Ford Motor Co. (NYSE: F) on Friday announced a recall of several models of its light pickups to repair or replace a cable on vehicles equipped with an engine block heater. The cable’s splice connector may be allowing water and other contaminants to corrode and damage the cable.
Ford is recalling 410,289 pickups that were sold in the United States and 463,793 that were sold in Canada. The recall includes certain model year 2015 to 2019 Ford F-150 and 2017 to 2019 Ford F-250 Super Duty, F-350 Super Duty, F-450 Super Duty and F-550 Super Duty pickup trucks equipped with an engine block heater.
According to the U.S. National Highway Traffic Safety Administration, if the cable has become corroded it could cause a short that increases the risk of overheated or melted wiring and a fire.
Ford noted that the risk exists only when the block heater is plugged in. The company said it is aware of three fires originating from the faulty connector with minor property damage occurring in one. No related injuries or accidents have been attributed to the problem.
[nativounit]
Owners will be instructed to take their trucks to a dealer, who will inspect and replace the block heater cable if it is damaged or corroded. If there is no sign of corrosion, the dealer will slather on some dielectric grease and reconnect the existing cable. The recall is set to begin on January 7, and Ford will notify owners of affected vehicles.
Ford shares traded up about 0.4% Friday morning, at $8.30 in a 52-week range of $8.17 to $13.48. The stock’s consensus 12-month price target is $10.02.
[recirclink id=513946]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks