NHTSA: "Five Million Unrepaired Ford, Lincoln and Mercury Could Pose Serious Fire Hazard to Vehicles and Dwellings"
CNN reports that The National Highway Traffic Safety Administration (NHTSA) has issued a second recall for Ford; Lincoln and Mercury vehicles that may (more or less) spontaneously combust, thanks to a defective cruise control part. “NHTSA remains concerned that many owners have yet to respond to multiple safety defect recall notifications from Ford. Of the 12 million vehicles involved in the recall, nearly five million have not yet been brought to Ford for repair. The vehicles contain a defective cruise control switch that could lead to a fire at any time, even while the vehicle is turned-off, parked and unattended.” NHTSA promises that “repair parts are immediately available.” That’s a step-up from the initial recall, where a lack of parts meant that many Ford dealers were simply disconnecting the cruise control switch. [ Click here for a NHTSA Press Release with a full list of vehicles involved.]
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Would this be expressed as a liability on their balance sheet?
FORD: Fire Occurs, Rapidly Destroying
P71_CrownVic May be the other four letter word that starts with an "F".
Moral considerations aside, recall costs diminish in direct proportion to the age of the fleet.