Ford Motor Co. agreed to a $165 million civil penalty to settle allegations it failed to recall cars with defective rearview cameras in a timely manner.
In 2023 alone, Ford paid nearly $5 billion in warranty claims, reflecting ongoing financial pressures stemming from warranty costs.
CEO Jim Farley stated, 'All of our improvements to warranty will take time to reduce our warranty expense—maybe up to 18 months.'
Ford's stock is down 10% this year, contrasting sharply with General Motors' 59% stock increase, highlighting investors' concerns.
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