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 Motor Company is conducting a recall of hundreds of thousands of F-150 trucks in the U.S. that could potentially experience a wiring-related problem with their electric parking brakes.
In a safety recall report to the National Highway Traffic Safety Administration, the vehicle company said contact with the rear axle housing may damage a wiring harness, which could lead to unexpected activation of the electric parking brake.
The 870,701 trucks potentially affected belong to the 2021 through 2023 model years and feature single exhaust systems. Production of the recalled vehicles happened over roughly three years.
A Ford sign at a dealership in Springfield, Pa., April 26, 2022. (AP Photo/Matt Rourke / AP Newsroom)
People who own the affected F-150 trucks will receive letters informing them of the recall and the fix for the issue beginning Sept. 11, the same date dealers will get notification, according to the report.
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The recall report indicated nearly 300 of more than 900 warranty and field reports for the wire chafing issue included an unintentional electric parking brake activation. Nineteen of those incidents happened with a driver operating a truck, it said.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 13.26 | -0.47 | -3.42% |
The issue has not resulted in any known injuries or crashes, according to the report.
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The issue will be addressed in one of two ways at dealerships. Either the recalled trucks will have a harness swapped out for a new one or a protective tie strap and tape wrap will be applied at no cost to owners.
Ford Motor Co. F-150 trucks under production at the Truck Plant in Dearborn, Mich., Sept. 20, 2022. (Jeff Kowalsky/AFP via Getty Images / Getty Images)
A harness will be replaced if tape covering the area has experienced wear, the recall report said. New harnesses feature a plastic shield that prevents chafing.
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A group within Ford started looking into reports of the unintentional parking brake activation in February, according to the report.
Reuters contributed to this report.
