AIRLINK 73.40 Decreased By ▼ -0.70 (-0.94%)
BOP 5.05 Increased By ▲ 0.05 (1%)
CNERGY 4.35 Increased By ▲ 0.01 (0.23%)
DFML 29.65 Increased By ▲ 0.11 (0.37%)
DGKC 82.25 Decreased By ▼ -1.30 (-1.56%)
FCCL 22.23 Decreased By ▼ -0.20 (-0.89%)
FFBL 34.75 Decreased By ▼ -0.15 (-0.43%)
FFL 10.01 Increased By ▲ 0.14 (1.42%)
GGL 10.05 Increased By ▲ 0.05 (0.5%)
HBL 111.79 Decreased By ▼ -0.21 (-0.19%)
HUBC 138.75 Increased By ▲ 1.06 (0.77%)
KEL 4.44 Increased By ▲ 0.04 (0.91%)
KOSM 4.59 No Change ▼ 0.00 (0%)
MLCF 38.50 Decreased By ▼ -0.05 (-0.13%)
OGDC 135.40 Decreased By ▼ -1.20 (-0.88%)
PAEL 25.90 Increased By ▲ 0.76 (3.02%)
PIAA 26.85 Increased By ▲ 0.34 (1.28%)
PIBTL 6.68 Increased By ▲ 0.03 (0.45%)
PPL 124.25 Decreased By ▼ -1.15 (-0.92%)
PRL 28.10 Decreased By ▼ -0.11 (-0.39%)
PTC 13.98 Decreased By ▼ -0.32 (-2.24%)
SEARL 54.16 Decreased By ▼ -0.44 (-0.81%)
SNGP 71.00 Decreased By ▼ -0.20 (-0.28%)
SSGC 10.59 Increased By ▲ 0.09 (0.86%)
TELE 8.51 Decreased By ▼ -0.01 (-0.12%)
TPLP 10.93 Decreased By ▼ -0.01 (-0.09%)
TRG 60.88 Increased By ▲ 0.18 (0.3%)
UNITY 25.40 Increased By ▲ 0.07 (0.28%)
WTL 1.27 Increased By ▲ 0.01 (0.79%)
BR100 7,652 Decreased By -12.6 (-0.16%)
BR30 25,009 Decreased By -16.4 (-0.07%)
KSE100 73,015 Increased By 250.8 (0.34%)
KSE30 23,742 Decreased By -33.5 (-0.14%)
Business & Finance

Ford to recall 3 million vehicles for air bags at $610 million cost

  • In November, NHTSA rejected a petition filed by General Motors Co to avoid recalling 5.9 million US vehicles with Takata air bags. GM said the callback covered 7 million vehicles worldwide and would cost $1.2 billion.
Published January 22, 2021

WASHINGTON: Ford Motor Co said on Thursday it will recall 3 million vehicles for air bag inflators that could rupture, at a cost of $610 million.

The National Highway Traffic Safety Administration on Tuesday ordered Ford to issue the recall for driver-side air bag inflators, rejecting the automaker's 2017 petition to avoid it.

The defect, which in rare instances leads to air bag inflators rupturing and sending potentially deadly metal fragments flying, prompted the largest automotive recall in US history of more than 67 million inflators. Worldwide, about 100 million inflators installed by 19 major automakers have been recalled.

The recall includes 2.7 million US vehicles. Ford will include the cost in fourth-quarter results.

The vehicles were previously recalled for passenger-side inflators. "We believe our extensive data demonstrated that a safety recall was not warranted for the driver-side airbag.

However, we respect NHTSA's decision and will issue a recall," Ford said.

NHTSA also required Mazda Motor Corp to recall 5,800 air bag inflators in 2007-2009 B-Series vehicles.

Takata inflators have resulted in at least 400 injuries and 27 deaths worldwide - including 18 US fatalities with two in previously recalled 2006 Ford Ranger trucks.

The Ford vehicles being recalled include various 2006-2012 model-year Ranger, Fusion, Edge, Lincoln Zephyr/MKZ, Mercury Milan and Lincoln MKX vehicles.

In November, NHTSA rejected a petition filed by General Motors Co to avoid recalling 5.9 million US vehicles with Takata air bags. GM said the callback covered 7 million vehicles worldwide and would cost $1.2 billion.

Ford separately disclosed on Thursday it expects to record a pretax remeasurement loss of $1.5 billion in the fourth quarter related to pension and other post-employment benefits plans, driven by lower discount rates.

Ford said the remeasurement loss is expected to reduce net income by about $1.2 billion, but did not change expectations for 2021 pension contributions.

Comments

Comments are closed.