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Ford Motor Company (NYSE:F) shares are trading lower on Friday.
The National Highway Traffic Safety Administration initiated an investigation into the recall of 42,652 Ford SUVs due to fuel leak risks potentially causing fires, Reuters reported.
The NHTSA’s recall inquiry involves 2022 and 2023 models of Ford Bronco Sport and the 2022 Ford Escape, initiated when safety regulators deem the remedy insufficient, Reuters added.
The agency focused on a possible fuel leak caused by a cracked fuel injector in specific vehicles. While Ford recalled affected models with 1.5-liter engines in March for an engine control software update and drain tube installation, the NHTSA noted the absence of cracked fuel injector replacement in the initial recall.
On April 10, the company recalled 42,652 Bronco Sport and Escape vehicles in the U.S. due to broken fuel injectors that may leak and induce a fire.
National Highway Traffic Safety Administration stated that Ford plans to incorporate fuel injector leak detection into the engine control software and fit a drain tube, the report read.
According to Benzinga Pro, F stock has gained over 0.3% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) and Invesco Exchange-Traded Fund Trust II Invesco S&P Ultra Dividend Revenue ETF(NYSE:RDIV).
Price Action: F shares are trading lower by 2.68% to $12.69 on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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