Ford's Costly Recall: Automaker Allocates $270M For Rearview Camera Fixes After Its Vehicles Hit Snag

Ford Motor Co F said on Friday that it will incur an estimated $270 million to service several of its vehicles. The announcement comes on the heels of Ford issuing a recall for over 169,000 of its vehicles, citing issues with its rearview camera.

What Happened: About $270 million will be spent to replace the rearview cameras and update software in certain vehicles, Ford said in a filing before the Securities and Exchange Commission.

The vehicles, which will undergo these service actions, include certain 2020-2023 Explorer and Aviator vehicles, 2020-2022 Corsair vehicles, 2022-2023 Transit vans, 2018-2021 Navigator vehicles, and 2021 Bronco vehicles.

The filing comes on the heels of Ford issuing a recall for 169,277 vehicles for an issue pertaining to its rearview camera. Customers may experience a full blue or black image on their screen when reversing, increasing risks of a crash, the company noted in a filing with the National Highway Traffic Safety Administration (NHTSA).

As for a solution, the company said that it will replace the rearview camera and update software on affected vehicles, free of costs to customer.

Why It Matters: Ford has issued recalls for its vehicles owing to issues with the rearview camera before too. In May, the automaker issued a recall for 422,000 vehicles citing a similar issue.

Ford did not immediately respond to Benzinga’s request for comment.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next: Tesla Cybertruck’s New Frunk Image Sparks Mixed Reactions Online: Critics Question Depth, Fans Find Versatility

Photo by jon lyall on Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsTechelectric vehiclesEVsmobilityNational Highway Traffic Safety Administration (NHTSA)rearview cameraSECSecurities and Exchange Commission
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!