Ford Motor Co. (NYSE: F | F Price Prediction) on Monday issued a safety recall on model years 2015 to 2018 F-150 pickups sold in Canada. The company noted that no crashes or injuries have been reported related to the issue that prompted the recall.
The company is recalling 89,472 vehicles built in the United States and sold in Canada to fix a problem that could cause the trucks’ tailgate latch to release unexpectedly. The trucks were built at Ford’s Dearborn truck plant between July 28, 2014, and October 22, 2018, and at the Kansas City assembly plant between February 19, 2015, and November 4, 2018.
This recall is similar to a larger December recall of more than 265,000 F-Series pickups, including nearly 30,000 sold in Canada.
According to Monday’s announcement, water getting into the wiring of the electric tailgate-latch release may cause a short circuit that could unintentionally activate the switch and release the latch. If that happens while the truck is in motion it could cause unrestrained cargo to escape, increasing the risk of a crash.
Ford dealers 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.
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Ford stock traded down by about 1.5% shortly after Monday’s opening bell, at $8.86 in a 52-week range of $8.16 to $10.56. The stock’s 12-month consensus price target is $10.09.
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