Ford Motor Co.
) has recalled 465,000 vehicles globally in order to repair fuel
leakage. 2013 Ford Fusion, Flex, Explorer, Taurus, Interceptor
Sedan and Interceptor Utility, together with the 2013 Lincoln
MKZ, MKS and MKT are the models recalled.
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Ford will check the fuel tank leaks, which may result in fire.
However, there are no accidents or injuries reported so far owing
to fuel tank leakage.
Ford has also recalled some of the 2013 Fusions for mending the
steering gears, which lacks an internal retaining clip.
The automaker revealed that about 420,000 of the vehicles will be
recalled in U.S., Mexico and Canada and the rest from overseas
market. This recall once again casts a negative image on Ford's
best-selling Ford Fusion, as it has been recalled several times
since its launch.
In Dec, Ford recalled 80,000 2013 Fusions in order to fix their
engine leaks. In Nov, the automaker recalled another 19,000
Fusions to repair the lighting system. Ford also recalled 500
2013 Lincoln MKZ sedans with engine block heaters.
General Motors Company
), another prominent automaker recalled more than 27,000 units of
its Cadillac crossover vehicles globally because their wheel nuts
may not have been tightened properly at the time of assembling.
The recall affects 2013 Cadillac SRX models equipped with 18-inch
Ford posted 4.1% increase in profits to $1.6 billion and a 5.1%
rise in earnings per share to 41 cents in the first quarter of
2013, beating the Zacks Consensus Estimate by 3 cents.
Revenues improved 10.5% to $35.8 billion, exceeding the Zacks
Consensus Estimate of $32.8 billion. The improvement in revenues
and earnings was mainly attributable to Ford's strong performance
in North America and Asia Pacific Africa, partially offset by
unfavorable exchange rate in South America and uncertainties in
Michigan-based Ford is one of the largest automobile producers in
the world. Currently, the company carries a Zacks Rank #3 (Hold).
Tower International, Inc.
), both carrying a Zacks Rank #1 (Strong Buy) are performing well
in the broader industry where Ford operates.