Ford Motor Co (F) said on Tuesday that it would recall 125,000 sport utility vehicles and trucks, since engine failures may trigger a fire.
According to the company, isolated engine manufacturing issues can cause the engine to fail prematurely and, in such a case, engine oil or fuel vapor may be released, which increases the risk of fire.
The recall will cover various Escape and Lincoln Corsair SUVs as well as Maverick compact pickup trucks manufactured between 2020 and 2023 and equipped with 2.5l hybrid or plug-in hybrid engines, Ford said.
In July 2022, Ford had initially recalled 100,000 Escape, Corsair and Maverick vehicles in the United States after receiving 23 reports internationally of a fire or smoke stemming from a suspected block or oil pan breach.
The shares of Ford Motor Company (F) closed 2.70% ($0.34) higher at $12.93 in New York on Tuesday, while extending the gains from the previous three market sessions.
The auto maker’s total market cap now stands at $51.73 billion.
The shares of Ford Motor Co went down 44.01% in 2022, compared with a 19.44% loss for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 16.80% so far this year.
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