Ford to Repair Suspension Issue on 2011-2017 Explorers
June 12 2019 - 09:26AM
Dow Jones News
By Chris Wack
Ford Motor Co. (F) said Wednesday that it was issuing a
field-service action to correct a suspension issue in certain model
year 2011 through 2017 Explorer vehicles.
The auto maker said the cost of the action, which will be
incurred by its North America business unit, will be about $180
million and reflected in its second-quarter results.
Ford said that for the full year it continues to expect adjusted
earnings before interest and tax to be higher than in 2018.
Ford also said a panel of three Federal Circuit judges Friday
ruled against the company in a case with the U.S. Customs and
Border Protection Agency regarding Ford Transit Connect
vehicles.
The ruling requires Ford to pay a 25% duty applicable to cargo
vehicles instead of the 2.5% duty toward passenger vehicles.
Ford said it is evaluating its options following the ruling.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 12, 2019 09:11 ET (13:11 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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