Ford Motors is recalling 1.3 million F-Series trucks, due to a door malfunction on the vehicles. The automakers say that the Ford recall is due to the side doors of certain F-150 and Super Duty pickups may not open, or may appear closed, although they are not fully latched. Though the brand is not aware of any incidents or injuries pertaining to the issue, dealers are still opting to install water shields to side door latches on these models to correct the issue.
Bloomberg notes that the recall comes at an inopportune time for new chief executive officer Jim Hackett, who is seeking to win over Wall Street with the plan he revealed this month to cut $14 billion in costs while pushing faster into self-driving and electric vehicles. The F-series pickup line, which analysts say hauls in the bulk of Ford’s profits, will underwrite much of the investment the company is making in new technology to compete in the autonomous age.
Ford was up 0.4 percent to $12.32 at 9:35 a.m. in New York trading but is down 0.2 percent since Hackett’s presentation to investors, which received mixed reviews. Crosstown rival General Motors Co. has outpaced the benchmark Standard & Poor’s 500 Index in the same period as analysts value its self-driving and car-sharing businesses at as much as $30 billion.