Ford will recall a total of nearly 435,000 vehicles in order to repair rusting frame parts and faulty seats. The first recall involves nearly 386,000 Ford Escape vehicles from 2001 to 2004, according to The Associated Press. The subframes on these vehicles could rust, which could cause a control arm to separate and cause problems with steering. Ford announced this problem was blamed on one crash in which no one was injured.
According to USA Today, this recall affects 20 states with cold weather, along with the District of Columbia, in which salt used to remove ice from roads can help cause the rusting.
The second recall involves 49,000 Ford Fusion, Lincoln MKZ, Ford Escape and C-Max vehicles from 2013 and 2014 to replace seat back frames that were improperly welded.
Ford was down 1.15% to $15.94 at 3:10 p.m.
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Separately, TheStreet Ratings team rates FORD MOTOR CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."