Ford Motor Company (NYSE:F) To Recall 24,000 Cars

Posted by Samantha Donahue October 6, 2013 0 Comment 2366 views

Ford Motor Company (NYSE:F) is recalling around 24,000 cars to fix a fault in the car chimes. This chime is an alarm that sounds if the driver door has been accidentally left open when the key is in the ignition. The recall is for Ford Focus electric cars in Canada and the U.S that were manufactured between 2012 and 2013 and the 2013 manufactured C-Max Hybrid. All these cars operate on a push-button mechanism. The company says that these cars do not fall in line with the United States regulations that require the chimes. There have been no reports of any injuries or crashes due to the problem. Commencing next week, 4 dealers will modify the software in order that the chimes function as they should.

Friday’s trading session

In Friday’s trading, Ford Motor Company (NYSE:F) rose by 0.83%. The shares opened at a price of $16.97, climbed to an intraday high of $17.14 and dipped to a close of $17.09. Approximately 24 million shares were traded on Friday while an average volume of 30 million company shares were traded over a 30-day period. The 52-week low of Ford Motor Company (NYSE:F) shares is $10.02 and its 52-week high is $18.02. The company has a market capitalization of $65 billion.

The company

Ford Motor Company (NYSE:F) operates in the international automotive industry. It has two business segments: 1) Automotive and 2) Financial Services. It is engaged in manufacturing or distributing automobiles in 6 continents. It has car brands such as Ford and Lincoln. Its automotive sector includes Ford South America, Ford North America, Ford Asia Pacific, Ford Europe and the Africa regions. In the year that ended 31 December 2012, it sold around 5,668,000 vehicles in wholesale, across the world. The Other Financial Services segment includes a variety of businesses, such as real-estate and holding companies.

About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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