Legacy automaker Ford (F) has issued a new recall, this time over faulty rear-view cameras of some of its vehicles in the United States. The news has so far begun to turn off investors, as the company’s stock dropped slightly by 0.09% during early morning trading on Tuesday, further extending the decline from the previous day.
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The latest recall affects more than 1.5 million vehicles, according to the National Highway Traffic Safety Administration (NHTSA), the U.S. automobile safety regulator. These vehicles include several of the legacy carmaker’s brands with model years between 2015 and 2019.
The affected models include the Lincoln Navigator, Mustang, Lincoln MKC, F-250, F-350, F-450, and F-550. Others are the Expedition, Edge, Transit, Transit Connect, Econoline, and Ranger.
The vehicles to be recalled will be inspected and have their cameras replaced free of charge, according to NHTSA. The issue also extends to Dutch automaker Stellantis (STLA), which is also experiencing a vehicle recall over the same issue.
Ford Issued Record Number of Recalls
The latest recall comes several weeks after the NHTSA recalled over 355,000 models of the automaker’s F-series trucks. The recall affected vehicles with model years 2025 and 2026. Luckily, the issue was fixable via an over-the-air software update.
Since the start of this year, the Michigan-based company has recalled over seven million cars across more than 100 notices, marking a record number of recalls. In July, the automotive manufacturer had to recall more than half a million vehicles because of cracked fuel injectors that posed a fire hazard.
Two months earlier, Ford was hit with over 138 complaints as about 1.3 million of its F-150 pickups unexpectedly started to shift gears downwards, with their rear wheels temporarily locking up.
Is F Stock a Good Investment?
Turning to Wall Street, Ford’s shares currently have a Hold consensus recommendation based on analysts’ ratings over the last three months. This is based on two Buy, eight Hold, and three Sell ratings by 13 Wall Street analysts.
At $10.60, its average price target indicates a 9.32% downside risk from its current levels.
