Fox Business Summary: Takata recovered 10 million airbags because they feared that they might explode due to defective inflators; Virgin Galactic reported that all the main structural components of the second rocket plane have been assembled.
Ford Motor Co. said Thursday that it will recall 3 million airbag inflators that may rupture at a cost of $610 million.
The National Highway Traffic Safety Administration (National Highway Traffic Safety Administration) on Tuesday ordered Ford to recall the driver̵
| Stock code | Safety | continued | change | change% |
|---|---|---|---|---|
| F | Ford Motor Company | 11.53 | +0.67 | +6.17% |
In rare cases, this defect can cause the airbag inflator to rupture and cause potentially deadly metal fragments to fly. This triggered the largest automobile recall in American history, with more than 67 million inflators being recalled. Globally, 19 major car manufacturers have installed approximately 100 million inflators.
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The recall includes 2.7 million American cars. Ford will include expenses in its fourth-quarter results.
These vehicles have previously been recalled for use in passenger side inflators. Ford said: “We believe that extensive data shows that there is no need for a safety recall of the driver’s side airbag. However, we respect NHTSA’s decision and will issue a recall notice.”
NHTSA also requested Mazda Motor Company to recall 5,800 airbag inflators from the 2007-2009 B series vehicles.
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Takata inflators have caused at least 400 injuries and 27 deaths across the world-including 18 American deaths, two of which were previously recalled 2006 Ford Ranger trucks.
The recalled Ford vehicles include the 2006-2012 Ranger, Fusion, Edge, Lincoln Zephyr/MKZ, Mercury Milan and Lincoln MKX.
In November, NHTSA rejected a petition submitted by General Motors (NYSE: GM) to avoid recalling 5.9 million American cars equipped with Takata airbags. General Motors said the recall covers 7 million vehicles worldwide and cost 1.2 billion US dollars.
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Ford separately disclosed on Thursday that due to the reduced discount rate, the fourth quarter pre-tax revaluation loss related to pensions and other post-employment benefits is expected to be $1.5 billion.
Ford said that re-measurement of losses is expected to reduce net income by approximately $1.2 billion, but it has not changed its expectation of pension contributions in 2021.
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