Summary
Ford Motor Company has filed an 8-K disclosing a voluntary field service action concerning a driveshaft issue affecting certain 2015 through 2017 model year Transit vans. This initiative is designed to address a safety concern and maintain product quality for customers. The company estimates the total cost of this recall will be approximately $142 million.
Key Highlights
- 1Ford is conducting a field service action for model year 2015-2017 Transit vans.
- 2The action addresses a driveshaft issue.
- 3The estimated cost of this service action is $142 million.
- 4The cost will be borne by Ford's North America business unit.
- 5Updated full-year 2017 profit guidance will be provided with Q2 2017 earnings release.
- 6The Q2 2017 earnings release is scheduled for July 26, 2017.
Frequently Asked Questions
The field service action is to correct a driveshaft issue identified in certain 2015 through 2017 model year Transit vans.
Ford estimates the total cost of this field service action to be approximately $142 million.
The cost of this service action will be incurred by Ford's North America business unit.
Ford stated that updates, if any, to their full-year 2017 total company adjusted pre-tax profit guidance will be provided when they release their second quarter 2017 earnings results on July 26, 2017.