Ford Motor Co. is issuing a recall for a total of 238,364 Explorer vehicles, citing a potential safety issue with the rear axle horizontal mounting bolt. The company has found that these bolts may fracture, leading to the disconnection of the driveshaft.
Potential Risks and Consequences
In the official recall notice published by the National Highway Traffic Safety Administration, Ford warns that a disconnected driveshaft can result in a loss of drive power or even a vehicle rollaway situation if the parking brake is not engaged. These scenarios significantly increase the risk of a potential crash.
Affected Models and Time Frame
The recall specifically pertains to certain 2020 to 2022 Explorer vehicles. Ford is expected to send out letters notifying owners about the recall on November 6. To ensure the safety of its customers, Ford dealers will replace the rear axle bolts and conduct an inspection of the rear axle cover at no charge.
Reported Incidents and Safety Assurance
Although Ford has received 396 reports of rear-axle bolt failures, it’s important to note that only a small fraction of these cases (less than 20) resulted in a roll-in-park or loss of motive power condition. Fortunately, at this time, there have been no reports of accidents or injuries caused by this specific condition.
Market Impact and Stock Performance
In premarket trading on Monday, Ford’s stock (F) showed a slight increase of 0.1%. However, over the past three months, the company’s stock has experienced a significant decline of 21.2%. This trend aligns with the broader decline in the automotive industry, with rival company General Motors Co. (GM) witnessing a drop of 25.9% and the S&P 500 index (SPX) losing 3.9%.
Related News and Updates
Ford is taking proactive steps to address the issue at hand and ensure the safety of its customers. The company encourages affected Explorer owners to heed the recall notice and promptly contact their local Ford dealers to schedule the necessary repairs.
