Ford Motor Company can start running home with products like refurbished Bronco and medium size Maverickbut that polished average is bearing the weight of massive recalls of some of its newest and best products.
In February, Ford recalled 330,784 Mustangs 2015-2017 due to poor wiring in the car’s backup camera. Ford then recalled 737,000 vehicles in two separate recalls in April; one for the model year 2020-2022 Ford Escape and 2021-2022 Ford Bronco Sport with 1.5 liter engine and the second for 2022 F-150, F-250, F-350, F-450, F-550, Maverick, Expedition as well as Lincoln Navigator and 2021 F-150. Can see the recall 39,013 models-year 2021 Ford Expedition and Lincoln Navigator SUVs pose a fire risk. Things don’t get better this month for Blue Oval: Ford recovered 2.9 million VND crossovers, sedans and trucks, 48,924 Mustang Mach-Es for battery circuit failure and 25,032 regular Mustangs for a faulty switch sensor.
When you present it all like that, it certainly seems like a lot remember. The problems are still unnoticed. From industry analysis for investors to Ford customers, the recalls are wreaking havoc on what should go smoothly for the automaker, according to Detroit Free Press:
Ford CEO Jim Farley has said over and over again that reducing the amount the company spends on recalls and warranties is crucial for the iconic automaker, whose the long history of what industry analysts call self-inflicted wounds.
However, the cost to fix the problem continues to rise with the latest Ford premium safety recalls.
Analysts say successive recalls in recent weeks for problems ranging from spontaneous combustion to loss of power while driving at high speeds put Ford at a competitive disadvantage at a time of serious problems. The automaker is struggling to define itself as a market leader, analysts say. .
It is essential that Ford, like all automakers, focus its money on developing new products to compete in a rapidly evolving industry that requires major new investments, rather than for correcting mistakes.
“They are the number one problem at Ford right now. And it’s the worst in the industry when it comes to recall and warranty work,” said John McElroy, a longtime industry observer and host of the webcast and podcast “Autoline After Hours.” “It’s been going on for years and they still haven’t solved it.”
There are many theories as to why Ford products are giving their owners a headache from moving too quickly into cutting-edge technology while trying to save money by cutting corners in the cars. Areas such as development and testing, require a brain drain of experienced engineers to use parts from the lowest-bid supplier.
For its part, Ford knew that recalls and quality were an issue and appointed “quality king” Josh Halliburton to shake things up at Ford. He can’t work fast enough. Eric Arnum, editor of Warranties Week, told Freep that Ford ranked first in the US in terms of warranty coverage last year, not only among automakers but also among other companies such as Apple and Raytheon. Ford also spends the highest amount of money on each vehicle to prepare for repairs and recalls.
Repeated recalls can cost automakers more in just dollars per sale, which can cost their customers. You can read the full report with multiple analytical weights in, right here.
