: Ford recalls more than 230,000 Explorers for driveshaft issue

Ford Motor Co. is recalling 238,364 Explorers, as the rear axle horizontal mounting bolt may fracture, causing the driveshaft to disconnect.

The recall affects certain 2020 to 2022 Explorer vehicles.

“A disconnected driveshaft can result in a loss of drive power or a vehicle rollaway if the parking brake is not applied,” the recall notice with the National Highway Traffic Safety Administration said. “Either of these scenarios can increase the risk of a crash.”

Ford’s stock
F,
+1.10%

edged up 0.1% in premarket trading Monday.

Letters to notify owners of the recall are expected to be mailed on Nov. 6. Ford dealers will replace the rear axle bolts and inspect the rear axle cover, free of charge.

Read: Ford looking at cutting electric F-150 production shift: WSJ.

Also read: UAW says it may call more strikes at Big Three carmakers ‘at any time.’

The automaker said it is aware of 396 reports of rear-axle bolt failures, in which less than 20 resulted in a roll-in-park or loss of motive power condition.

“Ford is not aware of any reports of accident or injury related to this condition,” the recall notice said.

The stock has dropped 21.2% over the past three months through Friday, while shares of rival General Motors Co.
GM,
+1.38%

have tumbled 25.9% and the S&P 500 index
SPX
has lost 3.9%.

source

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