOTOR COMPANY | 11.53 | +0.67 | + 6.17% |
The defect, which in rare cases leads to rupturing of airbag inflators and sending potentially fatal metal fragments, caused the largest automotive recall in US history of more than 67 million inflators . Globally, approximately 100 million inflators installed by 19 major car manufacturers have been recalled.
UNITED STATES EXPLORES COMPLAINTS THAT FORD TAILGATE RECALL DID NOT WORK
The recall includes 2.7 million US vehicles. Ford will include the cost in fourth quarter results.
Vehicles were previously recalled for passenger side inflators. “We believe our extensive data has shown that a safety recall was not warranted for the driver’s side airbag. However, we respect the NHTSA ruling and will issue a recall,” Ford said.
NHTSA has also demanded that Mazda Motor Corp recall 5,800 airbag inflators in 2007–2009 B-Series vehicles.
GET FOX BUSINESS ON THE ROAD BY CLICKING HERE
Takata inflators have caused at least 400 injuries and 27 deaths worldwide – including 18 deaths in the United States and two in previously recalled 2006 Ford Ranger trucks.
Ford vehicles subject to the recall include various Ranger, Fusion, Edge, Lincoln Zephyr / MKZ, Mercury Milan and Lincoln MKX vehicles from the 2006-2012 model years.
In November, the NHTSA rejected a petition filed by General Motors Co (NYSE: GM) to avoid recalling 5.9 million U.S. vehicles equipped with Takata air bags. GM said the recall covered 7 million vehicles worldwide and would cost $ 1.2 billion.
CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS
Ford separately disclosed on Thursday that it expects to post a $ 1.5 billion pretax revaluation loss in the fourth quarter related to pensions and other post-employment benefits, due to lower rates discount.
Ford said the revaluation loss is expected to reduce net income by about $ 1.2 billion, but did not change expectations for 2021 pension contributions.
[ad_2]
Source link