A visitor passes in front of a Ford Escape Titanium at a car show last April.
Greg Baker | AFP | Getty Images
DETROIT: Ford Motor will recall 3 million older vehicles due to possible problems with air cushion inflators, costing the carmaker an estimated $ 610 million.
The company confirmed the cost in a presentation Thursday to the Securities and Exchange Commission after the closing bell. Shares of Ford fell in black during out-of-hospital operations, with a drop of approximately 2%. Shares ended 6.2% on Thursday, at $ 11.53 per share, the highest closing of shares since June 2018. Ford’s market cap exceeds $ 45 billion.
In the filing, Ford said spending will be treated as a special item as part of its fourth-quarter earnings on Feb. 4. for Wall Street.
The National Highway Traffic Safety Administration on Tuesday denied a 2017 Ford petition that sought to prevent the removal of vehicles with potentially dangerous airbags, which were produced by car supplier Takata.
The affected vehicles range from 2006 to 2012. They include Ford Ranger (2007-2011), Fusion (2006-2012), Edge (2007-2010), Lincoln MKZ / Zephyr (2006-2012), MKX (2007-2010). )), and Mercury Milan vehicles (2006-2011).
The withdrawal will affect approximately 2.7 million vehicles in the U.S. and approximately 300,000 in Canada and other locations, the company said.
Takata air cushion inflators have been a permanent problem for car manufacturers for years. The defect can cause the rupture of the air cushion inflators, which send life-threatening metal fragments flying into the vehicle. According to Reuters, the problem has been linked to the deaths of at least 27 people worldwide and 18 in the United States. The problem posed by the more than 67 million inflators is the largest automotive record in U.S. history