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News Spotlights Stocks

Ford expects to take about $270 million charge related to SUV, van recall

  • September 1, 2023
  • 2 minute read
  • 3,250 Views
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(Reuters) – Ford Motor (NYSE:F) said on Friday it expects to take about $270 million charge for a previously announced recall related to rearview camera for some models of its sports utility vehicles (SUV) and vans.

The Detroit automaker had in May issued a recall of 422,000 SUVs in the United States because the rear view camera display might fail.

The National Highway Traffic Safety Administration had in the same month said loss of the rearview camera image could reduce the driver’s rear visibility, increasing the risk of a crash.

Ford said on Friday it would replace the rearview camera and update software in certain model year 2020-2023 Explorer and Aviator vehicles, 2020-2022 Corsair vehicles, 2022-2023 Transit vans, 2018-2021 Navigator vehicles and 2021 Bronco vehicles.

The company last year had updated the image-processing module software in an effort to address the issue.

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