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MarketScreener Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY

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Ford Motor : recalls F-250, F-350, F-450 trucks for faulty tailgate latch

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12/06/2019 | 03:16pm EST

Ford Motor Co. announced a recall on Friday of 231,664 heavy-duty pickup trucks to check for unintended opening of tailgates caused by a faulty latch release.

The recall affects 2017-2019 Ford F-250, F-350 and F-450 Super Duty vehicles made in Ford's truck plant in Kentucky. Another 29,953 trucks sold in Canada are also affected.

"In affected vehicles with an electric tailgate latch-release switch mounted in the tailgate handle, water entering the electrical wiring system may cause a short circuit, resulting in unintended switch activation and release of the tailgate latches," a Ford statement on Friday said. "This could cause the tailgate to open unintentionally, whether the vehicle is in motion or stationary. Dealers will modify the tailgate frame wiring harnesses by adding jumper pigtails to isolate the tailgate release control circuits and install a new tailgate handle release switch."

It added that vehicles without the electric tailgate assist are not affected by the recall, and that no injuries or accidents related to the situation have been reported.

Ford's action is a voluntary safety recall, although the National Highway Traffic Safety Administration opened an investigation into this issue.

The company also announced a recall Friday affecting 3,858 2020 Ford Explorer and Lincoln Aviator SUV models with twin-turbo 3.0-liter V6 engines. A potential gasoline fire is possible in vehicles with a too-short protective fuel line sleeve by allowing a plastic fuel line to wear down and cause a gasoline leak. Ford said no fires or injuries have been reported.

Copyright 2019 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News

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Financials (USD)
Sales 2019 146 B
EBIT 2019 5 567 M
Net income 2019 2 105 M
Finance 2019 7 233 M
Yield 2019 6,72%
P/E ratio 2019 17,5x
P/E ratio 2020 8,80x
EV / Sales2019 0,19x
EV / Sales2020 0,21x
Capitalization 35 407 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 10,21  $
Last Close Price 8,93  $
Spread / Highest target 45,6%
Spread / Average Target 14,3%
Spread / Lowest Target -10,4%
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Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Timothy Stone Chief Financial Officer
Jeff Lemmer Chief Information Officer & Vice President
Kenneth E. Washington Chief Technology Officer
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