Ford Motor Co.(F), already reeling from business setbacks, has recalled 1.2 million trucks, sport utility vehicles and vans amid concerns about potential engine fires. The speed control deactivation switch system, which could corrode over time, overheats and ignites, and is the main reason for the recall.
This comes upon the heels of the first time ever that Ford sold fewer vehicles than Toyota Mortor Corp. (TM) in the U.S. Shares have fallen 18 cents to $6.78 in trading on the New York Stock Exchange.
The recall involves vehicles fueled by gasoline or natural gas and equipped with speed control, including the 1994-2002 F-250, F-350, F-450 and F-550 F-Super Duty trucks, 2000-2002 Excursion SUVs, 1994-1996 Econoline vans and 1996-2002 E-450 vans, and 1998 Explorers and Mountaineers. The recall does not involve similar vehicles fueled by diesel.
Last September, Ford recalled 3.8 million pickups and SUVs from the 1994-2002 model years, including the top-selling F-150 pickup, because of the concerns over engine fires. It was the fifth-largest auto industry recall in U.S. history.
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