Why Ford And General Motors Are Trading Lower Today

Shares of several auto-makers including Ford Motor Company F and General Motors Company GM are trading lower following reports suggesting the NHTSA has opened a safety probe over potentially dangerous Takata air bag inflators into 30 million vehicles produced by nearly two dozen automakers.

Weakness also possibly in sympathy with overall market as investors weigh continued concerns over COVID-19, the Feds two-day meeting and a sell off in Chinese equities.

According to a Reuters report, there has been more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide.

'NHTSA has said the cause of the inflator explosions tied to the recall of 67 million inflators that can emit deadly fragments is propellant breaking down after long-term exposure to high temperature fluctuations and humidity. The agency has required all similar Takata without a drying agent to be recalled,' also said in the report.

General Motors' stock was trading about 4% lower at $49.27. The stock has a 52-week high of $64.30 and a 52-week low of $28.24.

Ford Motors' stock was trading about 3.6% lower at $13.06. The stock has a 52-week high of $16.45 and a 52-week low of $6.41.