Key Takeaways
- Ford shares dropped in early trading Wednesday after the company recalled 112,965 F-150 pickups that could be affected by a roll away risk.
- The automaker notified the National Highway Traffic Safety Administration that the affected trucks’ rear axle hub bolt could break and result in vehicle roll away.
- The company said that a “remedy is currently under development” and reported that it notified owners of impacted vehicles.
Ford (F) shares fell 2.3% in early trading Wednesday after the automaker recalled 112,965 F-150 pickups due to roll away risks.
The company notified the National Highway Traffic Safety Administration (NHTSA) that certain Ford F-150 pickups from 2021 to 2023 that have “the Trailer Tow Max Duty package and a 9.75-inch heavy duty axle with a 3/4 float axle design” are affected.
The automaker said that the recall, which potentially affects 112,965 pickup trucks, concerns a rear axle hub bolt that “may fatigue and break” which could “result in damage to the axle hub splines.”
The problem could “result in a vehicle roll away when the vehicle is in park without the parking brake applied, or cause a loss of drive power,” and “increase the risk of a crash” for those driving impacted trucks, Ford said in a notification letter to the NHTSA.
The company reported that a “remedy is currently under development” and that “owners will be instructed to take their vehicle to a dealer for an interim repair if they experience symptoms related to rear axle bolt breakage, such as a clicking or rattling noise.”
Ford shares were down 2.3% at $11.88 per share as of about 10 a.m. ET Wednesday following the news.