Ford Issues Recall for 850,000 Vehicles
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Ford CEO Jim Farley said dealers are helping the automaker win in sales and bring down warranty costs. Here's what Ford will do for them.
Ford Motor (NYSE:F) recently reported a 33% increase in share price over the last quarter, a period marked by key developments that may have bolstered investor confidence. Notably, Ford announced its partnership with n+ to launch an affordable eBike financing and leasing program,
Ford and its philanthropic arm are donating money, and dealers will donate cars and aid to Texans impacted. Toyota and GM have plans to help, too.
The accomplishment was elite enough that Ford Motor CEO Jim Farley personally showed up July 8 to present it to Jim Seavitt, owner of Village Ford.
The automaker says its quality is improving, and the company expects its number of recalled vehicles to drop over time.
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For Stellantis and Ford suppliers, new business and financial help comes with unique strings attached. That’s not to say other automakers are not tough negotiators, but the Blue Oval and maker of Jeep, Chrysler, Ram and Dodge vehicles are outliers in their hardline supplier tactics, according to those who do business with them.
The new incentive for consumers comes on the success of the company's "From America, For America" employee pricing offer.
Ford Motor said it was “on track” to qualify for lucrative, Biden-era federal tax credits for electric-vehicle batteries it plans to make at a new, $3 billion plant in Michigan, even under President Trump’s new tax bill.
The Michigan plant has been controversial because of Ford’s agreement to license technology from Chinese battery giant Contemporary Amperex Technology Co. Ltd. at the new facility.