Ford Recall: Reduce Exposure Immediately
Ford's in more dogshit.What a surprise.
Ford (F) said today that they're recalling 3.8 million pickup trucks and sport utility vehicles for a cruise control switch suspected of causing engine fires.
It is the fifth largest auto industry recall in US history.
Ford said the recall of 1994-2002 model-year vehicles includes the company’s hot-selling F-150 pickup truck, Ford Expedition, Lincoln Navigator and Ford Broncos.
The Ford F-series truck has been the best-selling full-size pickup for nearly three decades.
In July, when the company offered its employee discount to all buyers, Ford’s F-series set a record for the highest monthly sales of any vehicle since the 1920s.
Employee discounts are a stupid idea -- they mask rather than cure lagging sales and ultimately generate price wars within the industry.
As energy skyrockets, car buyers continue to shun traditional SUVs, a trend we don't like.
The average price for a tank of regular unleaded gas in the U.S. is $3.04.
Why are you in auto?
Consumers have to spend $60 to fill the tank - you think sales of gaz guzzlers will climb or fall?
Wake up.
If it's not obvious yet, we have a Sell Rating on Ford -- those guys abroad have the market share in the bag, anyways.
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